This plan focuses on developing timelines and Key Performance Indicators (KPIs) that are both feasible and effective in driving project success. The metrics included, such as Project Completion Rate and On-time Delivery Rate, help ensure that projects are completed within set time frames and deadlines. By maintaining benchmarks like 80-90% for project completion, teams can identify areas needing improvement, such as setting milestones or adjusting timelines.
Another crucial metric is Scope Change Request Rate, which aims to measure how often there are deviations from the original project scope, pointing to potential planning issues. Keeping this metric under 10% helps highlight the importance of clear initial planning and ongoing stakeholder communication. Budget Variance and Team Productivity ensure financial and operational efficiency, encouraging consistency in financial forecasting and team output.
Top 5 metrics for Timelines and Feasible KPIs
1. Project Completion Rate
Measures the percentage of projects completed on time within the planned timeline
What good looks like for this metric: 80-90%
How to improve this metric:- Set clear project milestones
- Use project management tools
- Regular progress reviews
- Allocate resources effectively
- Adjust timelines as needed
2. On-time Delivery Rate
Tracks the percentage of tasks or projects delivered by the agreed deadline
What good looks like for this metric: Above 85%
How to improve this metric:- Identify potential bottlenecks early
- Communicate deadlines clearly
- Set realistic schedules
- Prioritise critical tasks
- Monitor progress frequently
3. Scope Change Request Rate
Measures how often project scopes change, indicating potential misalignment with initial plans
What good looks like for this metric: Less than 10%
How to improve this metric:- Define clear scope at the start
- Conduct thorough stakeholder consultations
- Implement a formal change request process
- Engage in continuous communication
- Evaluate risks proactively
4. Budget Variance
Compares the budget forecasted with the actual spend to determine financial accuracy
What good looks like for this metric: Within ±5%
How to improve this metric:- Track expenses regularly
- Review budget assumptions
- Implement cost-control measures
- Reallocate funds as necessary
- Maintain transparent reporting
5. Team Productivity
Assesses how efficiently teams complete tasks within the designated timeline
What good looks like for this metric: 3-5% improvement per quarter
How to improve this metric:- Provide proper training
- Encourage collaboration
- Incorporate technology solutions
- Set clear roles and responsibilities
- Review workloads and redistribute as needed
How to track Timelines and Feasible KPIs metrics
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your metrics.
