Gather metrics from different sources (business imperatives, high-priority business capabilities, high-priority initiatives) and insert them into the Metrics Evaluation Matrix Template to see which metrics should be used to prove the value of your project.
Evaluate various value measures that you have identified in previous steps and assess their relevance to the project and importance to the business versus effort to implement them.
Consider the following factors:
- Importance and relevance: Can this metric be used as circumstantial evidence for the project's contribution to business value? To what degree can the project positively impact the metric’s performance? How important is the metric to the business? How much interest do the business stakeholders express in reviewing the metric performance periodically?
- Effort to implement: How difficult would it be to organize performance data gathering, analyzing, and reporting for this metric? How difficult would it be to collect baseline data? If the metric exists, there’s no effort to implement.
Continue by selecting up to a dozen value measures from the upper-left quadrant.