Performance Management
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Performance Measurement
Veronica Roberson
MGT 437
May 03, 2012
Professor Paul Sam
Performance Measurement
Performance measurement is an uninterrupted program for overseeing and controlling the advancement of a project and compare it with the predetermine goals of the project. Performance measure covers the type of program activities, output of products, and services supplied by the program and the outcomes of those product and services (United States General Accounting Office, 1998). Performance measures are used to meet a multiplicity of the project goals and it is also used to verify the project accomplishment or disappointment. Performance can be measured in many ways, along with varying definitions and methods and principals.
The category of the choices of performance measures is made on the foundation of the sizes. These sizes are the most advantageous resource utilization, innovation, and financial performance, quality of services, competitiveness, and flexibility of operations. There are different types of performance measurements for instance sales and marketing, research and development and environmental measurements, human resources, manufacturing & productions indicators, and non-financial indicator.
Project managers also use performance measurement to lend a hand in planning, initiating, executing, and closing projects that tare worked on. With the use of measures, such as evaluating, controlling, and budgeting assists the project managers and team members keep an eye on the development of the project. This paper will compare and contrast the three Earned Value Management performance measurements: Planned Value, Earned Value, and Actual Cost.
Planned Value
Planned value is defined as, “the value of the work planned for a certain date. It is the entire budget for work to be completed at the planned date. In Scrum terminology: it is the sum of the estimated feature sizes for all the features up until the planned date” (Martinig...
Veronica Roberson
MGT 437
May 03, 2012
Professor Paul Sam
Performance Measurement
Performance measurement is an uninterrupted program for overseeing and controlling the advancement of a project and compare it with the predetermine goals of the project. Performance measure covers the type of program activities, output of products, and services supplied by the program and the outcomes of those product and services (United States General Accounting Office, 1998). Performance measures are used to meet a multiplicity of the project goals and it is also used to verify the project accomplishment or disappointment. Performance can be measured in many ways, along with varying definitions and methods and principals.
The category of the choices of performance measures is made on the foundation of the sizes. These sizes are the most advantageous resource utilization, innovation, and financial performance, quality of services, competitiveness, and flexibility of operations. There are different types of performance measurements for instance sales and marketing, research and development and environmental measurements, human resources, manufacturing & productions indicators, and non-financial indicator.
Project managers also use performance measurement to lend a hand in planning, initiating, executing, and closing projects that tare worked on. With the use of measures, such as evaluating, controlling, and budgeting assists the project managers and team members keep an eye on the development of the project. This paper will compare and contrast the three Earned Value Management performance measurements: Planned Value, Earned Value, and Actual Cost.
Planned Value
Planned value is defined as, “the value of the work planned for a certain date. It is the entire budget for work to be completed at the planned date. In Scrum terminology: it is the sum of the estimated feature sizes for all the features up until the planned date” (Martinig...