Paper Example - The Usefulness of Activity/Task Dashboard in Portfolio/Project Management

The Asian Development Bank (ADB) should adopt an activity/task dashboard, which has profound benefits in ensuring the ADB-targeted projects undergo the project lifecycle effectively and realize the expected outcomes. An activity/task dashboard refers to a system that displays performance indicators for targeted projects (Brahimi & Alghuraibi, 2019). The dashboard can display the project timelines, the progress, the performance, challenges emerging during the project implementation, and areas of urgent attention. This paper justifies the use of the activity/task dashboard for the Asian Development Bank in managing its ambitious projects.

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The proposed activity/task dashboard comprises sections such as deliverable and task metrics; milestones for specific tasks (ongoing, completed, on hold, canceled), and specific persons assigned the responsibilities. Portfolio management has metrics for effectiveness, supervision, follow-up, procurement, disbursement, financial management, and ecosystem. Business development tasks include programming, business opportunity, identification, appraisal, preparation, negotiation, and ecosystem. Looking at all these features, they can be retained or modified depending on project-specific attributes. The dashboard would come in handy as a one-stop summary of the projects/portfolio status, which gives a better view of the big picture for the institution.

The dashboard enables the project manager and the respective accountable individuals to better focus on the set objectives. This is facilitated by the fact that the dashboard keeps and displays a tract of what was set as targets, expected outcomes, and timelines (Brahimi & Alghuraibi, 2019). These metrics can be compared with what has been achieved making it possible to make a follow-up on the set objectives and establish the ability to realize the objectives. From the annual portfolio performance report, the ADB spells clearly the statistics on what has been achieved, and offers a feasible recommendation for improving the performance. These attributes can be effectively and coherently represented in a dashboard for prudent monitoring to ensure they follow the main objectives.

The dashboard can help in picking out the tasks or portfolios that are behind schedule. With such information, the project managers to roll out a strategy to identify the main causes of such delays and then, arrive at feasible remedy strategies (Yigitbasioglu & Velcu, 2012). The approach of keeping track of the tasks/activity is essential in the distribution of resources to areas where such resources are needed. Consequently, the institution would reduce wastage of resources, and enforce investing in activities that are directly related to improved performance, outcomes, and profitability. Efficient usage of resources also brings about increased productivity through input-output analysis.

Besides, the dashboard would also be crucial for ADB in ensuring there is accurate project performance data. Instead of waiting for the end of the project to draft a project, the dashboard can capture the gradual changes in project implementation ensuring that the changes can be traced and authenticated on time, hence improving the accuracy of the project data. Such on-spot reporting of accurate project progress data reduces organizational-based risks, thereby, reducing the cost of risk mitigation. Furthermore, progressive monitoring and reporting of the project performance against the timeline and resources enhance accountability for small changes in the project performance (Yigitbasioglu & Velcu, 2012).

Conclusion

In conclusion, effective project management depends on a well-executed plan, precisely spelled targets, indicators, and expected outcomes. For effective outcomes in any project, it is vital to establish a framework that identifies flaws, tracks progress and helps forecast the trajectory of the project as per the set timelines. An activity/task dashboard plays such a role and would ensure ADB stakeholders are able to access timely data on the most important project metrics.

Reference

Brahimi, S. & Alghuraibi, N. (2019). Performance dashboard for project management. In A. Alfaries et al. Advances in data science, cybersecurity and IT applications. Springer Nature.

Yigitbasioglu, O. & Velcu, O. (2012). A review of dashboards in performance management: Implications for design and research. International Journal of Accounting Information Systems, 13(1); 41- 59. https://doi.org/10.1016/j.accinf.2011.08.002