PM benchmarking useful or not?
The guys at Project management knowledge wrote an article on the use of benchmarking in projects (full article here).
The main points are from a Laurence Nicholson report form 2006 where is said:
- Not every organization can or should use the same metrics for project analysis. Failing to correctly match metrics with real life objectives simply leads to wasted resources with no added value to show for it.
- Using a balanced blend of subjective and objective metrics makes sense. Easily measurable factors like cost and time should be weighed alongside more subjective factors like customer satisfaction and team cohesion.
- Metrics may be used to determine whether processes are consistent or if there are areas where approved methods are not being used.
- Staffing levels and employee engagement are critical to the success of projects. PMs should understand HR metrics that impact project performance and collaborate with HR to increase the quality and availability of project team members.
- One of the most often overlooked aspects of project management benchmarking is its role in determining if projects are aligned with larger organizational goals.
I think that first point (not every organization can or should use the same metrics for project analysis) is the most important one.
Benchmarks are something to compare with (if it makes sense) but remember that every project and organization is different.
In my experience, also I’ve learned that Project Management is not the mere application of numbers to activities, because every project or challenge embeds a little of “heart” put inside by people that can modify a lot the ability to reach the objective.
This post as a comment also here