Archinect - News2024-04-27T17:52:12-04:00https://archinect.com/news/article/150035267/the-11-project-performance-kpis-you-need-to-track
The 11 Project Performance KPIs You Need to Track Sponsor2017-10-30T09:00:00-04:00>2024-03-15T01:45:58-04:00
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<p>Your world—at least during the workday—likely revolves around projects. Keeping them going smoothly and profitably is a critical goal for any architecture firm. That’s why you need to monitor them in multiple ways, including through key performance indicators (KPIs). Monitoring them gives you a straightforward, quantifiable way of ensuring that everything is going according to plan.</p>
<p>The 11 KPIs we’re about to discuss make up a potentially daunting list, but when you track them regularly, you’ll have the information you need to make the right decisions for your firm.</p>
<p><strong>1. Work in Progress</strong>: Work in progress represents the billable time and expenses that you’ve done but haven’t invoiced yet. It’s important to track as an asset on your balance sheet and as revenue on your income statement. It doesn’t just show project managers how far along work is, but also acts as a booster if your firm needs a line of credit or loan.</p>
<p><strong>2. Earned Value</strong>: This is a b...</p>