Here's how you can analyze project performance data effectively as a project manager.

4 Compare Benchmarks

Comparing your project's performance against established benchmarks is critical. These benchmarks could be internal, based on past projects, or external, derived from industry standards. This comparison will help you understand where your project excels or falls short. It can also provide insights into areas where your project could innovate or improve. Remember, benchmarks are not just about meeting minimum standards; they're also about striving for excellence and continuous improvement.

5 Engage Stakeholders

Engagement with stakeholders is an often overlooked aspect of analyzing project performance. Share your findings with team members, sponsors, and clients to get their perspectives. Their feedback can provide context to the data, uncovering issues that numbers alone might not reveal. This collaborative approach not only enhances the analysis but also fosters a culture of transparency and shared responsibility for the project's success.

6 Adjust Strategies

Finally, use your analysis to adjust your project strategies as necessary. If certain areas are underperforming, develop action plans to address these issues. Conversely, if some strategies are working particularly well, consider how they can be applied more broadly within the project or in future initiatives. Continuous improvement should be your guiding principle, using data-driven insights to refine your approach and achieve better outcomes.

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?