The implementation of KPIs

Abstract

Key Performance Indicators or KPIs are critical indicators that aid in tracking the progress of a project, program or portfolio. Firstly, the article intends to cover the explanation and intended use of KPIs in the existing literature i.e. The PMBOK, The standard for project management. Secondly, the article focuses on the practical application of KPIs in order to control and monitor project decisions and actions. Furthermore, the article will emphasize on the challenges faced by modern day managers in relation to deriving meaning from the plethora of the available key performance indicators.

The PMBOK presents the potential use of KPIs under the umbrella of Project Integration Management. KPIs are represented as a aspect of project management information system which are in turn presented as tools and techniques to direct and manage project work.