Resource-Stakeholder Management & KPI-Visual Analytics

Resource-Stakeholder Management & KPI-Visual Analytics

A key performance indicator is a measurable value that shows how productive an organization is in achieving its business objectives. Organizations use KPIs to evaluate how successful and efficient they are in realizing their goals over a period of time. Do you need help with your assignment ? Get in touch with us at eminencepapers.com.

Timelines KPI

Planned hour and time spent, this KPI draws a comparison between the amount of time originally estimated for a particular project or activity to take before its completion versus the actual amount taken for the project to get completed.

Resource capacity is the product of the workforce allocated to work on a project and the amount of time they spend working on it. This metric ensures optimal resource allocation in addition to predicting accurate timelines.

Resource conflict YOY is a quantity that identifies conflicts between available resources and the projects to be executed. Assigning workers to different projects simultaneously or the lack of enough resources for a project can affect timelines. This KPI establishes whether the problem is continuous or temporary.

Budget KPI

Budget variance tells how much the original budget differs by amount from the predicted budget. (Parker, 2020).

Budget creation cycle time is the time needed to formulate an organization’s budget.

The number of budget iterations refers to the number of budget versions created before a final one is reached.

Planned value is the metric that indicates the cost needed to complete a part of a project.

A cost performance index is the ratio of the budgeted cost of the work already done to the actual amount spent.

Quality KPI

Quality KPI measures a number of metrics, such as customer loyalty, which determine whether an organization can retain customers or not. The number of errors implies the number of times an activity needs to be redone. It also quantifies the number of employees working on a project who decide to leave.

Effectiveness KPI

Effectiveness KPI measures the efficiency of a project in terms of the amount of resources dedicated to the activity throughout its entire life cycle and eventually an estimation of the financial relevance of initiating a project through a Return on investment analysis.

References

Pahker. (2020). The 6 Most Important Resource Planning Metrics to Track – Ganttic. Retrieved 6 May 2021, from https://www.ganttic.com/blog/resource-planning-metrics

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Explain the importance of good human resource management,
including the current state of the global IT workforce and the future implications for it
• Define human resource management and understand its processes

• Understand the importance of stakeholder management
throughout the life of an initiative
• Discuss the process of identifying stakeholders, how to create a
stakeholder register, and how to perform a stakeholder analysis
• Describe the contents of a stakeholder management plan
• Understand the process of managing stakeholder plan and how to
use an issue log effectively
• Explain methods for controlling stakeholder engagement
• Discuss software for resource & stakeholder management
Learning Objectives
2
• Discuss human resource management planning and be able to
create a human resource plan, project organizational chart,
responsibility assignment matrix, and resource histogram
• Understand important issues involved in project staff acquisition
and explain the concepts of resource assignments, resource
loading, and resource leveling
• Assist in team development with training, team-building activities,
and reward systems
• Explain and apply several tools and techniques to help manage a
project team and summarize general advice on managing teams
Learning Objectives
3
• Many corporate executives have said, “People
are our most important asset.”
• People determine the success and failure of
organizations and projects