Preview

Critical Success Factor

Good Essays
Open Document
Open Document
1368 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Critical Success Factor
CASE STUDY: critical success factors and performance indicators for a services company Financial
Success Factor Improved cash flow Suggested PI %of those paying cash up front %of new projects where payment up front received Timing of billing on milestones e.g. if 5 days late result would be + 5 days etc. %of customer balance to fees No. of projects with all progress payments paid Costs of lost bids vs. costs of won bids %of successful bids %of successful bids a project group gets Number of customers who increase consulting by xx% per quarter Sales by manager

Costs Measure success of bids

Managing the risk of customer’s Number of regular risk management reviews prepared on time project as a whole Bad debt % to turnover Evaluate political risk of Number of overseas clients/jobs where risk review was not overseas clients/jobs undertaken Tracking of loss leaders Number of winning contracts which have created losses Maximum % of overall revenue Actual time spent as % of budget $ spent as a % of budget Improved profitability Profitability of service area vs. profitability of jobs Total hours non billable pre contract Evaluation performed on prospective clients Budgeted time against actual time on weekly basis %of profitability per project %chargeable work/non recoverable Collection ratio against progress payments %complete to % billed by job Value of work in progress $ No. of days spent as stock in hand (uncharged) % of projects passed post project budget audit No./% of projects completed on time/budget Strategic mix of business Minimum cash flow requirement Acceptable levels of risk &tracking Recovery of chargeable hours % of hours charged / % of recovery Time sheets / invoiced / received cash Better benchmarking Measure, report & publish No./% of projects with industry benchmark action plans

Customer Satisfaction
Success Factor Suggested PI Improved customer relationships %of communications not returned Negative responses from site meetings Number of

You May Also Find These Documents Helpful

  • Powerful Essays

    identify success criteria, i.e. meeting the client brief, component quality, composition and the extent to…

    • 9150 Words
    • 60 Pages
    Powerful Essays
  • Powerful Essays

    Back Yard Deck Project

    • 8397 Words
    • 34 Pages

    Project Management Institute. (2008). A guide to the project management body of knowledge (PMBOK guide) (4th ed.). Newtown Square, PA: Project Management Institute, Inc.…

    • 8397 Words
    • 34 Pages
    Powerful Essays
  • Satisfactory Essays

    Nt1310 Unit 4

    • 555 Words
    • 3 Pages

    a. What is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for the project?…

    • 555 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    There are numerous cases where projects are implemented as planned, on budget, on time and accomplish the intended performance objectives, but turn out to be fully failures since they were unsuccessful to produce defined benefits to the client. Based on the complexity level of the project, the plan to meet the client’s expectations could vary from doing a general conversation with the project controller team to developing an official plan that is traced throughout the life of the project. He believed that the successful strategic management of projects is based on satisfying client needs. Client satisfaction not only in vital for project success but also leads to client retention, additional businesses, more gross margins and better long-term…

    • 891 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Condo Characteristics

    • 603 Words
    • 3 Pages

    The project’s profitability is illustrated in the high return on equity. Through sales, the developer is expected to be able to quickly repay invested…

    • 603 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    The task is assigned to show how health and social care sectors work. In this paper, I showed different stakeholders see the definition of quality from their perspective. External agencies can play vital role in improving the overall condition of health and social care. The poor service quality can negatively affect the stakeholders. I explained the general standards of health and social care. Some standards named ISO, AS 9000, BS 5400 etc should be followed to maintain good quality of services. There are some approaches to implement quality system such as spotting indentifying critical accomplishment components, classifying key factors, taking feedback etc. To achieve best quality there are some limitations like shortage…

    • 2692 Words
    • 11 Pages
    Powerful Essays
  • Satisfactory Essays

    5 Basic Field Measures

    • 619 Words
    • 3 Pages

    Customer Success: Customer Success is critical to the long-term success of the corporation. It is important that each Field professional take personal responsibility for ensuring the success of our customers. Customer success means much more than customer satisfaction; the later traditionally implies that the customer is satisfied that the product or service meets with vendor specifications and customer expectations irrespective of what value that product or service gave to the customer. Customer success means that the products and services that the firm have supplied have significantly helped that customer to implement the changes they wanted and needed and that they know the value provided has helped them be successful, within the customer's view of success. This does not mean that we did their job for them; this means that we have provided maximum leverage with our products and services, and have successfully transferred the needed technologies to the customer, allowing them to meet their goals without over committing our…

