Efficiency and Effectiveness - Revision history

Heiddisosk: /* How to know if a project is efficient and effective? */

2021-02-28T16:19:57Z

How to know if a project is efficient and effective?

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	As mentioned above, projects can be monitored by measuring the objectives. Objectives should contain KPI metrics, which should be monitored. KPI stands for key performance indicator and shows performance effectiveness and the efficiency in delivering the outcome.<ref name="kpi"/> KPIs may vary by projects. One way to estimate project efficiency and effectiveness is to make an assessment table, like the one below, or similar. The table uses customer satisfaction to evaluate effectiveness and resources to evaluate efficiency. This tool makes it easier to see if either needs improvement.<ref name="assessmenttool"/>		As mentioned above, projects can be monitored by measuring the objectives. Objectives should contain KPI metrics, which should be monitored. KPI stands for key performance indicator and shows performance effectiveness and the efficiency in delivering the outcome.<ref name="kpi"/> KPIs may vary by projects. One way to estimate project efficiency and effectiveness is to make an assessment table, like the one below, or similar. The table uses customer satisfaction to evaluate effectiveness and resources to evaluate efficiency. This tool makes it easier to see if either needs improvement.<ref name="assessmenttool"/>

	[[File:Assessment.png\|~~frameless~~\|center\|800x401px\|Figure 2: Assessment table<ref name="assessmenttool"/>]]		[[File:Assessment.png\|thumb\|center\|800x401px\|Figure 2: Assessment table<ref name="assessmenttool"/>]]

	===How to increase project efficiency and effectiveness?===		===How to increase project efficiency and effectiveness?===

Heiddisosk at 16:16, 28 February 2021

2021-02-28T16:16:58Z

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			''Developed by Heiðdís Ósk Pétursdóttir''

	==Abstract==		==Abstract==
	Projects, programs and portfolios are driven by or aligned with organizational strategies and each has their own purpose to achieve strategic goals. Relevant programs and projects are selected with portfolio management, the work is prioritized and required resources are provided. Organizational goals are achieved with project management.<ref name="BodOfKnow1"/> One of the keys to success when it comes to the achievement of project objectives is goal setting.<ref name="key"/> When setting a goal, there are two important concepts that one needs to have in mind; '''''efficiency''''' and '''''effectiveness'''''.<ref name="lecturegoal"/>		Projects, programs and portfolios are driven by or aligned with organizational strategies and each has their own purpose to achieve strategic goals. Relevant programs and projects are selected with portfolio management, the work is prioritized and required resources are provided. Organizational goals are achieved with project management.<ref name="BodOfKnow1"/> One of the keys to success when it comes to the achievement of project objectives is goal setting.<ref name="key"/> When setting a goal, there are two important concepts that one needs to have in mind; '''''efficiency''''' and '''''effectiveness'''''.<ref name="lecturegoal"/>

Heiddisosk at 16:09, 28 February 2021

2021-02-28T16:09:52Z

← Older revision		Revision as of 16:09, 28 February 2021
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	In this article, Erik Sundqvista, Fredrik Backlunda, Diana Chronéera discuss what project efficiency and effectiveness is. They talk about the concepts and discuss it theoretically with few interviewers. They talk about many interesting points and finish with empiric results and analysis.		In this article, Erik Sundqvista, Fredrik Backlunda, Diana Chronéera discuss what project efficiency and effectiveness is. They talk about the concepts and discuss it theoretically with few interviewers. They talk about many interesting points and finish with empiric results and analysis.

	'''''Banister-Hazama, D., Moreci, J., & England, K. (2012). Increase project team effectiveness: step-by-step. Paper presented at PMI® Global Congress 2012—North America, Vancouver, British Columbia, Canada. Newtown Square, PA: Project Management Institute.'''''		'''''Banister-Hazama, D., Moreci, J., & England, K. (2012). Increase project team effectiveness: step-by-step. Paper presented at PMI® Global Congress 2012—North America, Vancouver, British Columbia, Canada. Newtown Square, PA: Project Management Institute.'''''<ref name="doingright"/>

	In this article Banister-Hazama, Moreci & England introduce three steps to increase project team effectiveness. The three steps they write about are the identification of organizational responsibilities, project manager's responsibilities and the responsibilities of each team member. They explain that success is often seen as a team effort, but failure is a result of an individual and more successful projects can be produced by creating more effective teams. They assumes the entire organization will be involved in the effort.		In this article Banister-Hazama, Moreci & England introduce three steps to increase project team effectiveness. The three steps they write about are the identification of organizational responsibilities, project manager's responsibilities and the responsibilities of each team member. They explain that success is often seen as a team effort, but failure is a result of an individual and more successful projects can be produced by creating more effective teams. They assumes the entire organization will be involved in the effort.

