July, 2021 – Guy Thorpe – (3 min read)
An overreliance on Lagging Metrics is a bit like driving a car while looking through the rear-view mirror…..
In our recent #projectsimplification collaboration Milvio D – Strategy Implementation Professional and I look at the issue of Lagging metrics that measure past #project #performance in status reports rather than Leading indicators.
Lagging metrics alone don’t prepare projects to see the perils ahead until it’s too late and simply tell the story after the event has happened.
There is little the project board can do for example to change the outcome of an overspend. As such, #organisations need to look beyond Lag indicators as a stand-alone performance measurement.
The use of Leading measures such as planned tasks or forecast benefits etc can help the #organisation and the accountable officer pay attention to early warning signs where things may not be going according to plan, so enabling timely corrective action to be taken.
The unbalanced use of Lag indicators (for time, cost, scope, risks, benefits, and quality) and a lack of prediction-based (leading) indicators remains a critical issue for transparent project performance measurement.
Whats your thoughts?