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
closed as primarily opinion-based by Todd A. Jacobs♦ Jul 28 at 20:16
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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