Hi Nilesh, 

As Gary pointed out "Project Health" could refer to many things.  How well built is the schedule? How well is the project performing to plan? etc.  I would first identify how your company is hoping to measure health so that you can then identify which checks or metrics to use.  Acumen Fuse includes checks for schedule quality, peformance tracking, earned value etc. to help you measure and report health. 

Many of our customers use the standard metrics or checks within Fuse which are detailed here: http://www.projectacumen.com/resource/metrics/

Over the summer we held a series of webinars where customers from different industries shared how they are using both custom metrics and the standard ones included in Fuse to assess project health.  I would recommend watching the recordings to get some additional insight into how others are doing this. 

Oil & Gas Webinar: http://www.projectacumen.com/resource/fuse-customer-perspectives-webinar-oil-gas-energy/

EPC Webinar: http://www.projectacumen.com/resource/fuse-customer-perspectives-webinar-epc/

Also, if you are using Primavera or MS Project and want a quick way to score project health in terms of "How well built is the plan?" use the free schedule index calculator found right here on the Planning Planet website! 

Free Calculator: http://www.planningplanet.com/groups/499340/acumen

Hope this helps, 

Jenn

Vladimir,

many thanks for sharing this -An excellent presentation on project metrics, which I have filed away for future use.

I look forward to the day when I am in a position to choose my software, and get to give Spider a try.

Until then, I'll struggle on with P6, manual resource levelling, and Pertmaster to generate similar Project success indicators.

Cheers,

G

Nilesh,

That is a very broad subject! –Can you be more specific with your query?

Project Health could cover a lot of areas, for example:

-Financial. –Possible measures include cashflow, EAC vs. budget, CPI/CV, monthly forecast variance, value of variations as %age of budget, etc

-Schedule –Possible measures include Completion date vs. contract, SPI/SV, monthly forecast variance, Float trend analysis, etc

-Risk –Possible measures include P50/P80 risk value (cost), P50/P80 risk value (time), %age mitigation actions completed on time, etc

-Quality –Possible measures include audit scores, defects rate, %age HAZOP actions closed out, RFI response rate, etc

-Environmental, Health & Safety –Possible measures include H&S audit scores, accident frequency rate, #manhours without a lost time injury, near misses per manhour, total lost time through injury, Carbon tracking, #pollution incidents, etc

-Client Satisfaction –Possible measures include Client feedback scores, public complaints, etc

Cheers,

G