Evaluating Project Performance Metrics

Have I mentioned we are data geeks?🤓🤓 Performance uncertainty remains one of the biggest barriers to wider uptake of #energy #efficiency technologies.💡 #Wind-assisted propulsion,💨 air-lubrication systems🫧 and other proven #retrofits can cut fuel use by double-digit percentages.📉 But real-world savings swing with weather, routing and operations. Without clarity on a retrofit’s actual contribution, neither shipowners nor charterers can forecast returns with confidence.🤷🏻♀️ And because we’ve always believed that #data📊 can give us the clearest truth, we set out to address this challenge.👊🏻 Our friends at Eastern Pacific Shipping Pte. Ltd. gave us access to the Pacific Sentinel, on which we installed a high-frequency data acquisition system as three suction #sails⛵️ were retrofitted onboard the MR tanker in March 2025. Calibrated sensors captured #power consumption, vessel speed, engine load, heading and wind conditions every 15 seconds. Over four months as the vessel traded spot around the Americas,🌎 we saw #weather and #performance at a fidelity far beyond the single daily datapoint in a noon report. Building on #ITTC and DNV methodologies, Global Centre for Maritime Decarbonisation (GCMD) and EPS implemented an “on-off’’ testing protocol,🎛️ comparing power consumption with the sails activated and deactivated under otherwise similar environmental and operational conditions to isolate the sails’ true contribution. Under the predominantly near-headwind conditions sampled, the vessel saw an average instantaneous power savings⚡️ of 7.2%, with a 95% confidence interval between 6.2% and 8.2%. Instantaneous savings ranged from +28% to –14%. These rare outliers highlight just how sensitive power savings are to wind speed and direction, and underscore the importance of tracking dynamic operational data.⚠️ Access report here:  https://lnkd.in/g_dRFtJp If we want to scale energy-efficiency retrofits, we must tackle performance uncertainty head-on. Shipowners won’t invest, and charterers won’t commit, if they can’t trust that the #savings will show up in their fuel bills.💵 We therefore developed a power savings polar heat map to predict energy and fuel savings with wind conditions. With 3rd-party verification, this will enable performance-linked financing of the retrofits.💰 This case study is but a first step in building that validation layer. And it ladders🪜 up to what we launched last week: #FEET — the world’s first blended-finance fund designed to support energy-efficiency retrofits through a pay-as-you-save repayment structure. Progress is incremental, and this marks a big step in the right direction.👊🏻 Together, we are stronger; together, we can💪🏻 Shane Balani, Zheng Yang Cheng 钟正扬, Bhushan Taskar, Goh Wan Ni, Pavlos Karagiannidis, Mirtcho Spassov, CFA, Mike Wilson, Rashim Berry, Cyril Ducau

