Technical Performance Measurement is a process by which project management can measure the risks inherent in a given project. Technical Performance Measurements provide insight as to the parameters of the specific design elements of the system. Technical Performance Measurement is used by project management to define the measures of performance and acceptable variables during project implementation.
Use of Technical Performance Measurement benchmarks should be limited to factors which negatively effect the primary measures of performance, which are schedule and budget. Project management should not use Technical Performance Measurement to measure typical project goals, but strictly as a preventative measure to ensure that the project is delivered on time, and for the targeted budgetary goals. Studying these technical performance measurements provides the opportunity for management to develop tolerable risk ranges to evaluate the parameters of the project.
Technical Performance Measurement values are implemented at the beginning of a project, as to ensure that projected performance values, within tolerable variance ranges, are met. Throughout the project, the actual performance is tracked and compared by project management to the Technical Performance Measurement that was deemed acceptable at the project’s outset. These constant comparisons mean that corrective or preventative action can be taken early in the project, preventing failure or delays later in the project timeline.