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This video is all about Defined Metrics For Each Operational Team information but also try to cover the following subject:
-What are operational performance metrics?
-Defined Matrices
-What are metrics in operations management?
In today's competitive Agile marketplace, every organization is looking for an advantage over the competition. Teams are moving faster than ever before. Projects are becoming more complex. And customers are expecting more deliverables at lower prices. All this adds up for project managers and team leaders who need to find ways to track and improve their performance.
This is where metrics, and especially operational metrics, come into play. Today, we can see metrics in use in every aspect of every business, from software development to marketing and beyond. Businesses must evaluate their successes and examine areas where they need to improve. This is vital for a sustainable company. When a team or company can identify what is working well and what isn’t -and can measure and track those observations- that team or company can then lower expenses, see if they are actually making progress, and compare that progress to their goals.
The Agile framework is praised for its ability to move quickly and without much pre-planning. But what uses is it to move fast if you don’t know where you’re going? Or if you know you’re going in the wrong direction? How do you even know if you’re moving in the right direction? To move quickly, you must move efficiently. This is where operational metrics come into play. These metrics help you to remove any inefficiencies or redundancies and work in the most effective manner possible.
Operational metrics are key performance indicators that allow you to view your team or project’s current status in real-time, or by the hour, day, week, or month. This is critical because these operational metrics give you a closer look at where your people or systems are falling off track and allows you to take action immediately. In this way, you can stop minor issues before they become full-blown problems. Operational metrics help you manage your people and your processes so that you can reach your team’s full potential.
While your choice of key metrics will vary based on your type of business, your goals, and your team, each specific operational metric should answer four questions:
What is the specific item we are measuring?
Who is going to measure it?
What is the time interval we will use between measurements?
How frequently will this information be delivered to management and stakeholders?
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