𝗧𝗼𝗱𝗮𝘆, 𝗣𝗠𝗜 𝗿𝗲𝗹𝗲𝗮𝘀𝗲𝘀 𝘁𝗵𝗲 𝗳𝗶𝗿𝘀𝘁 𝗿𝗲𝘀𝘂𝗹𝘁𝘀 𝗳𝗿𝗼𝗺 𝘁𝗵𝗲 𝗹𝗮𝗿𝗴𝗲𝘀𝘁 𝘀𝘁𝘂𝗱𝘆 𝘄𝗲’𝘃𝗲 𝗲𝘃𝗲𝗿 𝗰𝗼𝗻𝗱𝘂𝗰𝘁𝗲𝗱 - 𝗼𝗻 𝗮 𝘁𝗼𝗽𝗶𝗰 𝘁𝗵𝗮𝘁 𝗶𝘀 𝗰𝗿𝗶𝘁𝗶𝗰𝗮𝗹 𝘁𝗼 𝗼𝘂𝗿 𝗽𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻: 𝗣𝗿𝗼𝗷𝗲𝗰𝘁 𝗦𝘂𝗰𝗰𝗲𝘀𝘀. 📚 Read the report: https://lnkd.in/ekRmSj_h With this report, we are introducing a simple and scalable way to measure project success. A successful project is one that 𝗱𝗲𝗹𝗶𝘃𝗲𝗿𝘀 𝘃𝗮𝗹𝘂𝗲 𝘄𝗼𝗿𝘁𝗵 𝘁𝗵𝗲 𝗲𝗳𝗳𝗼𝗿𝘁 𝗮𝗻𝗱 𝗲𝘅𝗽𝗲𝗻𝘀𝗲, as perceived by key stakeholders. This clearly represents a shift for our profession, where beyond execution excellence we also feel accountable for doing anything in our power to improve the impact of our work and the value it generates at large. The implications for project professionals can be summarized in a framework for delivering 𝗠𝗢𝗥𝗘 success: 📚𝗠anage Perceptions For a project to be considered successful, the key stakeholders - customers, executives, or others - must perceive that the project’s outcomes provide sufficient value relative to the perceived investment of resources. 📚𝗢wn Project Success beyond Project Management Success Project professionals need to take any opportunity to move beyond literal mandates and feel accountable for improving outcomes while minimizing waste. 📚𝗥elentlessly Reassess Project Parameters Project professionals need to recognize the reality of inevitable and ongoing change, and continuously, in collaboration with stakeholders, reassess the perception of value and adjust plans. 📚𝗘xpand Perspective All projects have impacts beyond just the scope of the project itself. Even if we do not control all parameters, we must consider the broader picture and how the project fits within the larger business, goals, or objectives of the enterprise, and ultimately, our world. I believe executives will be excited about this work. It highlights the value project professionals can bring to their organizations and clarifies the vital role they play in driving transformation, delivering business results, and positively impacting the world. The shift in mindset will encourage project professionals to consider the perceptions of all stakeholders- not just the c-suite, but also customers and communities. To deliver more successful projects, business leaders must create environments that empower project professionals. They need to involve them in defining - and continuously reassessing and challenging - project value. Leverage their expertise. Invest in their work. And hold them accountable for contributing to maximize the perception of project value at all phases of the project - beyond excellence in execution. 📚 Please read the report, reflect on its findings, and share it broadly. And comment! Project Management Institute #ProjectSuccess #PMI #Leadership #ProjectManagementToday

"Why does our top performer get the worst reviews?" the VP asked me. I was reviewing their annual performance data. "Show me," I said. She pulled up the ratings. Diana: 2.8 out of 5. Below average on "collaboration." Low marks for "team player." "What's her actual performance?" I asked. "Exceeded every target. Landed our biggest client. Trained three new hires." "So why the low scores?" "Her peer reviews are dragging her down." I scanned the comments. "Too direct." "Challenges ideas too much." "Not supportive enough." "Let me talk to Diana," I said. "I used to give honest feedback," Diana told me. "Said our pricing model was broken. Got dinged for 'negativity.'" "What happened with the pricing?" "They finally fixed it six months later. After we lost two major accounts." "What else?" "I questioned why we needed  eleven approvals for a simple contract change. Manager said I wasn't being collaborative." "Are you still giving feedback?" "No. I learned my lesson. Now I smile. Nod. Say everything's great. My reviews are improving." "But nothing's actually improving?" "We're making the same mistakes. Just with better vibes." She chuckled. I went back to the VP. "Your review system doesn't measure performance," I said. "It measures compliance." "That's not true." "When was the last time someone got promoted for challenging bad ideas?" Silence. "When did someone get rewarded for preventing a mistake?" More silence. "You've trained your best people to stay quiet. And your mediocre people to stay nice." A few months later, they redesigned the system. Added a category: "Constructive Challenge." Points for identifying problems early. Rewards for preventing costly mistakes. Diana got promoted. "What changed?" I asked the VP. "We stopped confusing agreement with alignment. Stopped mistaking silence for harmony." "And?" "Turns out our 'difficult' people were our most valuable. They actually cared enough to speak up." Here's the truth about performance reviews: Most companies don't reward performance. They reward performance theater. The person who says the meeting was great beats the person who says it wasted an hour. The person who agrees with bad ideas beats the person who prevents disasters. You think you're measuring contribution. You're measuring conformity. And your best people? They've already figured out the game. They're just deciding whether to play it or find somewhere that values truth over comfort. _____ Like my content? Give me a follow. Want to see more of it? Click the 🔔 on my profile.

