The Analytics of Compass Consult
In the realm of project management, akin to the quest for the One Ring, there exists a powerful set of tools designed to govern and guide the intricate journey of schedule validation. These are the eight Key Performance Indicators (KPIs) illuminated by the analytics of Compass Consult, each serving as a cornerstone on the SV Schedule Dashboard.
These KPIs, forged to make our schedule reviews not only more insightful but also transformative for project teams and executives, include:
- Schedule Validation Score
- Finish Date Variance (Finish Slip)
- Contract Variance
- Critical Path Slip in Progress Window
- Critical Path Compression
- Schedule Execution
- Remaining Compression
- Schedule Change Percentage
Like the Rings of Power, each of these KPIs holds the ability to uncover various aspects of project scheduling and execution, essential for navigating the complex landscape of project management. At the heart of this arsenal is the Schedule Validation Score, akin to the One Ring, which forms the foundation upon which all other KPIs rely. Without this critical assessment of schedule quality— validated through a user-driven and easily navigable system—the integrity of all subsequent reporting is compromised. This crucial set of metrics ensures that every schedule review is
comprehensive and no critical element is overlooked, thus empowering project teams to steer their ventures toward successful and timely completion.
Quality KPI
Schedule Quality Assessment (Schedule Validation Score)
This KPI measures the variance in the project’s finish date over time by comparing two schedules. It is a straightforward metric that provides valuable insights into the consistency of schedule execution and any changes in project completion timelines. Derived from a windows analysis, the Finish Variance is one of the most frequently reviewed metrics during the schedule review process. Its regular assessment underscores its critical role in tracking project progress and detecting any scheduling discrepancies early on.
Finish KPIs
Finish Variance
This KPI measures the variance in the project’s finish date over time by comparing two schedules. It is a straightforward metric that provides valuable insights into the consistency of schedule execution and any changes in project completion timelines. Derived from a windows analysis, the Finish Variance is one of the most frequently reviewed metrics during the schedule review process. Its regular assessment underscores its critical role in tracking project progress and detecting any scheduling discrepancies early on.
Contract Variance
This KPI is crucial when assessing compliance with contractual timelines. It is activated by comparing the current planned completion date against the originally stipulated contract completion date, highlighting any discrepancies. This variance not only indicates the current status of the project in relation to its contractual obligations but also helps in identifying potential issues that may require contract adjustments.
Together, these variances are instrumental in identifying delays and monitoring the status of any necessary contract adjustments. Their dual application provides a comprehensive overview, enabling project managers to maintain rigorous control over both project timelines and contractual commitments, thus ensuring successful project delivery.
Progress KPI
Progress KPIs are essential for assessing the effectiveness and efficiency of construction project schedules. These indicators involve the comparison of two specific schedules at distinct points in time, often referred to as “data dates” or “status dates.” The evaluations are conducted within two
key windows:
1. The Progress Window: This is the timeframe between two selected schedules (Schedule A and Schedule B). Within this window, the actual work completed is evaluated against the planned work as outlined in the initial schedule. This comparison aids project managers in determining whether the project is progressing as expected, whether it is ahead of schedule, or falling behind.
2. The Compression (Forecast) Window: This phase extends from the second date being compared to the projected end of the project.
By leveraging these windows, Progress KPIs offer a dual perspective of both historical execution and future projections, providing comprehensive insights into the health of the project’s schedule. This dual-view approach empowers project managers to make informed decisions that guide the project toward timely and cost-effective completion.
Critical Path Progress
The Critical Path Analysis specifically utilizes the Progress Window to evaluate the progress of the critical path between two key schedules, designated as Schedules A and B. This analysis is essential for identifying whether the project is currently lagging behind in critical path work, independent of any adjustments that may appear in the Compression or “forecast” window. By focusing on this window, managers and executives can gain a clear view of current delays or issues. The analysis quantifies any setbacks or delays on the critical path during this specified period, providing a crucial indicator of project health. This focused insight allows decision-makers to ascertain if a project is falling behind schedule, enabling timely interventions and strategic decisions to realign the project with its planned trajectory.
