Key Metrics Flashcards
What are KPIs (Key Performance Indicators)?
Metrics used to measure the success of a program or project against its objectives.
Give an example of a KPI for project success.
Project delivered on time and within budget, or Customer satisfaction score above 90%.
What is Earned Value Management (EVM)?
A project management technique that measures project performance in terms of scope, time, and cost.
What is the difference between Leading and Lagging Indicators?
Leading indicators predict future performance
while lagging indicators show past performance.
What is Burnup/Burndown Chart?
A Burnup chart shows work completed over time.
A Burndown chart tracks remaining work against the timeline.
What is Scope Creep?
The uncontrolled expansion of project scope without corresponding adjustments in time, cost, or resources.
What is the Triple Constraint?
The balance of three primary project constraints: Scope, Time, and Cost.
What is the difference between Qualitative and Quantitative KPIs?
Qualitative KPIs measure subjective outcomes (e.g., team satisfaction).
Quantitative KPIs measure numeric outcomes (e.g., time to delivery).
What is a SMART KPI?
A KPI that is Specific, Measurable, Achievable, Relevant, and Time-bound.
What is Velocity in project management?
The rate at which a team completes work in a given time period, usually measured in story points or tasks completed.