If you benchmark projects on €/kWp, you miss the point. The real metric is €/MWh. In practice, I keep running into the same discussions: How do you compare Project A (say, in Eastern Europe) with Project B (say, in Southern Europe), when grid, construction, O&M or financing have totally different cost profiles? Instead of arguing over individual cost items, there’s a simpler way: look at LCOE (€/MWh). What really matters (short & clear): --> €/kWp = construction indicator, but not a success factor. --> LCOE (€/MWh) captures CAPEX, OPEX, performance (PR/degradation), financing & lifetime. --> A “more expensive” project can deliver cheaper power thanks to higher yield, longer lifetime, or better financing. --> Investors and banks already benchmark on €/MWh, not €/kWp. Number flavor (utility scale, all-in incl. EPC, development, financing): -->Typical Utility Scale DE/CEE (2024): ~560–600 €/kWp all-in -->Project A: 580 €/kWp, PR 80%, WACC 6%, 25 years -> ~49-52 €/MWh -->Project B: 640 €/kWp, PR 87%, WACC 5%, 30 years -> ~40-43 €/MWh --> Same installed capacity, different assumptions –> output beats input. Do you still benchmark projects on €/kWp? Or already on €/MWh? And which 3 variables move your LCOE the most: PR, WACC, O&M, degradation? #AndreasBach #LCOE #SolarPV #ProjectFinance #CleanEnergy

Stuck at the bottom of the value pyramid? Here’s how to level up. The Value Pyramid Breakdown: → Level 1: Operational Efficiency (“Are projects on time and on budget?”) → Level 2: Strategic Alignment (“Are we doing the right projects?”) → Level 3: Business Value Creation (“Are we driving measurable business outcomes?”) Follow these steps to level up: 🔼 1. Shift from Task Completion to Business Outcomes ➡️ E.g. Instead of tracking milestones, report how a project reduced customer onboarding time by 30%. 📊 2. Align Projects with Strategic Goals ➡️ E.g. Prioritize a digital transformation project that aligns with the company’s 5-year growth plan. 💡 3. Measure Value, Not Just Effort ➡️ E.g. Showcase how a new CRM implementation increased sales conversions by 20%, not just its launch date. 👏 4. Strengthen Stakeholder Engagement ➡️ E.g. Create a stakeholder map to ensure decision-makers are engaged in critical project phases, reducing scope creep. 🚀 5. Prioritize High-Impact Projects ➡️ E.g. Deprioritize a low-revenue initiative to fast-track a project with a projected 50% ROI. 📅 6. Move from Static Plans to Adaptive Roadmaps ➡️ E.g. Use rolling-wave planning to adjust project scopes based on real-time market feedback. 📈 7. Introduce Value-Based KPIs ➡️ E.g. Replace "projects completed" with "revenue increase per project" as a key success metric. ⚖️ 8. Balance Governance with Agility ➡️ E.g. Simplify approval processes for low-risk projects while maintaining rigorous oversight for complex ones. 🔎 9. Implement Continuous Improvement Cycles ➡️ E.g. Use post-project reviews to identify process gaps, leading to a 15% faster delivery time in the next project. 💡 10. Build Cross-Functional Collaboration ➡️ E.g. Establish joint PMO and Sales task forces to ensure customer needs drive project priorities. What would you add to the list? 💥 Want to climb the pyramid? Join my Value-Driven PMO Playbook masterclass — equip your PMO with frameworks to drive real business value. Registration 🔗 (in the comments below 👇) -- 👍 + ♻️ Like + Repost to help others succeed with PMOs. 🔔 Follow me (Hussain Bandukwala) for more content like this.

What happens to Passive House energy targets after people move in? 🏢 Our recent post‑occupancy evaluation (POE) of two Ontario multi‑unit residential buildings, one EnerPHit retrofit and one new Passive House, compared modelled performance with measured energy use over a full year. While both buildings achieved low energy use intensities, differences emerged at when examining system level performance, particularly ventilation fan energy, cooling demand, and plug loads. Total building energy closely matched predictions in the new build but space conditioning was higher than anticipated, while the retrofit showed larger building-level energy use gaps driven by operational factors. The takeaway? POEs are essential. Commissioning quality, control strategies, and realistic modelling assumptions play a major role in whether high‑performance buildings deliver their intended outcomes in practice. Read the whole story here by lead author Yazan Zamel: https://lnkd.in/eXTweB23 #BEIE_Lab #PassiveHouse #EnerPHit #BuildingPerformance #POE #HighPerformanceBuildings #MURBs

