Key Performance Indicators (KPI)

Abstract

Project management is the application of knowledge, tools, skills and techniques to meet project requirements. [1] This article focus on effectively managing different processes during a project by effectively being able to control and monitor different processes in a project.

Performance measurement is a fundamental principle of management, it is important to measure performance as it identifies the gap between current and desired performance. Managers can use Key Performance Indicators (KPI's) to identify where to take action in order to improve performance. [2]

Key performance management is used to control stage processes in projects, they are used to assign work, monitor work, deal with issues, report progress to the project board and give better insight to take corrective actions. [3]

The article will show how KPI's are used in monitoring and controlling processes in projects, including subjects like the Project time, cost and quality management (The iron triangle)[] and project control, showing some examples of when and how to use KPI's on certain projects.

Project control Iron triangle assessment