How Does One Know if One has Selected the Right Metrics? Metrics are the parameters by which the progress of any project will be measured. They play several roles in helping an organization achieve its goals.. Metrics help management to decide if it is worth investing in a particular project. They also help to show how a project will fit in to the portfolio of projects in a company. Finally, they are used to determine whether or not the project is coming along successfully.
A manager can be confident that he has chosen the best metrics for a particular project if they act as incentives to the employees under him. Also, since metrics are subjective, it is important to compare metrics with other successful projects of the same type to assure compatibility.
However, in all cases, good metrics provide a means for computing the value added by projects. Good metrics are observables. And, they are sensitive to project decisions so that they may be used to differentiate the value of alternative project portfoliosā
āAlso, different organizations create value in different ways. An electric utili
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