    • 619 Words
    • 3 Pages
    Satisfactory Essays
  • Satisfactory Essays

    * What is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for the project?…

    • 410 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    TCM 701 – Project Management HW #1 1 | Year0 | Year1 | Year2 | Year3 | Year4 | Year5 | Year6 | | $(60,000.00) | | | | | | | Required | 20% | | | | | | | cash flows | | $3,000 | $15,000 | $25,000 | $30,000 | $20,000 | $15,000 | NPV | $(5,087.13) | | | | | | | NPV=$(-60+3/1.2+15/1.2^2+25/1.2^3+30/1.2^4+20/1.2^5+15/1.2^ 6)*1,000=-$5,087.13 2a Criteria | Strong Support | Supports Business Strategy | Profit Potential | 10% of Sales from New Products | Competition | Ability to Manufacture | Weighted Total | Project 1 | 6.0 |…

    • 322 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Cost Variance

    • 660 Words
    • 3 Pages

    Actual Cost plus the result of dividing the difference between the Total Project Budget and Earned Value by the product of Cost Performance Index and Schedule Performance Index (AC + ((TPB –…

    • 660 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Chunnel Project

    • 9442 Words
    • 38 Pages

    This case study was originally prepared as part of Project Management Applications, the capstone course of the Master of Science in Project Management in the Department of Management Science at The George Washington University, by the graduating students listed above with the supervision of Professor Anbari.…

    • 9442 Words
    • 38 Pages
    Powerful Essays
  • Powerful Essays

    PFF Outcome2

    • 780 Words
    • 5 Pages

    I have been advised that any projects chosen should have an accounting rate of return at least 15% and company’s cost of capital is 10%. The cost of investment should be recovered within four years.…

    • 780 Words
    • 5 Pages
    Powerful Essays
  • Better Essays

    1. An analysis and evaluation of an organisation‟s budgetary control system and its links with performance management and decision making. 2. An evaluation of how the introduction of a new technology can assist an organisation in achieving its business objectives. 3. An assessment of the potential impact of an aspect of impending legislation on the operations and financial position of an organisation. 4. A review of the business management and accounting issues of environmental costs of an organisation. 5. An evaluation of the use of short term and long term Islamic financial instruments and their impact on the financial statements of an organisation. 6. A critical review of key factors or indicators in the motivation of employees in an organisation. 7. A critical evaluation of the restructuring of an organisation‟s operational activities and the effect on the organisation‟s financial performance. 8. An analysis and evaluation of the business and financial performance of an organisation over a three year period. 9. A critical evaluation of the planning and implementation of an information system in an organisation. 10. A review of the effectiveness of the use of costing techniques within an organisation. 11. An investigation into the financial and operational costs and benefits of the internal audit / internal review activities within an organisation. 12. An investigation into the possible effects of a proposed accounting standard on the financial statements and business activities of an organisation. 13. An evaluation of the contribution made by human resource activities to the attainment of business and financial objectives. 14. An appraisal of the business and financial objectives of a…

    • 799 Words
    • 4 Pages
    Better Essays
  • Good Essays

    miss

    • 867 Words
    • 4 Pages

    This project belongs in the engineering-efficiency category; therefore, it has to fit at least 3 of 4 performance hurdles, which are 1. Impact on EPS; 2.Payback; 3.Discounted cash flow and 4. Internal rate of return.…

    • 867 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    This submission identifies the various challenges portrayed in the case study. It presents an evaluation of these challenges and seeks to identify the causes which led to the challenges. Multi Projects Incorporated is a company that provides a consulting service; it relies on the acceptance of project proposals in order to generate revenue. In the case study, Multi Projects Incorporated has two projects which have been awarded to the organisation. These are at different stages in the project lifecycle. The Goodold project is presently in the Implementation Phase, while the Growin Corporation project has just been awarded to Multi Projects Incorporated and can be said to be at the Initiation Phase.…

    • 3939 Words
    • 11 Pages
    Powerful Essays