Progressive Intelligence Consulting Group
Managing Execution & Program Performance Metrics
Managing execution and attaining program objectives requires a rigorously-applied, disciplined approach to program risk management and monitoring the performance metrics of the individual projects
Managing Execution – Risk Management
Experienced Project & Program Managers know that the key to a successful conclusion of a project or program is the planning and preparation, leading up to execution. However, once in the thick of the project, successfully managing execution of your plans involves:
- a disciplined approach to monitoring progress
- managing change
- providing leadership to your project team
- communicating with stakeholders
- anticipating and managing risk
Managing execution is where your planning and preparation meet reality. In there New York Time Best Selling Book, “Execution, The Discipline of Getting Things Done”, Larry Bossidy and Ram Charan state:
“To understand execution, you have to keep three key points in mind:
- Execution is a discipline, and integral to strategy.
- Execution is the major job of the business leader.
- Execution must be a core element of an organization’s culture."
The three key points above directly apply to all of your organization’s projects. If “strategy” is the planning and preparation on your project, then “execution” is the discipline in carrying-out your plans.
Typically, risks are identified during a planning phase – business planning, project planning, product planning, program planning, etc. Once risks are identified, perform a qualitative and quantitative analysis to determine the effect of the risk, the probability of the risk occurring, and the relative consequence or impact of the risk on the business, department, or project.
After identifying the anticipated risks and performing a detailed analysis of the probability of occurrence and the impact, a suitable response and/or corrective action should be aligned with each risk. Finally, identify “triggers” or thresholds for each risk.
Program Performance Metrics
A critical component of successfully managing execution is monitoring performance and progress toward objectives. This applies to projects, programs, and business organizations. Two keys to effectively monitoring performance and progress are:
- Establishing performance metrics aligned with organizational objectives, and
- Instituting performance/progress measurement procedures and corrective actions should performance fall below pre-determined thresholds.
Program performance metrics should focus on the work being performed, the schedule, and the budget or cost of the program.
Specify the frequency and procedure for measuring program performance and progress in the program plan documents.
Managing Execution – “The Progressive Intelligence Way”
Progressive Intelligence uses various performance measurement techniques keyed to achievement of overall business objectives and the attainment of specific project and program objectives. From the program and project management perspective, performance is typically aligned with schedule and cost.
Schedule and cost performance are easily measured and monitored, during execution, through the use of an EVMS – “Earned Value Management System” -- a set of calculations that:
- Compare actual performance against the pre-established baseline cost (project budget), using actual costs versus the work completed
- Indicates the amount of work performed to date (the point of the calculations), versus the schedule of the amount of work to be performed
- Predicts final cost and schedule (at completion) for the project, within an expected range
Progressive Intelligence has the executive business leadership and program management experience to assist you in developing your company's performance measurement discipline to measure your progress while managing execution.
