Some years ago, a company I worked for invested in improving our Project Management practices. They engaged with IBM professional services for 6 months to guide and mentor the in-house Project Managers. The first thing the IBM consultants did was establish a baseline that would be used to measure success at the end of the engagement. This baseline was “The Project Health Scorecard” (aka “PHS”). The PHS was measured at the beginning and end of the engagement as evidence of progress in our project management practices. I am a big fan of this concept and now use it on my project dashboard for all of my projects.
The PHS is an “early warning system” for potential project trouble. In that sense it is a child of Risk Management. Because of its condense and concise nature, it is appropriate for use in Project dashboards as well Project Portfolio dashboards, where you can see the health of all active projects at once. I typically update the PHS weekly in the regular project status meetings.
The PHS contains six key measures of project management best practices. Each measure is given a status value of “green”, “yellow” or “red”. I will present each of these measures along with the guidance for status values in a six part series as follows:
- Part 1: Schedule
- Part 2: Budget
- Part 3: Scope
- Part 4: Value
- Part 5: Resources
- Part 6: Risk