10-Great-Examples-of-PMO-OKRS

Category: PMO OKRs.

A successful program is measured based on delivering positive results leading to business outcomes and many organizations tend to utilize KPIs to evaluate the performance of the Project Management Office (PMO). They might follow the project management process but they ignore reviewing the business outcome of their efforts. Gartner, says that “Not only do PMO leaders need metrics and measures to report their organization’s activities accurately, but they also need to ‘sell’ the PMO’s usefulness and value to the enterprise.”

Tracking PMO performance is not as simple as tracking on-time project delivery within the estimated budget. There is a lot more to it that determines whether the project delivery is successful and also that the PMO is operating as efficiently as it should be. Only by assessing the performance of the PMO, an organization can begin to establish best practices by learning from mistakes and changing the perspective when there is room for improvement.

Many companies fail to often measure project management aligned with the business outcome. So how can project management offices ensure that they are reaching their goals that are so vital to the organization’s success?

OKRs, or Objectives & Key Results, are a powerful goal-setting tool that companies of all sizes and industries use to help set priorities, align goals, and achieve success in their organization. A project management team can undoubtedly use this framework to focus their efforts on what truly matters for the success and development of their business, and help ensure that all requirements are met with focus and alignment.

In this article, we’ve given you 10 great examples of OKRs that would be helpful for your project management team.

#1: Project Timeline KPIs

Your team may work around the clock on a project timeline, but how efficient are they in measuring results? Encourage your team to focus on the objective and its corresponding key results with KPIs that might focus on on-time completion percentage, resource conflict, and a number of adjustments to the schedule.

Objective

David Griffin

Manage project timeline effectively

44%

Target Date: Q4-2021

Visibility: All Employees

key-iconKey Results

Increase on-time completion percentage from 85%to 95%

Q4-2021 increase-icon on-time completion percentage
85% 95% 91%

60%

Decrease resource conflict from 40% to 20%

Q4-2021 decrease-icon Resource conflict
40% 20% 32%

40%

Decrease the number of adjustments to the schedule from 5 to 2

Q4-2021 decrease-icon Number of adjustments to the schedule
5 2 4

33%

#2: Project Budget KPIs

Managing your project budget is a vital aspect in evaluating the PMO performance, so help your team manage budget by controlling the project costs with the approved budget towards the delivery of desired project goals.

Objective

David Griffin

Improve Project budget management

13%

Target Date: Q4-2021

Visibility: All Employees

key-iconKey Results

Maintain project budget variance between $1000 to $3000

Q4-2021 control-kpi-iconBudget Variance
$0 $4000 $2033.76

7%

Reduce the number of budget iteration from 7 to 4

Q4-2021 decrease-iconBudget Iteration
7 4 6

33%

Maintain cost performance index by at least 30%

Q4-2021 control-kpi-iconCost Performance Index
0% 45% 12%

0%

#3: Project Quality KPIs

Try to implement the habit of enhancing the project quality among your teams, by helping them focus on the process and the activity that augments their performance towards quality policies, objectives, and responsibilities of the project undertaken.

Objective

David Griffin

Boost the quality of PMO performance

50%

Target Date: Q4-2021

Visibility: All Employees

key-iconKey Results

Improve net promoter score from 3.5 to 4.0

Q4-2021 increase-icon NPS
3.5 4 3.85

70%

Increase # of projects delivered from 5 to 7

Q4-2021 increase-icon # of projects delivered
5 7 6

50%

Increase the % of projects reporting the earned value on a monthly basis from 75% to 85%

Q4-2021 increase-icon % of projects reporting
75% 85% 78%

30%

#4: Project Effectiveness KPIs

The effectiveness of the project relies on meeting the end by doing the right thing for the desired time period. This means that efficiency does not focus on managing quality for the short term instead the word effectiveness means focusing on long-term quality with the desired objective and key result.

Objective

David Griffin

Improve the project effectiveness

24%

Target Date: Q4-2021

Visibility: All Employees

key-iconKey Results

Maintain the training/research hours between 10hrs to 15hrs

Q4-2021 control-kpi-iconTraining/Research Hours
0 Hour(s) 18 Hour(s) 12 Hour(s)

7%

Reduce the number of unplanned change requests from 5 to 0

Q4-2021 decrease-iconUnplanned Change Requests
5 0 3

40%

Maintain billable utilization hours between 40 hrs to 20hrs

Q4-2021 decrease-iconBillable Utilization Hours
40 Hour(s) 20 Hour(s) 35 Hour(s)

25%

#5: Project task management KPIs

Make sure that your team develops the quality of monitoring the process of project tasks throughout the stages. The KPIs suggested here like the baseline schedule, milestones achieved on time, project tasks on a critical path CPM will help your team actively make decisions and accommodate to changes of the real-time issues and progress.

