It is the mark of an educated mind to rest satisfied with the degree of precision which the nature of the subject admits and not to seek exactness where only an approximation is possible. —Aristotle (...
It is not too bold a statement to say that a software development project is one of the riskiest investments a business makes. For example, the chance of a large software project being canceled increa...
Whether a finding is statistically significant is not the same thing as whether your current state of uncertainty is less than it was before or what the economic value of that uncertainty reduction wo...
Measure what matters, make better decisions.
One example is how Amazon.com provides free gift wrapping in order to help track which books are purchased as gifts. At one point Amazon was not tracking the number of items sold as gifts; the company...
What they really mean is that numbers can be used to confuse people, especially the gullible ones lacking basic skills with numbers. With this, I completely agree,
We find no sense in talking about something unless we specify how we measure it; a definition by the method of measuring a quantity is the one sure way of avoiding talking nonsense. . . . —Sir Hermann...
The first 100 samples reduce uncertainty much more than the second 100. In fact, even the first 10 samples tell you a lot more than the next 10. The initial state of uncertainty tells you a lot about...
The commonplace notion that presumes measurements are exact quantities ignores the usefulness of simply reducing uncertainty, especially if eliminating uncertainty is not feasible (as is usually the c...
The common characteristic of these measures is that they are the result of many actions. They give a clear picture of whether you are traveling in the right direction. They do not, however, tell you w...
The PIs help teams to align themselves with their organization’s strategy. PIs are nonfinancial and complement the KPIs; they are shown with KPIs on the scorecard for each organization, division, depa...
Success is a function of persistence and doggedness and the willingness to work hard for twenty-two minutes to make sense of something that most people would give up on after thirty seconds. —Malcolm...
Result indicators that lie beneath KRIs could include: Net profit on key product lines Sales made yesterday Customer complaints from key customers Hospital bed utilization in week
Is a programmer who gets 99% of assignments done on time and 95% error free better than one who gets only 92% done on time but with a 99% error-free rate? Is total product quality higher if the defect...
Anything currently estimated using expensive survey methods can be researched in different ways by any Internet-literate college student.
1. Key result indicators (KRIs) tell you how you have done in a perspective or critical success factor. 2. Result indicators (RIs) tell you what you have done. 3. Performance indicators (PIs) tell you...
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