Certain parallels can be drawn between professional services companies and manufacturing plants when it comes to measuring performance in terms of time and resources. But professional services companies don’t manufacture a physical product or manage an inventory, so it can be a challenge to measure how well the business is really doing. Such companies need to rely on metrics to assess their performance.
This white paper posits five metrics that professional services organizations need to stay on top of in order for their business to succeed. These metrics help measure some of the key aspects involved in providing professional services, so you can establish how much you can bill, whether or not you’re turning a profit, how well you’re sticking to the budget, where within your organization the money is coming from, and who’s working on what.
statistical definitions and terms