Critical Path Compression
The Compression Window of the Critical Path Analysis serves to evaluate adjustments made to future activities that could affect the planned completion date of a project. This assessment measures Critical Path Compression by analyzing how the projected finish date changes in response to modifications in the critical path duration. Positive Compression occurs when these adjustments result in an earlier completion date, reflecting an acceleration of project tasks through duration reduction or re-sequencing. Conversely, negative Compression happens when the end date extends beyond what would be expected from the critical path progress slip alone. This typically signals a change in the critical path itself, suggesting that other factors or newly prioritized tasks are now influencing the extended completion date. For project managers and executives, understanding these dynamics is crucial for anticipating project timelines and making informed decisions about resource allocation and strategic direction
Schedule Execution Score
The Baseline Execution Index (BEI), or Schedule Execution Score, is a crucial metric originally outlined in the Defense Contract Management Administration (DCMA) 14-point guidelines. This score is enhanced in the Compass Consult to offer a more dynamic and adaptable measure of project execution. Unlike traditional methods that primarily assess execution against the baseline schedule, the Compass Consult’s Execution Score is designed to monitor execution scores dynamically between any two selected schedules (Schedules A and B).
This flexibility allows for a continuous assessment of how well a project team is managing and planning work within any given Progress Window. It highlights the efficiency of activity starts and finishes in real-time scenarios, providing a more comprehensive view of both adherence to the planned timeline and the ability to execute scheduled tasks effectively across various stages of the project lifecycle. This enhanced monitoring capability is particularly valuable for identifying potential delays and optimizing project execution strategies.
Remaining Schedule Compression
Remaining Work Compression, closely linked with Schedule Execution, is calculated by analyzing the average number of activity working days left in the project’s timeline. Working days are determined by counting the number of activities in progress on a given day, week, or month. For example, a project averaging 5 activities in progress daily equates to 5 working days per day, 25 for a five-day workweek, and approximately 100 for a month.
An increase in these numbers indicates that work is being delayed or pushed out, increasing Compression. This metric helps project teams understand the density and volume of remaining work, providing insights into potential future delays and the effectiveness of current project execution strategies.
Changes KPI
Schedule Changes
Schedule changes are a pivotal key performance indicator (KPI) for conducting thorough schedule reviews. While regularly updating and adjusting the project schedule is crucial for accuracy and reflects the dynamic nature of project management, a high frequency of changes—either within a single update or consistently from one update to the next—may indicate initial planning deficiencies or poor schedule quality.
A commonly used metric to monitor this aspect is the Schedule Change Index Score, which tracks the number of logic changes between two schedule updates, including any activities added or deleted. Careful monitoring of these changes is essential, as it not only highlights the extent of deviations from the original plan but also signals potential issues in the project’s management. Excessive alterations suggest that the schedule may not be a reliable tool for guiding project execution, requiring stakeholders to reassess and possibly recalibrate their planning strategies to ensure the project remains on track and aligned with its objectives.
Mastering Project Management with Essential KPIs
In conclusion, the eight Key Performance Indicators outlined in this article are not merely tools; they are essential guides that steer project managers through the complexities of schedule management and help secure the success of their projects. From the foundational Schedule Validation Score to the insightful Finish Date Variance and the strategic Schedule Change Percentage, each KPI serves a distinct purpose, providing a comprehensive view of the project’s health and trajectory.
Understanding and implementing these KPIs effectively ensures that project teams can not only react to current conditions but also proactively manage and influence future outcomes. This dynamic approach to project management, supported by robust and reliable metrics, is crucial for navigating the ever-evolving challenges of construction and development projects. As we harness the power of these eight KPIs, we equip ourselves with the knowledge and tools necessary to rule our project timelines, optimize resource allocation, and ultimately deliver projects that are not only successful but exemplary in their execution. Let these KPIs be the guiding stars in your project management journey, leading you to the successful realization of your strategic objectives and beyond.