	'''''Bridges, J. How to Write Effective Project Objectives Every Time. (2019, Dec 4th). Projectmanager.'''''		'''''Bridges, J. How to Write Effective Project Objectives Every Time. (2019, Dec 4th). Projectmanager.'''''<ref name="objective"/>

	This article explains the meaning of projects objectives, why we should care about their effectiveness and how to write effective project objectives. The difference between goals and project objectives is explained, and few types of goals are introduced.		This article explains the meaning of projects objectives, why we should care about their effectiveness and how to write effective project objectives. The difference between goals and project objectives is explained, and few types of goals are introduced.

	'''''Xebrio. (2019, Aug 14th). The Eisenhower Matrix: The Key to Productivity and Time Management. Medium.'''''		'''''Xebrio. (2019, Aug 14th). The Eisenhower Matrix: The Key to Productivity and Time Management. Medium.'''''<ref name="ematrix"/>

	In this article Xebrio dives into the Eisenhower Matrix. The matrix was developed in the 1950s by U.S. president Dwight Eisenhower. The matrix is a decision making tool which Xebrio calls the key to productivity (efficiency and effectiveness) and time management.		In this article Xebrio dives into the Eisenhower Matrix. The matrix was developed in the 1950s by U.S. president Dwight Eisenhower. The matrix is a decision making tool which Xebrio calls the key to productivity (efficiency and effectiveness) and time management.

Heiddisosk: /* Annotated bibliography */

2021-02-28T16:08:18Z

Annotated bibliography

← Older revision		Revision as of 16:08, 28 February 2021
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	Following references may be beneficial for further reading on topic addressed in this article.		Following references may be beneficial for further reading on topic addressed in this article.

	'''''Sundqvista, E, Backlunda, F, Chronéera, D. (2014, Mar 19th). What is project efficiency and effectiveness?'''''		'''''Sundqvista, E, Backlunda, F, Chronéera, D. (2014, Mar 19th). What is project efficiency and effectiveness?'''''<ref name="sciencedirect"/>

	In this article, Erik Sundqvista, Fredrik Backlunda, Diana Chronéera discuss what project efficiency and effectiveness is. They talk about the concepts and discuss it theoretically with few interviewers. They talk about many interesting points and finish with empiric results and analysis.		In this article, Erik Sundqvista, Fredrik Backlunda, Diana Chronéera discuss what project efficiency and effectiveness is. They talk about the concepts and discuss it theoretically with few interviewers. They talk about many interesting points and finish with empiric results and analysis.

Heiddisosk: /* How is it relevant for projects, programs and portfolios? */

2021-02-28T16:06:23Z

How is it relevant for projects, programs and portfolios?

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	When working on or managing a project, it is important to be aware of these two concepts in order for the project to be successful. Projects have five levels of success, one of them being project management success<ref name="5success"/>, which implies the project’s efficiency<ref name="lecturesuccess"/>. The other four levels; process, product, business and strategic success<ref name="5success"/>, will be referred as the project success. The project success implies the project’s effectiveness.<ref name="lecturesuccess"/>		When working on or managing a project, it is important to be aware of these two concepts in order for the project to be successful. Projects have five levels of success, one of them being project management success<ref name="5success"/>, which implies the project’s efficiency<ref name="lecturesuccess"/>. The other four levels; process, product, business and strategic success<ref name="5success"/>, will be referred as the project success. The project success implies the project’s effectiveness.<ref name="lecturesuccess"/>

	There are a lot of things that can affect the effectiveness of a project. First and foremost, the project must be relevant, i.e. its goals and objectives are aligned with the organizational strategy.<ref name="BodOfKnow1"/> Therefore, the project's effectiveness is also in the hands of the portfolio management.		There are a lot of things that can affect the effectiveness of a project. First and foremost, the project must be relevant, i.e. its goals and objectives are aligned with the organizational strategy.<ref name="BodOfKnow1"/> Therefore, the project's effectiveness is also in the hands of the portfolio management.<ref name="sciencedirect"/>

