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The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
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Step 10. Managing engineering company KPI  

Step 10. Managing engineering company KPI

How to improve engineering company productivity
in 3 minutes
How to improve engineering company productivity with VIP Task Manager Professional

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:

  • Management costs
  • Personnel costs
  • Indirect costs

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.

Better cost management means better budget allocations and reduced costs per item of the project plan. To measure efficiency of project spending and budget allocation, CenrtiQS offers custom field feature in Configurator to create various kinds of key performance indicators (KPIs). For example, manager of engineering company go to the Projects analytics view in CentriQS to create a pivot table that shows all type of costs per project. The pivot table will help monitor project costs and make decisions regarding project management financing.

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