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Evaluate project metrics
The Evaluate phase is critical to ensuring that the work is getting done as agreed upon in the statement of work (SOW).
Creating metrics is key to understanding if your investment is generating the intended ROI. It is also an early warning system to get ahead of possible issues…
Once the consultant is on board, the evaluation process begins. It’s common to start off a project with clear metrics, but then things evolve over time. Constant evaluation of metrics ensures goals are being met and both parties have the same understanding.
Determine what data is critical to track and in what cadence. We have observed that fewer metrics are more impactful than many, but this depends on the project. Ask your consultant to provide and manage a scorecard, that highlights the metrics, to measure progress and spot trends in your business.
Remember, as business needs change so will the goals and metrics. Continuously evaluate the KPIs eliminate those that are no longer meaningful and add in the new ones that are relevant.
- What are the key project metrics?
- What format will I use to review those metrics?
- How often will I review the key metrics?