Nature-based carbon markets have experienced a series of major setbacks that have undermined scientific credibility, & these same issues risk spilling into biodiversity markets. In our new paper in Nature Sustainability (led by Tom Swinfield & I), we outline our vision for truly scientifically-credible nature-based credit markets: https://rdcu.be/dP6P6. TLDR: in our view the key is to only sell credits *after they have been proven demonstrably additional using robust statistical techniques* for impact evaluation, so we know each credit represents real, additional gains. This could transform these markets. Imagine how investment might upscale if investors were truly confident that every 'unit' of carbon was on average real. Society has made huge policy commitments to upscale carbon & biodv offsetting. But, carbon credit markets have suffered serious hits to their credibility & nascent biodv markets risk inheriting shortcomings. Impact evaluations have shown that these markets have systematically underdelivered additionality. So: leverage the new generation of techniques for robust impact evaluation (comparing outcomes at project site with statistically-near identical counterfactual) to only sell nature-based credits after they’ve been shown to have delivered additional gains. This requires using trusted primary observations to track the impact of your project & counterfactuals (land cover for carbon), which is also relevant to some, but not all, biodiversity offsetting & biodiversity credit methods. This overcomes a systemic problem in credit markets, which is project proponents proposing own counterfactual, which opens up opportunities for gaming Currently, too much weight is placed on ex-ante forecasts of impact/additionality & these methods for forecasting are replete with perverse incentives We have methods to do this: eg what 4C: Cambridge Centre for Carbon Credits are operationalising – you can track additionality of the nature-based credit in near real time, with a transparent & statistically-derived counterfactual   IMO credit markets are at a crossroads. Either we can keep trying small improvements on flawed assessment processes; or fundamentally reform markets so we can be confident credits they deliver are robust. Whilst science has made big progress on additionality, we still haven’t established accepted methods for leakage, or impermanence. So to maintain scientific credibility, we also need to take the *lower bound estimate whenever there is uncertainty* These reforms could fundamentally change markets, incentivising investors/project devs to find sites most likely to deliver additionality, no leakage & permanence, in hope of beating the counterfactual & generating windfall gains This paper focuses on making credits credible, but there’s not space to talk about making them equitable and just, which we’re actively working on too. Wonderful collab between academics & investors Siddarth Shrikanth Joe W Bull Anil Madhavapeddy

How to read a PVsyst report (even if you're not an engineer) A PVsyst report can decide the future of a 10M project — but only if you know how to read it. You don’t need to be an engineer to understand whether a solar project makes sense. At the end of the day, a PV system has one job: produce reliable energy. Here’s how to quickly validate a PVsyst report like a pro: 1) Energy Yield (kWh/kWp) Is it realistic for the project location? Always benchmark against known regional values. If it looks too good to be true — it probably is. 2) DC/AC Ratio Is it within the typical range (1.1 – 1.25)? Too high → clipping losses. Too low → underutilized inverter capacity. This ratio directly impacts both performance and ROI. 3) Losses Breakdown Where is the biggest loss coming from? (Soiling, temperature, mismatch, wiring, etc.) Compare with benchmarks and question anything unusual. 👉 This is where real optimization happens. 4) Solar Irradiation Data Check monthly radiation values. Do they align with trusted databases (Meteonorm, NASA, Solargis)? Bad input = misleading output. 5) Project Inputs Location, system size, tilt, orientation, components… Small input errors = massive financial impact. Always validate assumptions before trusting results. Bottom line: A PVsyst report is not just a simulation… It’s a financial decision tool. If you can read it properly, you can spot risks, optimize design, and protect millions. If you're in solar development, investment, or EPC — this skill is not optional anymore.

