Dashboard Metrics refers to a set of measurement standards and rules against which static and dynamic characteristics (e.g. progress, performance, quality, etc.) of an object or entity (a project, job, event, etc.) can be assessed. Metrics quantify the components of an object or entity via a predefined system of measurement units (e.g. ratios, indexes, numbers) to facilitate improvements.
Dashboard metrics expresses the following information:
- What exactly is to measure (e.g. projects)
- What specific units of measurement (e.g. percentages) to use
- How to apply the metrics
- Which data source(s) will be utilized to collect measurements
Metrics determines how data calculation results will be produced and then displayed on a dashboard. They should be observable and include a point of comparison. Through using metrics on a software dashboard it is possible to gain insight into management processes and understand what factors lead to success or failure. In particular, management metrics helps assess the impact of every decision made in the field of management including:
- Planning: cost estimation, budget efficiency, schedule coverage
- Controlling: work performance, activity state, employee productivity
- Qualifying: product quality, ROI, customer satisfaction
- Directing: improvement opportunities, team leadership, employee involvement.