Underscored by the common adage “If you can’t measure it, you can’t manage it,” the importance of the three Ms (metrics, monitoring and measuring) is greater today than ever. Management by gut feeling may still be as prominent as management by exception or management by objective, but the dynamics and complexities of today’s fast-paced global environment present a special set of circumstances — circumstances that do not always lend themselves to traditional methods.

The art of metrics management that, once mastered, will help zero in on improvement in those areas that are the true indicators of business success while combing out the noise of extraneous data.

In this TechRepublic Premium guide, each section provides specific examples of winning strategies and sample metrics, as well as some examples of not so successful metrics and common traps to avoid.

The download also includes a project scorecard spreadsheet. This contains instructions for use, project metrics and metric categories.

Featured text from the guide:

MONEY METRICS — YOU ARE WHAT YOU EAT

So how does one avoid being in the CEO’s office at the end of the year only to suffer the fate of many tactically successful but strategically misaligned CIOs? The key is in understanding how to use operational data as a tool rather than an end result. Moreover, using the right data, and in sparing amounts, to derive the desired business indicator is the ultimate goal. Too much of a numerical diet can burden the organization, because the metric must be able to change with the business. If a metric is highly dependent on a complex series of other data points (long-term business initiatives like large system development, CRM, ERP and so on), and the data path is broken by significant changes in business (the abandonment of any portion of these initiatives), the metric is no longer valid.

Enhance your knowledge of metrics with our in-depth 15-page PDF and spreadsheet. Previously priced at $49, this is now available for download at just $9. Alternatively, enjoy complimentary access with a Premium annual subscription. Click here to find out more.

TIME SAVED: Crafting this content required 30 hours of dedicated writing, editing and research.