Here are some realistic KPIs that project managers can actually track : 1. Schedule Management 🔹 Average Delay Per Milestone – Instead of just tracking whether a project is on time or not, measure how many days/weeks each milestone is getting delayed. 🔹 Number of Change Requests Affecting the Schedule – Count how many changes impacted the original timeline. If the number is high, the planning phase needs improvement. 🔹 Planned vs. Actual Work Hours – Compare how many hours were planned per task vs. actual hours logged. 2. Cost Management 🔹 Budget Creep Per Phase – Instead of just tracking overall budget variance, break it down per phase to catch overruns early. 🔹 Cost to Complete Remaining Work – Forecast how much more is needed to finish the project, based on real-time spending trends. 🔹 % of Work Completed vs. % of Budget Spent – If 50% of the budget is spent but only 30% of work is completed, there's a financial risk. 3. Quality & Delivery 🔹 Number of Rework Cycles – How many times did a deliverable go back for corrections? High numbers indicate poor initial quality. 🔹 Number of Late Defect Reports – If defects are found late in the project (e.g., during UAT instead of development), it increases risk. 🔹 First Pass Acceptance Rate – Measures how often stakeholders approve deliverables on the first submission. 4. Resource & Team Management 🔹 Average Workload per Team Member – Tracks who is overloaded vs. underloaded to ensure fair distribution. 🔹 Unplanned Leaves Per Month – A rise in unplanned leaves might indicate burnout or dissatisfaction. 🔹 Number of Internal Conflicts Logged – Measures how often team members escalate conflicts affecting productivity. 5. Risk & Issue Management 🔹 % of Risks That Turned into Actual Issues – Helps evaluate how well risks are being identified and mitigated. 🔹 Resolution Time for High-Priority Issues – Tracks how quickly critical issues get fixed. 🔹 Escalation Rate to Senior Management – If too many issues are getting escalated, it means the PM or team lacks decision-making authority. 6. Stakeholder & Client Satisfaction 🔹 Number of Unanswered Client Queries – If clients are waiting too long for responses, it could lead to dissatisfaction. 🔹 Client Revisions Per Deliverable – High revision cycles mean expectations were not aligned from the start. 🔹 Frequency of Executive Status Updates – If stakeholders are always asking for updates, the communication process might be weak. 7. Agile Scrum-Specific KPIs 🔹 Story Points Completed vs. Committed – If a team commits to 50 points per sprint but completes only 30, they are overestimating capacity. 🔹 Sprint Goal Success Rate – Tracks how many sprints successfully met their goal without major spillovers. 🔹 Number of Bugs Found in Production – Helps measure the effectiveness of testing. PS: Forget CPI and SPI - I just check time, budget, and happiness. Simple and effective! 😊

📢 A New Era for Energy Efficiency in Saudi Arabia: SEEC Releases Updated M&V User Guide Exciting news for energy transition experts! The Saudi Energy Efficiency Center (SEEC) has released the second version of its "Energy Saving Measurement & Verification (M&V) User Guide For the Kingdom of Saudi Arabia". This updated guide provides a robust framework for conducting M&V in energy efficiency projects, paving the way for a thriving ESCO sector and scaled-up ESPC implementation. Key takeaways from the report: 1️⃣ Emphasizes alignment with the International Performance Measurement and Verification Protocol (IPMVP), ensuring best practices and global credibility for KSA energy saving reports. 2️⃣ Outlines four detailed M&V options to address a diverse range of project complexities and circumstances. 3️⃣ Highlights the importance of a well-defined M&V plan, including clear measurement boundaries, baseline definitions, adjustment methodologies, data analysis procedures, and uncertainty assessments. 4️⃣ Addresses crucial issues such as metering equipment, data collection, and non-routine adjustments to ensure accurate and transparent saving calculations. 5️⃣ Includes practical examples and illustrations to guide practitioners through the M&V process. Opportunities: 1️⃣ Increased Transparency and Credibility: Standardized M&V practices will boost investor confidence in KSA's energy efficiency market, attracting further investments. 2️⃣ Enhanced ESCO Sector Development: The guide provides a solid foundation for ESCOs to operate, fostering competition and innovation in delivering energy saving solutions. 3️⃣ Scaled-up ESPC Implementation: Robust M&V will facilitate successful implementation of ESPCs, driving energy efficiency retrofits across various sectors. 4️⃣ Improved Project Design and Performance: The guide emphasizes comprehensive project design and performance monitoring, maximizing energy saving potential. Challenges: 1️⃣ Building M&V Capacity: Effective implementation of the guide requires training and development of qualified personnel with expertise in IPMVP and associated methodologies. 2️⃣ Data Management and Analysis: Handling large data sets and applying advanced statistical techniques require investment in appropriate software and expertise. 3️⃣ Adaptation to Specific Project Needs: Tailoring the M&V plan to individual project complexities and characteristics requires careful consideration and expertise. 4️⃣ Enforcing M&V Standards: Ensuring widespread adoption and adherence to the guidelines across the industry requires strong collaboration between SEEC, ESCOs, and project stakeholders. This updated M&V User Guide is a significant step forward for Saudi Arabia's energy transition. It provides a clear path for achieving energy efficiency goals, promoting sustainability, and driving economic growth. #EnergyTransition #EnergyEfficiency #SaudiArabia #M&V #ESPC #ESCO #IPMVP #SEEC #Decarbonization #EnergyTransition