Project Performance Measurement and Management
Ensuring the Delivery of Project Value - Mastering Project Metrics

Why Choose this Training Course?

Many projects undertaken by organizations in the private and public sectors significantly overrun their deadline and budget. In many cases, projects produce agreed deliverables but are still not successful. Why? In the modern complex fast-moving world, there is an increasing recognition of the need to understand what value is to be realized from executing a project. Furthermore, in a global multi-skilled economy, there is an increased need for project teams to leverage modern collaboration capabilities to achieve innovative solutions.

Linked with the key decisions on how to align project outcomes with strategic objectives is the need to identify and use key performance indicators driven by appropriate metrics to control the delivery of value and ensure that a project maintains its purpose of providing the value that it was launched to achieve. Establishing project success criteria with related project metrics supports clear reporting. Dashboards that highlight key performance indicators enable senior management to make data-driven decisions that may correct and improve project work to ensure the project stays on track to deliver the expected value outcomes. 

This interactive, applications-driven 5-day Project Performance Measurement and Management training course will highlight the added value to be achieved when effective control mechanisms are applied using project management techniques.

This training course will highlight:

• Discussions on project success and failure
• Exploration of the concept of value and value-driven project management
• Definition of key performance indicators, metrics and reporting dashboards
• Demonstration of techniques to control expectations through effective stakeholder management
• Examination of effective governance mechanisms to support planning, execution (change) and performance management
• Application of core planning techniques to enable management to control project scope, schedule, costs, uncertainty and quality.

Training Objectives

What are the Goals?

By the end of this training course, participants will learn to:

• Appreciate the need to apply Value-driven Project Management
• Create Key Performance Indicators & establish additional metrics to measure the increasingly complex nature of modern projects
• Compose effective dashboards and scorecards to report project performance
• Initiate projects effectively by incorporating success criteria to charters
• Apply generally accepted project management techniques to establish an integrated project plan baseline
• Measure, forecast, present status and control project performance by employing earned value techniques
• Embrace the dynamic nature of many project environments through proactive change management

Target Audience

Who is this Training Course for?

This PetroKnowledge training course is suitable to a wide range of professionals but will greatly benefit:

• Associate Project Managers
• Project Managers
• Project Coordinators
• Project Analysts
• Project Leaders
• Senior Project Managers
• Team Leaders
• Product Managers
• Program Managers
• Project Sponsors
• Project Team Members

Training Methods

How will this Training Course be Presented?

The facilitator will introduce each of the core topics using a lecture format. Presentations are supported by reinforcement exercises to emphasize the application of theory in real-world project settings. The training course commences with an overview of the nature of projects and the fundamentals of project management. This enables delegates to reflect on how a project management framework supports effective control processes. This is supported by a detailed treatment of project metrics, kpis and reporting formats.  Standard techniques used to promote detailed planning of scope, schedule, cost and risk are introduced and applied by delegates.

Daily Agenda

Day One: Understanding Project Success and Failure

Competency Description: As a manager you need to establish and use governance mechanisms that promote effective decision making to control projects.

Key behaviours

• Appreciate how the core characteristics of projects influence decision making structures
• Develop system to control project selection
• Appreciate how effective chartering controls project approval and promotes successful outcomes
• Control the engagement of team members on projects through effective project launch processes

Topics to be covered

• Characteristics of projects
• Fundamentals of project management
• Starting a project - the charter
• Starting a project - the team

Day Two: Value-Driven Project Management

Competency Description: As a manager you need to understand the value to be created and how to measure progress toward the generation of that value. This supports the definition of what work will be performed and how it will be performed through effective detailed planning.

Key behaviours

• Value Modelling, metrics and attributes
• Managing metrics
• Enable progress monitoring through integrated project planning

Topics to be covered

• Value modelling and value metrics
• Metric characteristics, selection, training and management
• Project Scope planning -  work breakdown structures
• Schedule planning - build and optimize project timeline
• Cost planning - estimation and construction of the project budget

Day Three: Monitoring Performance through Effective Planning and Reporting Techniques

Competency Description: As a manager you need to measure all aspects of the project and report project performance against an integrated baseline plan.

Key behaviours

• Build a risk register and use risk management techniques to control uncertainty by modifying other core plans (scope, schedule, cost) as appropriate.
• Control waste and manage stakeholder expectations by planning and promoting effective communications among stakeholders.
• Measure project performance and clearly report project information to support decision-making

Topics to be covered

• Controlling uncertainty - risk management
• Controlling stakeholders - communications considerations
• Key Performance Indicators
• Status reports and project dashboards

Day Four: Monitoring and Controlling Project Performance

Competency Description: As a manager you need to control project performance and make adjustments to work plans as needed.

Key behaviours

• Understand the infrastructure needed to use the earned-value technique
• Establish cost performance and schedule performance efficiency using the earned value management system
• Control senior management expectations and promote effective decisions by forecasting modified project outcomes based upon performance efficiencies.
• Develop appropriate change control systems

Topics to be covered

• Variance analysis using Earned value management
• Forecasting to control project budgetary and schedule concerns
• Managing change
• Advanced status reporting techniques

Day Five: Stakeholder Management

Competency Description: As a manager you need to identify and manage stakeholder expectations throughout the project. This will often involve addressing issues and applying consistent problem-solving skills.

Key behaviours:

• Understand how to surface and address stakeholder issues
• Determine how best to facilitate assurance of scope completion and acceptance of project deliverables
• Identify how best to preserve key internal artefacts that were developed during the project to produce the deliverables
• Understand key concepts related to problem-solving and decision-making

Topics to be covered:

• Issues management
• Scope verification - requirements traceability
• Management of project records
• Problem-solving: identification, analysis and generation of solutions
• Decision-making tools and techniques

Accreditation

The Registered Education Provider (R.E.P. ID:4349) status with the Project Management Institute (PMI®) enables PetroKnowledge to issue applicable Professional Development Hours/Units (PDHs/PDUs) to participants on this training course, to help you achieve or maintain PMI® professional credentials.

The PMI^® Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.