On time, on Budget is not enough: 7 KPIs for your projects

The Dutch say “Meten is Weten” – to measure is to know. in Project Management, targets are used slightly differently. Rather than set an arbitrary target, you create a plan. To measure, you compare your plan against reality (your “actuals”). Project performance measures how well you are delivering against your plan. The traditional performance measurements for projects have always been cost and time. There’s even an acronym OTOB which neatly sums up the Project Manager’s drive to deliver on time, on budget. When people speak about project performance, they typically are talking about OTOB: are you delivering on time, on budget, relative to your original agreed plan?