Project Management White Papers

Measuring the Value of Work Accomplishment (Part 1: Fidelity in Measuring Accomplishment Value)

• Tags:
• project management,
• budget,
• measuring,
• accomplishment

Overview Long before the structured, computer-based project planning systems (PERT and CPM) came on the scene in the late 1950's, project mangers struggled with the task of measuring work accomplishment. This measurement was needed for several reasons. One reason was the need to measure performance, which required a comparison of accomplishment against a plan. Another was to provide a basis for progress payments.

The performance data was needed so we could avoid surprises and make decisions. Without performance measurements (which depend on measuring accomplishment) we cannot determine how well a project is proceeding or forecast the end conditions. Therefore, a common occurrence would be to believe that a project was on time and within budget until the schedule and budget were exceeded. And even then, no one knew how extensive the overruns might be until the project was completed.

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