How To Create Performance Reports For Projects
Performance Reports for Projects are documents that report the progress made in project activities against the specified baselines.
project performance is expected to ensure that the project manager is monitoring the project progress, comparing achievements with the plan, reviewing plans, initiating corrective action, and authorizing further work.
Types of Performance Reports…
There are various types of performance reports that are submitted at different phases of a project. let us look at five of them…
#1 End phase
This is submitted by the Project Manager to the PMO or senior managers to sign off the stage, having met it’s required success criteria, and approve the transition to the next stage.
#2 Highlight
It is submitted by the project manager to the PMO or senior managers at regular intervals as the project progresses . This reports the progress of the stage and project. It also identifies exceptions and issues.
#3 Exceptions
It is submitted by the project manager to the PMO or senior managers when early warnings of any forecast deviations beyond the tolerance levels are identified in the project. Tolerance levels are usually ten percent on time and percent on cost.
#4 End Project
It is created and submitted by the project manager to the PMO or the senior manager for the project to be signed off as completed and to consider the neccesary follow-up actions.
#5 Post implementation review
It is controlled by members external to the project. They are notified whether the expected project benefit have been realised . This review is carried out as soon as the benefits and issues are identified and measured after the project’s collection.
Components of a performance report…
Performance reports mainly serve the purpose of making the actual versus baseline information with forecasted results available in a consolidated manner. It may be or detailed . A simple report may contain information on the project scope, time, cost, and quality , whereas the detailed report may also contain components such as: inferences of the past analysis, current risk status, work completed , work to be completed, summary of approved changes, variance analysis results and forecasted results.
Examples include: Schedule Variance (SV), Cost Variance(CV), Schedule Performance Index (SPI), Cost Performance Index (CPI), Estimate At Completion (EAC), and Estimate To Complete (ETC).
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