Performance Reporting

A key component of successful projects are open and strong lines of communication. The project communications plan maps out the communications needs of the stakeholders. Reporting on project performance is a vital communications need of project stakeholders to keep them abreast of progress and the resources used in accomplishing the project objectives. When reporting performance be sure to include the kinds of information and level of detail required by the project stakeholders.

Performance Report Template

This template is provided as a guide to help the project leader/manager prepare and report on project performance.

Please send questions and feedback about the use of this template to it-project-management@vt.edu.

Directions For Use

1. Save a copy of the IT Project Performance Report template (Excel).
2. Review the guidance on this page and in each section of the template.
3. Distribute appropriate sections of the template to project stakeholders according to the project communications plan.

Project Status Checklist

As with all procedures in the Virginia Tech project management standard for information technology projects, reporting on project performance should be commensurate with project risk and complexity. For many projects a simple project status checklist may be sufficient for reporting performance to stakeholders. The frequency of reporting this information is decided according to project stakeholders needs.

Example Project Status Checklist

Project Status Report

For more complex projects, of medium to high complexity and risk, a more detailed status report may be appropriate. The frequency of reporting this additional detail is decided according to project stakeholders needs. In addition to the project status checklist, typical information that may be included in more elaborate status reports are:

• Major accomplishments in this reporting period
• Current project milestones achieved and/or pending
• Current key issues analysis
• Current change requests analysis
• Work to be completed during the next reporting period

Project Milestones & Major Accomplishments

Key Issues Analysis

Change Request Analysis - (Highlight new changes since last status report here.)

¹ Change request ID from the integrated change control form.

Project Performance Metrics (For Very High Risk, Complex Projects)

Projects of high risk and complexity should include measures of project performance. The frequency of reporting performance metrics is decided according to project stakeholders needs. In addition to the project status checklist and detailed status report analysis the more common measures of project performance include an analysis of current performance, forecasting expected performance, and analyzing trends as a predictor of future performance. Some advanced techniques to report performance include:

• Earned Value Management
  • An integration of project scope, cost, and schedule measures used to help project stakeholders assess project performance. Variances from approved baselines are calculated and monitored for unacceptable deviations.
• Forecast reporting
  • Making predictions about the future of the project, such as the estimated cost at completion, based on current project performance information.
• Trend analysis
  • Analyzing project performance over time to determine if performance is improving or declining.

   

  Project Performance Metrics (refer to Budget Plan Worksheet)

  	Budget for work planned to be done (Planned Value [PV])2	Budgeted cost of work actually accomplished (Earned Value [EV]) 2	Actual cost for work accomplished (Actual Cost [AC]) 2
  Hardware & associated
  Software & associated
  Personnel
  Advertising & Marketing
  Leasing & Rentals
  Totals

  ² Reported values are either “to date” or for some pre-determined time period.

   

   

  Earned Value Analysis

  	Cost Variance3 (CV) (EV - AC)	Schedule Variance4 (SV) (EV - PV)	Performance Index
  			Cost CPI5 (EV / AC)	Schedule SPI6 (EV / PV)
  Hardware & associated
  Software & associated
  Personnel
  Advertising & Marketing
  Leasing & Rentals

  ³ Measures cost performance where >0 is desirable and indicates the project is under budget.

  ⁴ Measures schedule performance where >0 is desirable and indicates the project is ahead of schedule.

  ⁵ Measures cost efficiency for work completed where >1 is desirable and indicates a cost underrun for work completed.

  ⁶ Measures progress achieved compared to progress planned where >1 is desirable and indicates more work completed than planned.

  ---

  Alternatives for Project Performance Reporting

  For projects that do not follow the typical waterfall model of project management (i.e., sequential development, where progress flows steadily downward), here are some alternative methods to report performance.

  • An Alternative to EVM: The Zone Method
  • Agile or the PMBOK? You Can Have Both!
  • Making Agile Development Work in a Government Contracting Environment — Measuring velocity with Earned Value
    • Reference: The Agile Manifesto
  • Prediction of project outcome: The application of statistical methods to earned value management and earned schedule performance indexes