ABSTRACT

Whether it is a new information technology (IT)-related project or other medical program, each has an impact on value. The cost performance metrics selected for performance indicators are the Cost Variance (CV) Trend, Cost Performance Index (CPI), CPI Trend, and the ratio "percent complete" to "percent spent". The Percent Complete and Percent Spent metrics each provides valuable information, but as a ratio they gauge the amount of budget spent in relation to the amount of work completed. The value range of "spent starts at 0" and, since it tracks actual cost, it theoretically has no limit. It provides a measure of how far along the project is toward completion. If "spent is over 100", this indicates that a cost overrun condition has been realized. A lack of resources or quality of resources can adversely affect schedule, cost, etc. Therefore, resources are a core metric and should be reported monthly.