Project Management Concepts: Defining Performance Reporting
What is performance reporting? It’s an important activity in project communication management. It involves collecting and disseminating project information, communicating project progress, utilization of resources, and forecasting future progress and status to various stakeholders, as decided in the communication management plan.
During the process of performance reporting, the work results of other processes are also analyzed and combined into performance reports. They are typically done in tabular or graphical formats that may be text-based, visual-based (such as charts, graphs, or tables) or most often a combination of both.
Overall, the elaborate reports may include:
- Analysis of past performance.
- Summary of changes approved in the reporting period.
- Current status of risks and issues.
- Results of variance analysis.
- Work completed during the reporting period.
- Work to be completed during the next reporting period.
- Forecasted project completion.
- Other relevant information to be reviewed and asked by stakeholders.
[Preparing for PMP® Certification? Take this test to learn where you stand!]
Performance Report Types
Fundamentally, performance reports are comparisons of project performance to the project performance baseline, and can include:
This gives the current state of a project at any given time. This kind of report describes where the project stands at that moment with regards to the performance measurement baseline. Using this, managers can also get the current snapshot of project with respect to the scope, time, cost, and quality parameters.
This type report describes what has been accomplished since the last time/last report.
This report states what is expected to happen on a project, predicting future performance and expected status of the project in various parameters. This helps in tracking and allocation of resources for better utilization.
This report shows a comparison between the current performance of the project and the last performance of the project during same time duration. For example, performance could be compared monthly, quarterly, semi-annually, or annually. This type report examines project performance over time to see if it is improving or degrading.
This report shows a comparison between the planned progress and actual progress made.
Earned Value report
This report integrates project performance on scope, schedule, and cost measures using earned value management techniques. The components of this report are often merged into status reports.
What Goes into Performance Reporting?
Project Management Plan
The Project Management Plan provides information on project baselines. The project deviations, which are reported in performance reports, are compared against the project performance baseline. The performance measurement baseline typically integrates the scope, schedule, and cost parameters of the project, but may also include technical and quality parameters.
Work Performance Information (WPI) –
This is the information that is obtained from project activities, which is then collected on performance results such as –
- Deliverables status
- Schedule progress
- Cost incurred
Work Performance Measurement
Work Performance Information is used to generate project activity metrics to evaluate actual progress compared to planned progress in Project Management. These metrics include –
- Planned versus actual schedule performance
- Planned versus actual cost performance
- Planned versus actual technical performance
Budget Performance Reports
Budget Forecasts provide information about the funds that are required to complete the remaining project work, as well as total fund estimates for the completion of project work.
Organizational Process Assets
The Organizational Process Assets that is used during the reporting of project performance includes, but is not limited to –
- Report Templates
- Policies and procedures that defines the measurement indicators to be used
- Organizationally defined variance limits
If you are working toward your PMP exam, Simplilearn offers a variety of project management courses that will help you pass, including the PMP Certification Training Course. Our PMP training courses are conducted by certified, highly experienced professionals with at least 10 years of experience in multiple project management training courses and learning paths.
Courses are designed to help aspiring project managers get the education they need—not only to pass certification exams like the PMP®, but also real-world knowledge useful for any project management career.
Interested in learning more? View the video “Introduction to PMP Certification Training” below.
Find our PMP® Certification Online Classroom training classes in top cities:
|PMP® Certification||30 Mar -27 Apr 2019, Weekend batch||Your City||View Details|
|PMP® Certification||5 Apr -3 May 2019, Weekdays batch||New York City||View Details|
|PMP® Certification||7 Apr -22 Apr 2019, Weekdays batch||Austin||View Details|
Recommended articles for you
PMP Certification: Reporting Tips to Avoid Application Rejec...Article
Understanding Financial Reporting and its StandardsArticle
The Basic Principles of Project ManagementArticle