How to Measure Anything in Project Management - Hardcover

by Douglas W. Hubbard (Author), Alexander Budzier (Author), Andreas Bang Leed (Author)

Uncover common project management myths to improve project success

How to Measure Anything in Project Management explains why popular methods for measurement in project management are flawed and describes how to conduct measurements that better inform decisions, reduce project risks, and improve the chance of project success. The authors argue that anything that matters to project management at all is measurable and that these measurements address many of the problems in project management. The authors leverage an exclusive survey on the state-of-the-art of measuring projects, new case studies of things that are seemingly hard to measure and a database, collected by Oxford Global Projects, of thousands of projects in software development, construction, energy, and many other fields, including some of the biggest projects in history. The book is accompanied by a set of useful spreadsheet-based "power tools" that support the more technical aspects of quantifying project risk, forecasting outcomes, and conducting seemingly difficult measurements. In this book, readers will learn:

• Why many of the methods they have been taught to use are little more than a type of "analysis placebo"
• Why many popular methods lead to extreme overconfidence in estimates
• How some of the most important measurements a project could conduct are currently rarely used

How to Measure Anything in Project Management earns a well-deserved spot on the bookshelves of managers, executives, auditors, controllers, and consultants seeking to improve project performance through superior measurement methodology.

Front Jacket

Decades of data show that, despite the development of many new tools and methods, projects still too often fail to meet objectives. Leading a successful project requires more than haphazard and idiosyncratic monitoring and measurement of KPIs and OKRs. You'll need to know what metrics require your attention and how to accurately track them. But many popular project management measuring techniques not only fail to keep project leaders informed, but also contribute to overconfidence in your odds of success.

In How to Measure Anything in Project Management, a team of veteran management experts delivers an incisive and practical new approach to decision making and risk management in project management. The authors convincingly argue for the proposition that everything that matters to project management is measurable, and that these measurements address many of the perennial problems in project management.

The book leverages a broad and robust suite of research and practical examples demonstrating that--among other things--many of the measurement methods currently relied on by project managers amount to little more than a type of "analysis placebo." It also offers a collection of hands-on, spreadsheet-based "power tools" that support the more technical aspects of quantifying project risk, forecasting outcomes, and conducting complex measurements.

How to Measure Anything in Project Management relies on the expansive Oxford Global Projects Database, containing thousands of studied projects conducted in a wide variety of disciplines, to bring you the most important measurements you should be making on every project you lead.

Perfect for executives, managers, entrepreneurs, founders, and other business leaders, this book will also prove invaluable to project managers, auditors, controllers, statisticians, consultants, and other practicing professionals interested in improving their decision making and risk management in the context of project management.

Back Jacket

Praise for HOW TO MEASURE ANYTHING IN PROJECT MANAGEMENT

"Truly successful projects are not those that just meet predetermined metrics or outputs. Project professionals need to pursue the value critical stakeholders believe they've received from their efforts. How to Measure Anything in Project Management reiterates this critical nuance and provides a roadmap for those seeking to fuse data with perceptions. It reshapes how organizations make decisions, deliver end-to-end value, and build lasting resilience."
--PIERRE LE MANH, President and CEO, Project Management Institute (PMI)

"A bold and timely book that redefines how we think about project success. By proving that anything that matters can be measured, the authors equip project professionals with tools to make smarter, evidence-informed decisions. This is a must-read for anyone serious about creating a world in which all projects succeed."
--PROFESSOR ADAM BODDISON OBE, CEO, Association for Project Management (APM)

"As someone who has dedicated a career to advancing project management, I believe this book is one of the most important contributions to the field in recent years. And it comes at the right time, as AI, data science, and systems thinking converge to reshape how decisions are made."
--RICARDO VIANA VARGAS, PMI Fellow and former Chair of the Board, Project Management Institute (PMI)

"To control projects, we need to measure what is important and not only what is easy to measure. This book lives up to its title. It provides practical guidance and useful tools to measure what matters in projects."
--TOMAS CARLSSON, President and CEO, NCC

Author Biography

DOUGLAS W. HUBBARD has 35 years' experience as a management consultant with a focus on the application of quantitative methods in decision making. He is the founder and president of Hubbard Decision Research and the creator of the "Applied Information Economics" method. He is also the author of the original How to Measure Anything: Finding the Value of Intangibles in Business as well as other books in measurement, risk analysis and decision making.

ALEXANDER BUDZIER, PHD, is a Fellow at the University of Oxford's Saïd Business School. He specializes in IT, infrastructure, energy, mega-events and change.

ANDREAS BANG LEED is the Head of Data Science at Oxford Global Projects. He specializes in data-driven project planning and risk analysis for some of the world's most ambitious mega-projects.