It Project Management Project Metrics Research Paper

It has been widely accepted as an industry standard for project management software. Many large companies such as Intel have benefited from it to the extent that case studies were conducted on the results. Many such case studies are documented on Microsoft's website as a testament to the success of this utility. Microsoft Project allows employees, resources, and tasks to be defined. A wide range of relationships can be drawn between each of the defined entities. For example, a resource such as a server can be assigned to be used for certain tasks at certain times.

The definitions in Microsoft Project allow for a high level of analytics to be done. Each resource has a cost involved. Time constraints are also defined for the workforce and the resources. Project managers are able to use this information to track the costs to ensure that the project is running on budget and on schedule. The definitions can be further utilized when determining staffing requirements to optimize site performance and customer satisfaction.

Another feature that Microsoft Project includes is the ability to detect bottlenecks in the project cycle. If certain events must take place before the next phase of the project can resume or if there is a conflict over the availability of resources, it will be detected as early as possible. This helps prevent inefficiencies that are caused by the current business processes and allows the managers to make the needed decisions early to keep the project running smoothly. This feature has especially been utilized in fields where inspections or testing are a necessary component, as these factors can be more accurately taken into account and applied to the scenario. In this same vein of utilization, Microsoft Project Manager provides prioritization software that will allow for analysis and prioritization of all current tasks and projects. This ensures that large-scale projects with smaller sub-projects are properly time-lined and can be efficiently supervised.

Additionally, Microsoft project enables project managers to keep reports clear, concise and transparent to other departments through department networking.In one case study from Revlon, the company was able to reduce meetings by 30% and integrate departments that were throughout the world. This saved the business considerable time and money.

As previously mentioned, forecasting is a vital component to accurate project management and statistical improvement. Microsoft Project Manager offers an easy-to-use method of forecasting where all the necessary formulas and contingencies are automatically analyzed for the project manager. This reduces time spent programming macros and allows the manager more time to apply and implement strategies.

Project managers are given large amounts of responsibility and are held to an equally high standard of accountability. The knowledge obtained by constant monitoring of performance metrics allows them to remain informed about the status of their projects in meaningful ways. The metrics also provide them an easy method of presenting and explaining their progress to stakeholders. Programs like Microsoft Project offer a comprehensive tracking method for documenting and analyzing the performance surrounding their projects. It is an invaluable tool that helps ensure projects are completed on time, on budget, and to complete satisfaction.

References

Brown, Mark Graham (1996). Using the Right Metrics to Drive World-class Performance. AMACOM.

Fitz-Gibbon, Carol Taylor (1990). Performance indicators. BERA Dialogue.

Reh, F. Key Performance Indicators: How an organization defines and measures progress toward its goals. About.com Management. Retrieved February 21, 2012 from http://management.about.com/cs/generalmanagement/a/keyperfindic.htm

Coca-Cola Bottling Co. Consolidated: Coca-Cola Bottle Co. Consolidated Improves Project Cost Reporting. Microsoft Case Studies. Published 2009. Retrieved February 21, 2012 from http://www.microsoft.com/casestudies/Case_Study_Detail.aspx?casestudyid=4000004270

Marquette University: University Identifies it Project Priorities, Delivers Results to CIO and VP of Finance. Microsoft Case Studies. Published 2010. Retrieved February 21, 2012 from http://www.microsoft.com/casestudies/Microsoft-Project-Server-2010/Marquette-University/University-Identifies-it-Project-Priorities-Delivers-Results-to-CIO-and-VP-of-Finance/4000007234

Revlon: IT Department of Global Cosmetics Company Cuts Time in Meetings by up to 30%. Microsoft Case Studies. Published 2011. Retrieved February 21, 2012 from http://www.microsoft.com/casestudies/Microsoft-Project-Server-2010/Revlon/it-Department-of-Global-Cosmetics-Company-Cuts-Time-in-Meetings-by-up-to-30-Percent/4000011328.....