Tracking Cost Performance Metrics - EOS Traction Framework
| Cost Metric | Target | Current | Previous | Trend | Owner | Status |
|---|---|---|---|---|---|---|
|
Estimate Accuracy
% variance between estimated and actual costs
|
≥ 95% | 94.2% | 93.0% |
+1.2%
|
Sarah Chen
|
Slightly Below |
|
Cost Variance
Deviation from budgeted costs
|
≤ 3% | 2.8% | 3.3% |
-0.5%
|
Raj Patel
|
On Target |
|
Change Order Processing
Avg. days to process change orders
|
≤ 5 days | 6.2 days | 7.5 days |
-1.3 days
|
Mike Johnson
|
Improving |
|
Value Engineering Savings
Savings identified through value engineering
|
$1M/quarter | $1.2M | $0.9M |
+$0.3M
|
Elena Rodriguez
|
Exceeding |
|
Cost Reporting Timeliness
% reports delivered on schedule
|
100% | 98.7% | 97.2% |
+1.5%
|
David Kim
|
On Track |
|
Risk Contingency Utilization
% of contingency budget used
|
≤ 70% | 82.5% | 75.3% |
+7.2%
|
Amanda Smith
|
Attention Needed |
The Value Engineering team exceeded targets by 20%, identifying $1.2M in savings through material substitutions and process optimizations.
Estimate accuracy is at 94.2% (target 95%). Recent commodity price fluctuations have increased variance in material cost estimates.
Risk contingency utilization at 82.5% exceeds the 70% target. Unforeseen site conditions on Project Orion have consumed additional funds.
Conduct detailed analysis of contingency usage and develop recovery plan
Implement real-time commodity price tracking for more accurate material cost estimates
Document and share successful cost-saving strategies across all projects
Implement new software to reduce processing time to target 5 days
Overall department performance remains strong with 4 out of 6 KPIs meeting or exceeding targets. Focus areas include improving estimate accuracy and managing contingency utilization.