	Research shows that a lot of projects fail due do two reasons; project failures, i.e. not doing the project right, and portfolio failures, i.e. not doing the right project.<ref name="failure"/>		Research shows that a lot of projects fail due do two reasons; project failures, i.e. not doing the project right, and portfolio failures, i.e. not doing the right project.<ref name="failure"/>

Heiddisosk: /* Limitations */

2021-02-28T16:03:21Z

Limitations

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	Though project efficiency and effectiveness is important when aiming for success, the concept among project management is somewhat unclear. The concepts are often used in the field of project management, but rarely defined. The scope of efficiency and effectiveness is wide and the two concepts can be used in a lot of different situations.<ref name="sciencedirect"/> The author of this article found out that there is no step by step recipe for efficiency and effectiveness, but that is the beauty of it too. Every project has its own way to efficiency and effectiveness. In the author's opinion, the most important thing is to be aware of the concepts at the beginning of a project, make sure it's goals are effective and monitor it all the way to the end.		Though project efficiency and effectiveness is important when aiming for success, the concept among project management is somewhat unclear. The concepts are often used in the field of project management, but rarely defined. The scope of efficiency and effectiveness is wide and the two concepts can be used in a lot of different situations.<ref name="sciencedirect"/> The author of this article found out that there is no step by step recipe for efficiency and effectiveness, but that is the beauty of it too. Every project has its own way to efficiency and effectiveness. In the author's opinion, the most important thing is to be aware of the concepts at the beginning of a project, make sure it's goals are effective and monitor it all the way to the end.

	If the project manager or the project team have not been aware of the concepts and the effectiveness level of the project is low, ~~there~~ are ~~chances~~ that the project can not be repaired. As described in subsection ''Project efficiency and effectiveness levels'', if projects lack effectiveness, they are likely to fail. This is another reason why the awareness of the concepts is important.		If the project manager or the project team have not been aware of the concepts and the effectiveness level of the project is low, chances are that the project can not be repaired. As described in subsection ''Project efficiency and effectiveness levels'', if projects lack effectiveness, they are likely to fail. This is another reason why the awareness of the concepts is important.

	==Annotated bibliography==		==Annotated bibliography==

Heiddisosk: /* Annotated bibliography */

2021-02-28T16:01:22Z

Annotated bibliography

← Older revision		Revision as of 16:01, 28 February 2021
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	This article explains the meaning of projects objectives, why we should care about their effectiveness and how to write effective project objectives. The difference between goals and project objectives is explained, and few types of goals are introduced.		This article explains the meaning of projects objectives, why we should care about their effectiveness and how to write effective project objectives. The difference between goals and project objectives is explained, and few types of goals are introduced.

	'''''Xebrio. 2019, Aug 14th. The Eisenhower Matrix: The Key to Productivity and Time Management. Medium.'''''		'''''Xebrio. (2019, Aug 14th). The Eisenhower Matrix: The Key to Productivity and Time Management. Medium.'''''

	In this article Xebrio dives into the Eisenhower Matrix. The matrix was developed in the 1950s by U.S. president Dwight Eisenhower. The matrix is a decision making tool which Xebrio calls the key to productivity (efficiency and effectiveness) and time management.		In this article Xebrio dives into the Eisenhower Matrix. The matrix was developed in the 1950s by U.S. president Dwight Eisenhower. The matrix is a decision making tool which Xebrio calls the key to productivity (efficiency and effectiveness) and time management.

Heiddisosk: /* Annotated bibliography */

2021-02-28T16:01:06Z

Annotated bibliography

← Older revision		Revision as of 16:01, 28 February 2021
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	Following references may be beneficial for further reading on topic addressed in this article.		Following references may be beneficial for further reading on topic addressed in this article.

	'''''Sundqvista, E, Backlunda, F, Chronéera, D. 2014, Mar 19th. What is project efficiency and effectiveness?'''''		'''''Sundqvista, E, Backlunda, F, Chronéera, D. (2014, Mar 19th). What is project efficiency and effectiveness?'''''

	In this article, Erik Sundqvista, Fredrik Backlunda, Diana Chronéera discuss what project efficiency and effectiveness is. They talk about the concepts and discuss it theoretically with few interviewers. They talk about many interesting points and finish with empiric results and analysis.		In this article, Erik Sundqvista, Fredrik Backlunda, Diana Chronéera discuss what project efficiency and effectiveness is. They talk about the concepts and discuss it theoretically with few interviewers. They talk about many interesting points and finish with empiric results and analysis.

