QSO 420 ( week 7)

Module Overview

QSO‐420‐H5938 Integrated Cost/Sched Control 23EW5 MA

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Using Metrics to Manage Several Projects Module Six covered ways to forecast �nal costs and also discussed the ef�cacy and appropriateness of using

EVM for projects of all sizes. You were also provided an opportunity to re�ect on your milestone

submissions, and explore ways to improve them for submission as part of your �nal project. This later topic

will bode especially well for you now that we are in Module Seven and the �nal project is due. In addition to

working on your �nal project submission, you will also discuss metrics that can be used to manage several

projects.

What is a metric? Merriam-Webster (n.d.) de�nes a metric simply as “a standard of measurement.” Although

this is a simple de�nition, the term has some important implications and, in practice, implementing and using

metrics can be rather complex at times. As we have seen throughout our discussion of EVM, many metrics

can be applied as standards against which to measure project performance and progression. However, some

of this information might have become mired by all of the calculations and statistics described over the past

six modules. Therefore, in the discussion for this module, we focus on the purpose and operationalization of

practical metrics. One of the module resources is a short article on developing metrics. In the discussion, you

will be asked to come up with a metric of your own for measuring project performance. This should help to

clarify the form and function of metrics.

Yet still, what metrics should we use when assessing several projects across an organization, or a single

project manager’s portfolio of projects? How do these metrics differ from other organizational metrics?

These questions will also be addressed as part of our discussion in this module, and will be the focus of some

of our readings.

After our module discussion of metrics and managing a portfolio of projects, we will discuss EVM

implications of the Sarbanes-Oxley Act of 2002 (SOX) in Module Eight. There are many regulations and

reporting requirements with which businesses have to comply. Indeed, many of the metrics established for

monitoring business performance or other standards are driven by regulations such as SOX. Fortunately,

EVM provides mechanisms through which �rms can plan, document, and report �nancial happenings. We

will discuss the tight interrelationships between EVM and SOX.

References Metric. (n.d.). In Merriam-Webster. Retrieved from http://www.merriam-webster.com/dictionary/metric

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