Archinect - News 2024-11-24T04:54:23-05:00 https://archinect.com/news/article/150035267/the-11-project-performance-kpis-you-need-to-track The 11 Project Performance KPIs You Need to Track Sponsor 2017-10-30T09:00:00-04:00 >2024-03-15T01:45:58-04:00 <img src="https://archinect.gumlet.io/uploads/1v/1v1qh1467zcwaywj.png?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><figure><p><a href="http://www.bqe.com/products/core?utm_source=archinect&amp;amp=" rel="nofollow" target="_blank"><img src="https://archinect.gumlet.io/uploads/v7/v7zh1cuc5e9832ym.png?auto=compress%2Cformat&amp;w=514"></a></p></figure><p><em><strong>This post is brought to you by <a href="http://www.bqe.com/core#utm_source=archinect&amp;utm_medium=blog&amp;utm_campaign=oct30" rel="nofollow" target="_blank">BQE Core</a>.</strong></em></p> <p>Your world&mdash;at least during the workday&mdash;likely revolves around projects. Keeping them going smoothly and profitably is a critical goal for any architecture firm. That&rsquo;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&rsquo;re about to discuss make up a potentially daunting list, but when you track them regularly, you&rsquo;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&rsquo;ve done but haven&rsquo;t invoiced yet. It&rsquo;s important to track as an asset on your balance sheet and as revenue on your income statement. It doesn&rsquo;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>