Step 10. Managing engineering company KPI

Key Performance Indicator (KPI) is a quantifiable performance measurement applied to determine success factors and estimate progress towards the achievement of project objectives. Managing engineering company effectively requires good decision-making which is based on good management of information. To increase profitability the company needs to understand and monitor key factors of the processes. These factors have a major impact on the performance of the engineering company. Task performance is determined by a range of factors. The main of them are project costs and budget.

Budget and Costs compliance

Successful practice of project cost management demonstrates that measuring specific costs within the project can lead to significant improvements in quality, productivity, waste, and customer service. It also demonstrates that accountability is an important component in effective project measurement system and that cost measures can play a significant role in managing funds. When managing costs of the project, engineering company should create a set of indicators that covers all project spending.

In our example, we have united all cost measures into several groups like follows:

Each engineering company can elaborate own specific indicators to measure project costs. However, these groups describe costs of the project in general. By using custom field feature CentriQS allows to add each of the group in the company database and calculate total costs of the project. For example, by using fields "Management costs", "Personnel costs", "Indirect costs" in the Projects view of CentriQS software, the project manager can monitor costs per project. The software lets calculate costs per project as well as output total costs value for all projects of the client.

• Step 1. Business software solution for engineering company
• Step 2. Employee resource management of engineering company
• Step 3. Setting engineering company workflow
• Step 4. Customizing engineering company task fields
• Step 5. Planning engineering company tasks
• Step 6. Sharing engineering company tasks
• Step 7. Documenting engineering company tasks
• Step 8. Tracking engineering company tasks
• Step 9. Reporting engineering company tasks
• >> Step 10. Managing engineering company KPI