Performance reviews is a technique employed in project management that is used to gauge, compare, and analyze the performance of work in progress against the baseline of the project. The benefit of conducting performance review is that it can dictate the fate of the project within the organization.
There are many things that are measured, compared and analyzed in performance reviews and these include the actual implementation and completion dates of the project as well as the remaining time for work in progress.
There are different techniques that are used to conduct performance reviews and these include the following:
- Critical chain method: This method compares the amount of buffer remaining from the buffer required to protect the delivery date. It is used to determine the status of the schedule.
- Earn value management: It is used to assess the degree of variation of the scheduled baseline using the schedule variance and schedule performance.
- Trend analysis: This method examines the performance of the project over time. It helps determine if the performance of the project is deteriorating or improving.
- Critical path method: It compares the progress along the critical path to determine the status of the schedule. It has a direct impact on the project’s end date.
This term is defined in the 5th edition of the PMBOK.