Benchmarking

Project Benchmarking

Different industries face different obstacles in regard to project management. A construction project will tackle tangible and physical spaces while an IT project will reside more in an intangible and uncertain space. Because of these differences project management is difficult to compare across different industries. Therefore benchmarking must be constructed in each industry individually so that project managers can compare their projects to metrics that are relevant to their particular industry. For example, metrics from the telecommunications industry might not be relevant to the construction of a hospital. This analysis will provide an overview of benchmarking projects to various industries and the construction of industry standards that can be useful to help guide projects.

Benchmarking

Project management can benefit greatly from the construction of best practices. These best practices can be incorporated into a process known as benchmarking. Hasbro Children's Hospital in the early 1990s benchmarking "best-in-practice"...
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