I know its very subjective question, however in general I wanted to understand which are the top three metrics as PM, I should look at while working in a Software project
Metrics are usually accounted through what is called Earned Value Management (EVM).
EVM allows Project Managers (PMs) to measure i) the technical performance, ii) cost and iii) schedule of a project against planned objectives.
PMs compute metrics so that they can act proactively rather than reactively to address an issue on scope, cost or schedule.
For classical projects, metrics are:
Cost Variance (CV), Cost Performance Index (CPI)
Schedule Variance (SV), Schedule Performance Index (SPI)
Budget/Estimate/Variance At Completion (BAC/EAC/VAC)
To Complete Performance Index (TCPI).
However, EVM depends on what lifecycle you adopt for your project.
There are three different lifecycles that you can use to manage your project.
- Predictive (classical),
- Iterative (incremental),
- Adaptive (flexible).
Typically, for IT and Software projects, PMs choose iterative or Adaptive lifecycles. For example: Agile or Scrum.
It is however possible to implement EVM in Agile projects using 3 parameters:
- and Cost.
Using these, PMs can assess scope, throughput and cost.
For details, Pls refer to the Project Management Body of Knowledge (PMBoK®) Guide of Project Management Institute (PMI®) at https://www.pmi.org