Learn how Evaluating a Program Will Enable Best Value
How does your organisation measure the performance of a program or project and is it based purely on the quantitative time and cost inputs? If you can’t measure performance you can’t improve it.
We have touched on the importance of measuring value and how it relates to organisations and their governance, but what of the benefits at a program or project level? What we are talking about here is empowering your delivery team to add value through their day to day actions and decisions. This first requires an understanding of what “value” actually is. Once that is established, regular monitoring and evaluation will facilitate improvements and support key steps in the project. A good example of this is the key procurement phase of a project when tendering for supplies, goods/ services - value for money is a must and this needs to be understood and agreed. We have undertaken many tender evaluations for local councils and state government projects that follow this value principle, including the Department of Justice – correctional facility projects and Stonnington Council’s Chapel off Chapel redevelopment.
The program/project outcomes evaluation cycle is a crucial element. As highlighted recently in the International Journal of Project Management, “It is essential to define program to project value with the key stakeholders… so that one can monitor and evaluate through program to project.” Without this the direction may easily be steered off course.
To recap, there are many benefits to establishing an organisation’s program evaluation methodology upfront. To develop this effectively it is vital that you agree on
Clear understanding of what success will look like in the form of the outcomes
What data is required and how the data will be collected
Who are the key stakeholders and what reporting is required
Clear risk management strategies, including contingency actions, time and cost allowances,
How the evaluation will be undertaken
So how does your organisation evaluate program outcomes?