Expert answer:Key Performance Indicators (KPIs)

Solved by verified expert:For this week’s discussion, assume you are heading a PMO in your organization or in an organization you are familiar with, and you have decided to identify five project performance KPIs for effective monitoring and control of the portfolio of projects. What five KPIs would you choose and why? Also, describe your project control strategies for areas that may have blind spots (areas that are not within the coverage of your KPIs).Support your statements and conclusions using at least one of this week’s recommended readings and one outside reference (a peer-reviewed scholarly article published in the last five years, references not to include required or recommended reading assignments, or the textbook).ReferencesChapter 4 in Project Management Metrics, KPIs, and Dashboards: A Guide to Measuring and Monitoring Project Performance.Chapter 10 in the PMBOK® GuideBowles (2011) asserts that work health index metrics are becoming an important measurement for the overall wellness of a workplace. Think about those metrics too.Bowles, M. (2011, 05). KEEPING SCORE. PM Network, 25, 50-52,54.Also address this question from Professor.Think about this. A “health check” for a portfolio of projects, as discussed by Philbin and Kennedy (2014), could be used to perform periodic reviews of cost, time, quality, relationships, safety, environment and stakeholders. What is the right period for this review?Reference Philbin, S. P., & Kennedy, D. A. (2014). Diagnostic framework and health check tool for engineering and technology projects. Journal of Industrial Engineering and Management, 7(5), 1145-1166.

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