Objective

David Griffin

Improve the execution of project task management

43%

Target Date: Q4-2021

Visibility: All Employees

key-iconKey Results

Decrease time taken for baseline schedule from 128 hrs to 80hrs

Q4-2021 decrease-iconBaseline Schedule
128 Hour(s) 80 Hour(s) 99 Hour(s)

60%

Increase the number of milestones achieved on time from 50% to 80%

Q4-2021 increase-iconMilestones Achieved on Time
50% 80% 62%

40%

Reduce the percentage of project tasks on critical path CPM from 40% to 20%

Q4-2021 increase-iconProject Tasks on Critical Path CPM
40% 20% 34%

30%

#6: Project issues KPIs

During the times where you encounter problems while executing the project, you need to be ready to resolve issues promptly. Just identifying the issues that impair the project’s ability to progress on time itself can help you save 60% of your time, and resolving them promptly after identifying them will accelerate the project performance.

Objective

David Griffin

Resolve project issues on time

43%

Target Date: Q4-2021

Visibility: All Employees

key-iconKey Results

Decrease number of unresolved issues from 30 to 10

Q4-2021 decrease-iconUnresolved Issues
30 10 17

65%

Decrease the number of issues per resource from 20 to 0

Q4-2021 decrease-iconIssues per Resource
20 0 11

45%

Decrease the number of customer issues from 10 to 0

Q4-2021 decrease-iconCustomer Issues
10 0 8

20%

#7: Project Risk KPIs

While working on a project, your team may encounter uncertain events or, unexpected conditions, predicting them beforehand can help you be ready with the solutions. KPIs that identify risks and catastrophic events can help you detect issues right away and solve them without any inconvenience.

Objective

David Griffin

Improve project risk management process

48%

Target Date: Q4-2021

Visibility: All Employees

key-iconKey Results

Decrease the number of risks with catastrophic impact from 30% to 5%

Q4-2021 decrease-iconNumber of risks with Catastrophic Impact
30% 5% 14%

64%

Increase the number of reviewed project risks from 60% to 100%

Q4-2021 increase-iconNumber of Reviewed Project Risks
60% 100% 79%

48%

Increase the number of closed project risks from 70% to 100%

Q4-2021 increase-iconClosed Project Risks
70% 100% 80%

33%

#8: Project status KPIs

Your team may focus on achieving the level of progress to attain the objective, so planning and tracking the status of the project right from the beginning to the end will help your team attain their corresponding objective and key results on time. The KPIs suggested below can drive your goal effectively.

Objective

David Griffin

Elevate the health status of your project

27%

Target Date: Q4-2021

Visibility: All Employees

key-iconKey Results

Increase number of projects in green (on schedule) between 8 to 10

Q4-2021 control-kpi-iconProjects in green (on schedule)
0 11 9

7%

Reduce the number of canceled projects from 10 to 4

Q4-2021 decrease-iconCanceled Projects
10 4 7

50%

Decrease the number of on-hold projects from 5 to 1

Q4-2021 decrease-iconNumber of on-hold Projects
5 1 4

25%

#9: Project Resources KPIs

Managing the project resource in an effective way can be challenging, listed below are some of the best key results that would help your team focus on the resources efficiently to complete the project within the approved resource.

Objective

David Griffin

Optimize project resource utilization

31%

Target Date: Q4-2021

Visibility: All Employees

key-iconKey Results

Increase resource-wise percentage utilization in a project from 85% to 90%

Q4-2021 increase-iconResource-wise Percentage Utilization
85% 90% 88%

60%

Maintain the cost of resource billing in a project at least at $4000

Q4-2021 control-kpi-iconResource Billing in a Project
$2000 $6000 $3878.81

0%

Increase the resource forecasting accuracy from 75% to 90%

Q4-2021 increase-iconResource Forecasting Accuracy
75% 90% 80%

33%

#10: Product efficiency KPIs

Help your team focus on product efficiency so that the performance of the product can be leveraged towards the commitment made by your team to the client. Try focusing on the key results that would spotlight functional test coverage, post-product defect test, and product features to business value mapping score.

Objective

David Griffin

Boost the functional efficacy of the product

32%

Target Date: Q4-2021

Visibility: All Employees

key-iconKey Results

Increase functional test coverage executed based on business requirements from 70% to 100%

Q4-2021 increase-iconFunctional Test Coverage
70% 100% 89%

63%

Reduce the post product defects test rate from 7% to 4%

Q4-2021 decrease-iconPost Product Defects Test
7% 4% 6%

33%

Maintain the product features to business value mapping score at >8

Q4-2021 control-kpi-iconproduct features to business value mapping score
0 8 2

0%

These ten examples of project management OKRs can serve as a starting point to set the success metrics for your organization. Getting the wheels turning and reading OKR examples can help you visualize the OKR structure as well as brainstorm what your top objectives should be! It helps you consider multiple perspectives and find the best possible OKRs to measure the performance of PMO.

The benefits of the OKR framework include a better focus on results that matter, increased transparency, and better (strategic) alignment. OKR achieves this by organizing employees and the work they do around achieving common Objectives.

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