Heiddisosk: /* References */

2021-02-28T16:00:52Z

References

← Older revision		Revision as of 16:00, 28 February 2021
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	<ref name="balance">Effectiveness and Efficiency – How to Strike the Right Balance. 2020, Feb 6th. Chriss Dunn Consulting. https://www.chrisdunnconsulting.co.uk/effectiveness-and-efficiency-how-to-strike-the-right-balance/ </ref>		<ref name="balance">Effectiveness and Efficiency – How to Strike the Right Balance. 2020, Feb 6th. Chriss Dunn Consulting. https://www.chrisdunnconsulting.co.uk/effectiveness-and-efficiency-how-to-strike-the-right-balance/ </ref>

	<ref name="ematrix">Xebrio. 2019, Aug 14th. The Eisenhower Matrix: The Key to Productivity and Time Management. Medium. https://medium.com/xebrio/eisenhower-matrix-the-key-to-productivity-and-time-management-f510cbd808e1 </ref>		<ref name="ematrix">Xebrio. (2019, Aug 14th). The Eisenhower Matrix: The Key to Productivity and Time Management. Medium. https://medium.com/xebrio/eisenhower-matrix-the-key-to-productivity-and-time-management-f510cbd808e1 </ref>

	<ref name="lecturegoal">Christian Thuesen. Project Management: Purpose. DTU ProjectLab. (2021). (p. 6) </ref>		<ref name="lecturegoal">Christian Thuesen. Project Management: Purpose. DTU ProjectLab. (2021). (p. 6) </ref>
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	<ref name="sciencedirect">		<ref name="sciencedirect">
	Sundqvista, E, Backlunda, F, Chronéera, D. 2014, Mar 19th. What is project efficiency and effectiveness? ScienceDirect. https://www.sciencedirect.com/science/article/pii/S1877042814021235 </ref>		Sundqvista, E, Backlunda, F, Chronéera, D. (2014, Mar 19th.) What is project efficiency and effectiveness? ScienceDirect. https://www.sciencedirect.com/science/article/pii/S1877042814021235 </ref>

Heiddisosk: /* Annotated bibliography */

2021-02-28T16:00:05Z

Annotated bibliography

← Older revision		Revision as of 16:00, 28 February 2021
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	Following references may be beneficial for further reading on topic addressed in this article.		Following references may be beneficial for further reading on topic addressed in this article.

			'''''Sundqvista, E, Backlunda, F, Chronéera, D. 2014, Mar 19th. What is project efficiency and effectiveness?'''''

			In this article, Erik Sundqvista, Fredrik Backlunda, Diana Chronéera discuss what project efficiency and effectiveness is. They talk about the concepts and discuss it theoretically with few interviewers. They talk about many interesting points and finish with empiric results and analysis.

	'''''Banister-Hazama, D., Moreci, J., & England, K. (2012). Increase project team effectiveness: step-by-step. Paper presented at PMI® Global Congress 2012—North America, Vancouver, British Columbia, Canada. Newtown Square, PA: Project Management Institute.'''''		'''''Banister-Hazama, D., Moreci, J., & England, K. (2012). Increase project team effectiveness: step-by-step. Paper presented at PMI® Global Congress 2012—North America, Vancouver, British Columbia, Canada. Newtown Square, PA: Project Management Institute.'''''
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	'''''Xebrio. 2019, Aug 14th. The Eisenhower Matrix: The Key to Productivity and Time Management. Medium.'''''		'''''Xebrio. 2019, Aug 14th. The Eisenhower Matrix: The Key to Productivity and Time Management. Medium.'''''

	In this article Xebrio dives into the Eisenhower Matrix. The matrix was developed in the 1950s by U.S. president Dwight Eisenhower. The matrix is a decision making tool which Xebrio calls the key to productivity (efficiency and effectiveness) and time management.		In this article Xebrio dives into the Eisenhower Matrix. The matrix was developed in the 1950s by U.S. president Dwight Eisenhower. The matrix is a decision making tool which Xebrio calls the key to productivity (efficiency and effectiveness) and time management.

	~~NOT COMPLETED~~

	~~KPI - https://www.projectmanager.com/training/8-essential-kpi-metrics-teams~~

	==References==		==References==