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Quantified Business Results – A Project within a Project

I don’t think anyone would dispute that taking the time to document business results at the end of a project is a worthwhile activity. In reality, it is often looked upon as a “necessary evil”. Is it because:

  • The measurement of success was not firmly established
  • Current benchmarks and KPIs were not locked down before the project began

  • Time was not allocated in project budgets to complete this task

  • Moving on to the next project takes higher priority

  • It takes time for an automation project to yield measureable results and going back to capture a QBR is not a management requirement

  • There are more intangible results than tangible

  • Business results are acknowledged by consensus and not deemed necessary to document

  • All of the above?

Regardless of whether business results are to be kept strictly internal, minimally circulated or published for all to see, a QBR is like a project within a project and if treated as such would get the attention and priority it deserves. A project manager or designee should be responsible for making sure the objectives and benchmarks are clear and agreed to by all parties and track progress through to published results. If the appropriate measurement mechanisms, such as historical tracking of variables affecting KPIs, are in place from the beginning as would have been done during benchmarking, perhaps QBR’s can take care of themselves. Easier said than done? I’d be interested to get some thoughts on this topic.

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  • Great discussion...How do YOU determine if your project was a success? Share your thoughts with community...

    Best Regards,

    Rachelle McWright: Business Development Manager, Dynamic Simulation: U.S. Gulf Coast