Metrics in Portfolio management
Abstract
According to the Project Management Institute (PMI), a metric is a description of a project or product attribute and how to measure it. It is, indeed, a quantitative measure of performance or outcome that provides a basis for comparison, evaluation, or improvement. [1].
Peter Drucker famously said, "if you can not measure it, you can not improve it". However, it is not enough to measure the performance. The ultimate purpose of metrics is, as well, to provide the right information to the right person at the right time, using the correct media and in a cost-effective manner[2].
Advances in project metrics have been rapid, but advances in portfolio metrics have been slow because not all companies maintain a project management office (PMO) dedicated to portfolio management activities. This can lead to changes in the role of the project manager, the metrics used, and the dashboard displays [2]
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