Our dashboard reflects the summary of the project management metrics or controlling tools we apply. In fact, it is equivalent to a project status report as included in section Free Downloads. What are the most important elements we would integrate into such a dashboard?
Overall Project Status
The traffic light model is sufficient.
Scope: Accomplished Results
Here, we list accomplished interim or end results. In case of problems with scope changes, we indicate where significant changes are or might become possible or necessary, but are not yet sent out as change requests or claims. That is our early warning system in terms of scope creep.
Schedule: Status of Milestones
Milestone Trend Analysis (MTA) indicates possible delays on milestone level. MTA is the first part of an early warning system for overall delays. The second part is the analysis of earned value vs. planned value. In sub-section Earned Value Project Management we explain its details.
Budget: Cost Accrued
At any point in time along implementation phase, we should be able to show cost accrued within the current reporting period and cost accumulated since beginning of implementation phase. For that, we need close co-ordination with our organization's accounting system.
Then we can compare actual cost with planned cost. This comparison does not yet show the full picture of our project's cost trend. To get the real cost trend we analyze actual cost vs. earned value. We discuss details in sub-section Earned Value Project Management.
This picture shows the basic layout of a project status report, a template of which is available in sub-section Free Project Management Tools.
Here, we list all events that could cause contract changes or claims, and are not yet listed elsewhere on the project management dashboard.
Status of Risks
One outcome of our ongoing risk management will be a list of risk events that did not happen (and cannot happen for the remainder of this project), but are part of our overall project contingency. Following good accounting practices, these not incurred contingencies have to be resolved, in-line with the accounting principles of our organization.
What change requests did we receive or send out, what is their current status, and what is their impact on the project in terms of scope, schedule, and budget?
What claims did we receive or send out, what is their current status in the claim settlement process, and what is their impact on the project in terms of scope, schedule, and budget?
In case you would like to use practical and useful packages of tools, templates and checklists, here you can get them. They save you a lot of time, are easy to use and easy to change:
All four PM Phases in one Set