Key performance indicators (KPIs) are quantitative parameters, i.e., numbers filtering out the key information from a flood of data. For example, you can use KPIs to assess and evaluate the current status and development of a project or an entire company.
As the name implies, these indicators are the critical (key) indicators of progress toward a specific objective. Key performance indicators are used as an analytical basis for decision-making.
A distinction is made between absolute and relative key performance indicators. KPIs can be quantitative or qualitative. Qualitative KPIs (e.g., customer satisfaction) do not use numbers.
KPIs used in project and portfolio management are, for example:
Learn how to calculate the CPI and SPI in our article: Earned Value Explained.
The following figure displays real-time key performance indicators in project management software:
How efficiently are you using your time and resources? Learn how to properly use the concept of Earned Value in project management: Explanation and calculation of important project controlling key figures to compare the project plan and actual status.
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