KPI (Key Performance Index)

In this episode, Ricardo explains the differences between OKRs (Objectives and Key Results) and KPIs (Key Performance Indicators). While both are measurement tools, they serve different purposes. KPIs track ongoing processes, offering real-time insights into performance, such as project progress in terms of time and cost. OKRs, on the other hand, are goal-setting frameworks that push teams toward ambitious targets.

In this podcast, Ricardo discusses the importance of implementing AI projects with metrics, cautioning against the fear of missing out (FOMO) as a driving force. He draws attention to the high expenses of AI, especially those related to hiring qualified personnel and purchasing processing power. To analyze possible time and cost savings, Ricardo suggests using simulations to help businesses properly weigh the costs and advantages.

In this week's episode, Ricardo talks about the Hawthorne effect. Despite the rather unusual name, the effect is associated with changing our behavior whenever someone observes us. He gives examples in our daily lives, such as the compliments our young children receive when they stay at other people's houses or when we watch programs like Big Brother. Ricardo also talks about the Hawthorne effect in projects.

Nowadays, all those leading projects and initiatives only talk about outcomes. In this week episode, Ricardo reflects on the concept that outcomes are everything while outputs are irrelevant. For him, outputs and outcomes are equally important because outputs are the only way to produce outcomes. The problem is the disconnection between the outputs we product and the outcome we want to reach.

This week, Ricardo talks about metrics and discusses why we should review metrics often to make sure they are still valuable. One of the main threats of old metrics is that people get used to the engine behind it, and they know exactly how to work so that they stay on permanent “green” without truly seeing the whole picture.

In this podcast, Ricardo makes a comparison between monitoring of the project and monitoring of a patient in an Intensive Care at the hospital. He explains that the Project Manager should monitor since the beginning, the project vital signs and based on these signals, identify deviations and take preventive actions for the project remains viable.

In this podcast, Ricardo talks about the most common mistakes people make when calculating the percentage of completion of a phase or activity group in the schedule. He explains that when calculating this percentage, we need to consider the total duration of phase or group and the worked hours.

In this podcast, Ricardo Vargas talks about the impact of projects in society and their associated risks. He explains that in addition to the technological and financial aspects, companies must identify the main stakeholders and verify the positive and negative impacts that the project will bring to the involved society.