KPI (Key Performance Index)

Moosa,
The KPI that I’m familiar with is a Key Performance Indicator. These are used as points of reference to monitor items of critical importance or items that you are concerned about.

They can cover a wide range of data, from Burn rate to spend rate, Cash flow to employee retention.
Basically anything that can be used a a health monitor for the project can also be used.

The indicies that I am familiar with are the CPI Cost Performance Index, SPI Schedule Performance index and TCPI To Complete Performance Index, to name but three.

I hope that this has helped.

Andy

Dear Moosa,
I think this tool KPI is used for to evaluate the progress of work. For eg, as per programme certain quantity of tiles should be fixed in a particular week. But in actual it may be different. By comparing this 2 values we will get KPI.

This comparison will do for diiferent materials like concrete, curtain wall, Etc.

If other members give more explanations in KPI, that will be helpful

Regards

Dear Andrew & Noufel,

Thanx for the replies. KPI may be Key Performance Indicator. Not index.

Can you explain more about Key Performance Indicator? How and when it is used?
Main benefits of using KPI, Etc

Regards
Moosa

Hi Moosa,

Key Performance Indicators in practical terms and strategy development means are OBJECTIVES to be target that will add the VALUE to the business MOST.

Key Performance Indicators define a set of values used to measure against. These raw sets of values fed to systems to summarize information against are called indicators. These Indicators can be:

Quantitative indicators which can be presented as a number.

Practical indicators that interface with existing company processes.

Directional indicators specifying whether an organization is getting better or not.

Actionable indicators are sufficiently in an organization’s control to effect change.

What is important is:

1. KPI-related data which is consistent and correct.
2. Timely availability of KPI related Data.

Faster availability of data is beginning to become a concern for more and more organizations. Delays of a month or two were commonplace in construction projects. Many companies have tried to move to availability of data at shorter intervals and less delays. For example, in businesses which have higher operational/credit risk loading, has moved onto a weekly availability of KPI related data or sometimes a daily analysis of numbers. This means that data is usuall y available within 24 hours as a result of automation and the use of IT.

Hope this is clear.

Cheers,

Ravi

Thank you Ravi,
Can you pls explain with an example?
Then I can understand more.
Regards

Hi Moosa,

Check this link. It might give u better idea, as it has more than 800 KPI examples.

http://kpilibrary.com/

Cheers,

Ravi

Thank you Ravi for sharing this site address with us
Regards

Hi Moosa,

I would also suggest this article: Efficiency KPI for Effective Project Management

Simple

Client gives you a few targets to hit & you have to monitor against them.

Some go on about safety KPI’s - all very well and good
Some go on about cost KPI’s - all very well and good
Some go on about program KPI’s - their the ones you have to look out for.

In the earliest stages of a proect, highlight these to your project and see if you cant get these changed.

HAha