kpi partners e-book: the project analytics framework
DESCRIPTION
This e-book discusses the goals and objectives of project-based analytics. There is a saying that if it cannot be measured, it cannot be managed. Traditionally, projects have used schedules and budgets to monitor progress. This only provides part of the answer. It does not address other variables. Just because a project comes in on time and on budget does not mean it is a success. The deliverables may be of poor quality, and there may be dozens of outstanding issues. A much broader view is required to insure a project’s ultimate success. The Project Analytics framework presented in this e-book details the elements of a complete project analytics framework and how Oracle Project Analytics meets the needs of this framework. "The primary goal of a Project Analytics system is to help project stakeholders meet project objectives in an optimized manner while honoring the project constraints." History shows that projects that are carefully managed, large or small, are considered most successful both in the short and the long term. Project Analytics systems help manage projects in almost all cases.TRANSCRIPT
THE PROJECT ANALYTICS FRAMEWORKOracle Business Intelligenceby Sid Goel
INTRODUCTION
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3 © 2012 KPI Partners, Inc.
There is a saying that if it cannot be measured, it cannot be managed. Traditionally, projects have used schedules and budgets to monitor progress. This only provides part of the answer. It does not address other variables. Just because a project comes in on time and on budget does not mean it is a success. The deliverables may be of poor quality, and there may be dozens of outstanding issues. A much broader view is required to insure a project’s ultimate success. The Project Analytics framework presented here details the elements of a complete project analytics framework and how Oracle Project Analytics meets the needs of this framework.
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4 © 2012 KPI Partners, Inc.
KPI Partners is an Oracle Partner who specializes in Oracle Business Intelligence (BI) and Oracle Enterprise Performance Management so-lutions. The award-winning staff at KPI Partners comes directly from the product engineering departments at Oracle, Siebel, and Hyperion. In addition to consulting services, KPI Partners offers training, support, and exclusive pre-packaged analytic solution extensions for Oracle Business Intelligence.
KPI Partners works with both corporate technology departments and corporate business units to develop value-added business intelligence solutions, not just new technology deployments.
About KPI
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Table of ContentsCHAPTER 1Project Definition11 Project Types14 Project Progress16 Project Analytics Framework
CHAPTER 2Metrics19 Schedule20 Scope22 Resource23 Quality24 Cost26 Revenue27 Financial Performance Management
CHAPTER 3Project Reporting Strategy30 Top Down Approach31 Bottom Up Approach33 Both Approaches
5 © 2012 KPI Partners, Inc.
CHAPTER 4Project Analytics Solution34 World Class Project Analytics 36 Oracle Project Analytics41 Out of the Box Metrics 43 Data Integration Options44 Deployment Options
CHAPTER 5Case Study30 Oracle Project Analytics and Earned Value Management from PeopleSoft, Primavera and Legacy Application
CHAPTER 6Summary51 The Project Analytics Framework
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CHAPTER 1
PROJECT DEFINITION
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Many of us at KPI Partners have been involved with Project Management in various industries - including manufacturing, service and construction. In addition, KPI Partners is a project-based business and experiences firsthand many of the same challenges described here.
In our experience, the definition of what constitutes a project varies widely between departments, industries and even among project managers.
A Project Analytics system helps to manage projects by providing key information to all key project stakeholders, at the right time, to make proactive and informed project decisions.
7 © 2012 KPI Partners, Inc.
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8 © 2012 KPI Partners, Inc.
A project is often defined as a finite endeavor, having specific start and completion dates, undertaken to create a unique product or service which add value in terms of additional revenue or reduced cost. All projects have constraints like dates, budgets, resources, etc. All projects also have goals and objectives.
Do you know how many projects are underway at your company? Current economic conditions require resources from different teams to bond together for mission-critical activities. These are projects and tracking performance is a huge priority.
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9 © 2012 KPI Partners, Inc.
The primary goal of a Project Analytics system is to help project stakeholders meet project objectives in an optimized manner while honoring the project constraints.
Project Analytics systems help to manage projects by providing key information about the project to the different key stakeholders including:
• The project team members.
• The beneficiary of the project (i.e., employees or customers).
• The project sponsors or steering committee.
• The project funding source (i.e., internal or external).
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10 © 2012 KPI Partners, Inc.
• The project cost manager (could be internal finance department or customer’s finance department).
• The project revenue manager for customer funded projects.
All stakeholders will have different informational needs that a Project Analytics system needs to satisfy. One primary determinant of stakeholder need is the type of project being analyzed. In KPI Partners’ experience with hundreds of projects across multiple industries, we have identified four main project types. These project types and the industries that they are commonly associated with are described in the next section.
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