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Home > Executive Report > Tools
Defining key performance indicators (KPIs) is a key step towards better understanding the costs in managing projects and identifying early warnings of problems. Here are some guidelines for using them, and some simple remedies to common impediments along the way.
In the human race's 30 millennia history, the cost of knowledge workers has risen to be a significant portion of the economy only in the last 50 years or so. The number of knowledge workers is growing fast and, in our lifetime, will encompass the majority of workers globally. Demand for project and portfolio management (PPM) solutions, which often incorporate some project accounting abilities, is growing at 11 percent annually.
So why is there so much interest in project and portfolio management, time tracking and project accounting solutions?
Our hunter/gatherer ancestors implicitly knew the costs of doing business. Materials-oriented businesses like manufacturing and farming have had effective accounting systems for thousands of years. Companies like Wal-Mart, Dell and ADM exemplify how well the problems of materials handling and inventory management are already solved.
Knowledge, process and project management, however, are still relatively nascent fields.
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