Towards a multi-dimensional project Performance Measurement System

This paper discusses the difficulty of controlling a complex project caused by the great number of performance indicators. The problem studied is how to allow project managers to better control the performance of their projects. From a literature review we noted several critical aspects to this problem: there are many dimensions for evaluating project performance (cost, time, quality, risk, etc.); performance factors should be able to be relevantly aggregated for controlling the project, but no formalized tool exists to do this. We suggest a method to facilitate project performance analysis via a multi-criteria approach. The method focuses on three particular axes for the analysis of project performance: project task, performance indicator categories, and a breakdown of the performance triptych (Effectiveness. Efficiency, Relevance). Finally, the MACBETH method is used to aggregate performance expressions. An application case study examining a real project management situation is included to illustrate the implementation. (c) 2009 Elsevier B.V. All rights reserved.