Risk Identification Efficiency

Risk Identification Efficiency is the ratio of Number of Risk identified to sum of Number of Risk identified and Number of Risk occurred in a project. It determines the efficiency of identifying risk in a project. It helps in planning for the mitigation and contingency to be carried out in a project.

Risk Identification Efficiency is calculated at overall project level.

How to calculated Risk Identification Efficiency:

Risk Identification Efficiency % = (Total no. of Risks Identified) / (Total no. of Risks Identified + Total no. of Risk occurred) * 100

Total no. of Risks Identified	Total no. of Risk occurred	Risk Identification Efficiency %
9	6	60

 

Risk Identification Efficiency % = 9 / (9 + 6) *100

                                                     = 60 %

 

Rework Effort %

Rework Effort  metric is the ratio of Total Effort for Rework to Total Effort for Project. This metric is used to monitor the percentage effort spend on rework activities is kept as minimum as possible. This metric helps to derive the actual value of rework activities performed for project. It is measured in percentage (%) figure.

Rework Effort is calculated at overall project level. 

How to calculate Rework Effort %:

Total Effort for Rework	Total Effort for Project	Rework Effort %
25 PD	500 PD	5

Rework Effort % = (Total Effort for Rework / Total Effort for Project) * 100

                                 = 25 / 500 *100

                                 = 5 %

How to calculate Schedule Variation ?

Schedule Variation or Schedule Variance metric is the ratio of difference between the Actual End Date and Planned End Date to difference between Planned End Date and Planned Start Date for the project.

                                                                                OR
Schedule variation or Schedule variance is the ratio of difference between Actual No. of Days and Estimated No. of Days to Estimated No. of Days.

This metric helps to reduce the schedule variance or schedule variation by tracking it from start to end of the project. It helps to reduce the overruns. It is calculated either at project or stage level. It is calculated when particular stage in the project is completed. This metric gives the variation in the estimated schedule.

How to calculate Schedule Variation :

Planned Start Date	Planned End Date	Actual Start Date	Actual End Date	Actual No. of Days	Estimated No. of Days	Schedule Variation
07/01/2015	07/31/2015	07/02/2015	08/01/2015	32	31	3.22%

Schedule Variation= (Actual End Date - Planned End Date) / (Planned End Date- Planned Start) *100

                                   = 1 / 31 *100

                                   =3.22 %

                                                                                OR

Schedule Variation= (Actual No. of Days -Estimated No. of Days) / (Estimated No. of Days) * 100

                                    = (32-31) / 31 * 100

                                    =3.22 %

Note: The date format used in 07/01/2015 is MM/DD/YYYY