Often, project managers complain that it is tough to effectively monitor and control the project. As a result, almost 70% of the projects fail miserably. So, how should managers achieve project success within the specified cost and time? Project monitoring and controlling is a crucial project management phase that allows you to keep an eye on everything related to your project. Furthermore, it helps you rectify any deviation from the plan before it becomes a huge problem. This article at ProjectPractical explains the monitoring and controlling best practices your project tracking dashboard must contain.
Project Tracking Dashboard: Best Practices to Follow
Structure Employee Roles and Responsibilities
“Within your project management team, everyone needs to be assigned a clearly defined role. It is your responsibility to ensure that every team member knows and understands the exact spectrum of their position, what is expected from them, and on what timeline,” explains the author. Strategically assigning the right tasks to the right employees will significantly impact the project’s success.
Project Tracking Dashboard Must Measure Employees’ Performance
There are many quantitative methods to monitor performance. Earned value management (EVM) is an effective method for calculating schedule and cost variances. The technique is highly effective in tracking the cost and labor involved in the project. Depending on your project, choose effective metrics that will offer valuable insights.
Utilize Project Status Reports
Your project tracking dashboard must contain project status reports that efficiently track deliverables, schedules, expenditures, risks, issues, and work performance. Furthermore, it must indicate comprehensible progress and mark project pain points. Use project status reports to maintain transparency and to communicate project progress with the team and the stakeholders.
Determine Variance Deviation Threshold
Experts believe that accurately estimating project variables will make a project successful. However, ending it there may leave the project vulnerable. Therefore, you must proactively set up a variance deviation threshold that triggers a quick and appropriate level of corrective change. In addition, it must forecast the final project constraints and schedule overruns.
To learn more about the project tracking dashboard, click on https://www.projectpractical.com/10-best-practices-for-effective-project-monitoring-and-control/