Part 2: Measuring Success – Understanding the Project’s Key Variables

December 1, 2022

You’ve put time and effort into selecting the right IT project—naturally, you want it to be successful.

But what does “success” really mean?

Without a clear definition, knowing when and if your project is truly successful is impossible. Clear, measurable targets, also known as Key Performance Indicators, or KPIs, are critical because they provide data that helps you track your progress.

Good KPIs help evaluate the success of a particular activity and even help you monitor the overall health of your organization. But although most people agree that KPIs are important, one study found that only 26% of executives say their KPIs are well aligned with their organization’s strategic objectives.

Focusing on the wrong KPIs can waste time and money and distract you from what matters. The next step in ensuring that your IT initiative succeeds is selecting KPIs that support your project’s success and align with your organization’s strategic goals.

As you consider how to approach measuring success, it’s critical to understand the project’s key variables:

Timing: How long do you expect the initiative to take from the planning stage through implementation and adoption? What is the deadline for deployment?
Resources: What specific resources will you need for the initiative and in what quantities? For example, how many employees will you need to work on the initiative? Do you need to engage subject matter experts who can help accelerate your project?
Money: How much do you expect the initiative to cost? Where do you plan to find the money for your initiative?
Company Sentiment: Will employees be excited about the project? Who in the company is most excited about the initiative, and how much support can they offer you?
Buy-In: Is there buy-in from all levels of the business?

Your KPIs will be crucial in marketing the initiative within the organization and securing buy-in. Data that proves the initiative was successful can and should be used to drive further innovation. Once everyone has a shared understanding of the relevant KPIs and variables, you can begin to plan your approach and take stock of the resources needed for the initiative.

As part of our services, Wiss’ Technology Advisory Group helps clients select and implement the KPIs that best meet their needs. Contact us today to discuss how we can help put you on track to success.