Schedule Performance refers to the resulting effect of scheduled activities performed by an individual, group or organization within a given period of time and measured against preset standards, such as accuracy, completeness, speed and cost. It is a comparison of initially planned tasks and scheduled events against the amount of work that is really accomplished.
There’s a measurement indicator to estimate performance level of schedules. It’s called Schedule Performance Index. It’s calculated as a ratio between actual value and planned value of some schedule. The index is widely used in project management. It shows a schedule’s efficiency regarding a project.
For example, there’s a project for supplying school furniture. The supplier is obligated to procure school furniture within a preset delivery schedule. This project will be efficient if the supplier fulfils the obligation on schedule. It actually means an appropriate performance level of the schedule releases the supplier from all liabilities under the delivery contract. Such standards as accuracy, completeness, speed and cost serve as additional parameters for measuring schedule performance and project efficiency.