ITS Executive Management utilizes project metrics derived from Object Task Lists (OTLs) in ITS Pro to monitor major changes and shifts in IT work. These measurements or "Volatility Metrics" are provided through reports in the following ways (V1, V2, V3, V4, V5, V6, V7):
TASK VOLATILITY
V1 | Task estimate versus actual (closed tasks only) | V1 measures how well the teams are hitting the estimates |
V2 | Task estimate yesterday versus today | V2 measures how much all the tasks are changing |
V3 | Task end date estimate versus actual (date of task closure) | V3 measures how well we are estimating task closure dates |
V4 | Task end date estimate yesterday versus today | V4 measures how much the task end date is changing |
V5 | Flow of resource hours estimated for each day per task versus actual flow for each day | V5 measures how smoothly resources spend time on tasks each day |
MILESTONE VOLATILITY
V6 | Milestone date estimate versus actual | V6 measures how well the teams are hitting milestone dates |
V7 | Milestone date estimate yesterday versus today | V7 measures how much the milestone dates are changing |
TIME ENTRY VOLATILITY
V8 | Time entry system date versus time entry date | V8 measures how close to the actual day of work people are entering their time |
Each day, the following statistics are calculated for all active projects
Objects, staff, task count
Total estimated and actual hours
Average task estimate
Total of tasks started or completed (touched), estimate and actual
Totals for completed tasks, estimate and actual
Over/under percent for all tasks, touched and completed
V1, V2, V3, V4, V5, V6, V7, V8 (metric measurements...see above)
Each daily row has today’s values, yesterdays and the difference between values, as well as a z-score for each difference score
All statistics are standardized and represent how many standard deviations away the project is from the portfolio of projects’ mean
Projects are then ranked by this standardized score
Trend analysis
Cumulative and incremental volatility introduced. Is volatility increasing or decreasing?
Total estimate over time. Is the project expanding or shrinking in total size?
Total average hours per day per resource on a project.
Are the resources excessively multi-tasked?
For a given project, total estimated hours per week. Is the project a slow-burning or fast-burning project?
Task estimated hours per day. Is the task a slow-burning or fast-burning task?