Understand performance metrics
The video discusses financial performance metrics and settings for project management. ​ Key points include:
Performance Metrics Overview: Metrics such as cost performance index, schedule performance index, cost schedule performance index, and estimated completion are available under the Project Details tab and finance section. ​ Documentation for calculations can be accessed via info bubble links.
Performance Index Method (PIM): The project manager can select the method for calculating the cost performance index (CPI) and estimate at completion (EAC), either hour-based (completion in hours) or cost-based (completion in money). ​ System administrators can set the default method globally, but project managers can adjust it for individual projects. ​
Estimate at Completion (EAC) Calculation: System administrators can set the default calculation method globally, with two options:
- Roll-up from tasks/subtasks: Adds estimate at completion values from child tasks but excludes hours added directly to parent tasks or the project level. ​
- Calculated at project level: Includes estimate at completion values from child tasks and hours added directly to parent tasks or the project level. This is the recommended default. ​
The video emphasizes the flexibility and control available to both system administrators and project managers in managing performance metrics and calculations. ​
Key takeaways
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Performance Metrics Access: Key metrics like cost performance index (CPI), schedule performance index (SPI), and estimate at completion (EAC) can be found under the Project Details tab in the Finance section, with documentation available via info bubble links. ​
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Performance Index Method: Project managers can choose between hour-based or cost-based methods for calculating metrics, while system administrators can set a global default.
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Estimate at Completion Calculation Options: Two methods are available:
- Roll-up from tasks/subtasks (excludes hours added directly to parent tasks or project level). ​
- Calculated at project level (includes hours added directly to parent tasks or project level). The latter is recommended. ​
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Global vs. Project-Level Settings: System administrators can set global defaults for performance index method and estimate at completion calculations, but project managers can override the performance index method setting for individual projects. ​
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Flexibility in Metrics Management: The system provides tools for both administrators and project managers to customize and manage performance metrics effectively, ensuring adaptability to project-specific needs.