Video 3: Measuring success
Hi. This is John from Futureproofs, and in this video we’re going to look at how you can measure success in your team – and what success might look like in the first place!
When you look at Futureproofs, we want to help you quantify what it means for Futureproofs to make things “better” for your team – to find ways of measuring your team’s progress so that the business’s management can see the concrete benefits of this new way of doing things.
It’s often said that, “if you can’t measure something, you can’t manage it.” This is over-stating things, but there’s a truth in it. If you can find a way to put a number to your team’s performance, it is certainly easier to demonstrate improvements to your colleagues, and your boss!
This can seem complicated but it needn’t be difficult. The core task is to find numbers (or metrics) that reflect the important things about your work.
A good metric can be hard to find, but you can look for three attributes.
- First, it should be measurable, which means that you can count in practice.
- Second, it should be comparable, which means that you can compare one product or time period with another.
- Third, it should be actionable, which means that you can make decisions and act based on the result.
Good metrics tend to be ratios, which means that you have two numbers. One example we’re all familiar with is speed, but consider books published per year, for example, or average cost per project. Look for numbers that reflect your core concerns, and make them into an average ratio.
For example, if we say that Futureproofs helps you to publish faster, that means you should see a change in some of these crucial metrics.
Average time from handover to publication reflects speed to market. Even better, you can measure this each month or each quarter (even each year) and then compare each period to the previous one, and see whether you’re improving or not.
Average difference between approved and actual publication date reflects both your efficiency and the quality of your estimates. Using Futureproofs should mean fewer projects with over-runs, and thus reduce this metric.
Average number of emails sent per editor per month reflects the time your team is spending in unproductive communication. Using Futureproofs can greatly reduce this metric, and free your team up to make a difference to their projects.
That’s it for this quick overview of how you can measure your success with Futureproofs. Get in touch if you’d like to get into more detail about metrics and reporting, and check out our other videos to learn more about what Futureproofs can do!