Project Portfolio Management - Monitoring profitability with project KPIs
One of the key steps in project portfolio management is to easily identify which projects are at risk in terms of planning and profitability. At project level the project summary metrics already allow you to identify gaps between the allocated time budget and the actual time recorded by your colleagues. However when monitoring a large portfolio of projects it is vital to be able to track gaps and planning issues across projects. The new GroupCamp cross-project export file for project metrics allows you to do that.
Exporting project metrics in Excel
To get an export of project metrics across all projects, go to the Overview application in a project and click on the export icon.
On the screen below above you have multiple options:
- You can choose the time unit in which you want to export your data. Please note that conversion is based on the conversion rate set in your global settings.
- You can export metrics for the current project.
- You can export metrics for all projects in the account. For that since GroupCamp stores project metrics at the end of every business week and at the beginning of every month, you can choose the date for which you want the export.
The Excel file presents a list of all the projects in your account and with a list of all the metrics for that project.
Project Portfolio Management - Analyzing your excel export with gap analysis
2 key performance indicators(KPIs) project managers want to track are whether their projects are on track in terms of planning and whether the time being spent on tasks is not exceeding your tile estimates. The number of late tasks and milestones provide a quick indication of planning issues. One way of tracking profitability is by adding an additional column in your excel file that calculates a profitability index:
Profitability index = (Total Time Estimate(TTE) - Total Time Spent(TTS)) / Total Time Estimate(TTE)
Once you’ve entered the formula in the cell, drag it for all rows and therefore calculate the profitability index for all your projects.
Project Portfolio Management - Using conditional formatting to highlight risks
You can also use conditional formatting for your profitability index to highlight all results that are profitable (positive values) in green and all failing projects in red. The screenshot below shows the conditional formatting option in Excel for Windows:
Use your project metrics export with profitability index in all your review meetings to track failing projects.
To help you improve your project portfolio management, GroupCamp will soon be introducing budget lines to help you report time on an allocated budget in a project.