Different teams in your company are working on various tasks to achieve a common goal- timely completion of projects. Here, a project management KPI (Key Performance Indicator) plays a vital role in building team synergy and accomplish projects on time. KPIs consist of the key performance goals across all aspects related to team involvement for a specific project.
In this article, we are going to see how a feature-rich task management app, TaskOPad assists your teams to achieve project management KPIs. But before moving forward, let’s have a brief introduction of project management KPIs and their importance in modern businesses.
Project Management KPIs- Measuring Efficiency and Productivity
In project management, KPIs involve various measurement tools for showing how teams are achieving specific goals. On one hand, these KPIs reflect the company’s central objective of the project, and on the other hand, they can strengthen accountability and responsibility among team members across different departments. Even if the scope and T&Cs of KPIs may differ from one project to another project, some benchmarking measures including ROI (Return on Investment), cost performance, cycle time, and customer satisfaction remain the same.
Here are some of the examples of project management KPIs-
- Monthly labor costs spent
- Resource allocation for the project
- Development backlog
- Estimated project completion time
- Project schedule
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