What data should you track to measure project success?

1 Project objectives and milestones

One of the first and most important data points that you should track is whether your project is meeting its predefined objectives and milestones. Objectives are the specific and measurable outcomes that you want to achieve with your project, such as increasing sales, reducing costs, or improving customer satisfaction. Milestones are the key deliverables or events that mark the completion of a major phase or task in your project, such as launching a new product, conducting a survey, or submitting a report. Tracking your objectives and milestones helps you to align your activities with your project vision, assess your progress and performance, and identify any risks or issues that may affect your project success.

2 Project budget and costs

Another essential data point that you should track is how much money you are spending and earning with your project. Project budget is the estimated amount of funds that you have allocated for your project, based on your scope, resources, and timeline. Project costs are the actual expenses that you incur during your project execution, such as salaries, materials, equipment, or travel. Tracking your budget and costs helps you to control your financial resources, optimize your spending and return on investment, and avoid any overruns or losses that may jeopardize your project success.

3 Project scope and changes

A third data point that you should track is how well you are managing your project scope and changes. Project scope is the agreed-upon set of features, functions, and deliverables that define the scope of your project. Project changes are any modifications or additions that occur during your project execution, due to changing requirements, expectations, or circumstances. Tracking your scope and changes helps you to ensure that you are delivering what your stakeholders want and need, maintain your project quality and standards, and handle any requests or issues that may arise during your project lifecycle.

4 Project schedule and deadlines

A fourth data point that you should track is how efficiently and effectively you are completing your project tasks and activities. Project schedule is the planned sequence and duration of your project work, based on your scope, resources, and milestones. Project deadlines are the specific dates or timeframes that you have set for delivering your project outputs or outcomes. Tracking your schedule and deadlines helps you to manage your time and resources, prioritize and coordinate your work, and meet your commitments and expectations.

5 Project risks and issues

A fifth data point that you should track is how well you are identifying and mitigating any potential or actual threats or problems that may affect your project success. Project risks are the uncertain events or conditions that may have a negative impact on your project objectives, scope, budget, schedule, or quality. Project issues are the current or emerging situations or challenges that may hinder or delay your project progress or performance. Tracking your risks and issues helps you to anticipate and prevent any adverse effects, resolve or escalate any conflicts or obstacles, and ensure your project continuity and stability.

6 Project feedback and satisfaction

A sixth and final data point that you should track is how satisfied your stakeholders are with your project results and processes. Project feedback is the information and opinions that you collect from your stakeholders, such as customers, sponsors, team members, or suppliers, regarding your project deliverables, activities, or performance. Project satisfaction is the degree of satisfaction that your stakeholders express or demonstrate with your project outcomes, benefits, or value. Tracking your feedback and satisfaction helps you to evaluate your project quality and impact, improve your project coordination skills and practices, and strengthen your stakeholder relationships and trust.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?