What is a KPI? What are KPIs? Key Performance Indicators

The video tutorial explains Key Performance Indicators (KPIs) as essential tools for measuring progress towards business objectives. It covers the types of KPIs, including leading and lagging indicators, and outlines six characteristics of effective KPIs. The tutorial also provides guidelines for creating KPIs, emphasizing the importance of aligning them with strategic goals and ensuring they are SMART (Significant, Measurable, Achievable, Relevant, Trackable, Ethical, Supported, and Time-bound). The use of KPIs in project management and their role in improving performance are also discussed.

What are Key Performance Indicators (KPIs) and why are they important?

How do KPIs help in achieving business objectives?

What are the characteristics that make for good KPIs?

Explain the difference between leading indicators and lagging indicators.

What does it mean for KPIs to be SMART?

What questions should you ask to create good KPIs?

How can project managers use KPIs to improve project performance?