A path breaking research in the area of Metrics used in IT industry Paper

A path breaking in the area of Metrics used in IT industry and its effectiveness- Developing new metrics for measuring - Research Paper Example Scope becomes sufficiently measured through observation of the changes required during the implementation process. This paper explores the various metrics utilized in assessment of the efficacy in implementation of these unique IT projects. TABLE OF CONTENTS ABSTRACT 2 TABLE OF CONTENTS 3 INTRODUCTION 4 METHODOLOGY 4 Planning 5 Controlling 6 DATA COLLECTION AND ANALYSIS 6 FINDINGS 9 Project metrics 10 Metrics in IT projects 11 Cost 11 Time 13 Scope 15 CONCLUSION 16 REFERENCES 18 INTRODUCTION The information technology industry represents a unique characteristic for development projects aimed at providing improved technologies, both in software and hardware sectors. The planning process for the projects remains an essential component for minimizing project failure ultimately assuring success. Poor management of IT projects remains the highest cause of project failures within the industry. It is estimated that this accounts for 54% failure with technical challenges causing 3% (Gulla, 2012). Proper management begins with development of proper plans during the initial project stages. The evaluation process seeks to make an assessment of the project progress during implementation. ... The process will be broken down into different stages which shall follow each other. The waterfall methodology being utilized shall be as indicated in the chart below. Measurement of the various metrics involved in the project will be undertaken following completion of each stage and relevant actions taken, based on the results of performance indexes. Figure 1the waterfall methodology Planning The project planning aspect involves the development of a plan providing guideline towards undertaking a desired development project. This marks the beginning stage of any project being implemented. The element of undertaking sufficient planning remains fundamental in assuring success, or causing ultimate project failure. The planning process involves provision of various aspects of the project, commonly through estimations. These estimations provide guidelines during implementation; hence their accuracy remains essential in assuring success. The provided estimates must remain reflective of act ual figures, with minimal discrepancies. During the project evaluation process, the actual figures become measured against the provided project estimates, established during the planning stages. Poor planning remains the fundamental cause for most project failures. While the planning phase remains fundamental in ensuring success, the numerous aspects involved within the planning phase contribute towards successful implementation. Individuals involved in the planning phase of any projects should ensure that the plans suffice the project requirements. This serves in eliminating and minimizing continuous changes during the project implementation phase. The planning phase should provide a