Examining Benchmarking in Project Management
LAST UPDATED ON: 26TH AUGUST, 2019
Benchmarking in project management addresses the evaluation of a group’s business or project practices in comparison to those of other groups. It is used to identify the best practices needed in order to meet or exceed them.
Benchmarking in Project Management can be conducted between identical processes in a variety of ways: In similar or dissimilar industries and internal or external organisational areas.
Organisations can make use of benchmarking when they are creating products and services that are similar to what their competitors have already created. They always make sure that they do not fall below the standard already set by their competitors.
Purpose of Benchmarking in project management is to determine :
- The product and services to offer and the features that should be included.
- The processes used by other groups to achieve customer satisfaction.
- The metrics or goals used to measure the processes or products that achieve customer satisfaction.
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