Performance measurement for projects and project management

The unexpected cost overruns and schedule delays that resulted from the computer systems and construction projects developed during the 1970s have given rise to the need for processes to measure project and project management performance. This article outlines a system for measuring project performance in relation to the project schedule. In doing so, it identifies the system's key components, indicators, and elements and explains the process for using these to evaluate project performance. It then examines the process of measuring project management performance, defining project management's three fundamental functions (plan, execute, control) and describing the key activities involved in implementing each of these functions. It also suggests several questions for evaluating project management performance in relation to the scheduling process.