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Fewer, Simpler Metrics Are Best (And More Than Five Is Probably Too Many)

In a recent interview, Wayne Mackey of Product Development Consulting, Inc. (Boston, MA), shared his views about metrics best practices, including a methodology he has designed to optimize the "metrics that matter to R&D." Mackey finds that the optimal number of metrics should not exceed five. Frequently he sees metrics used to fix problems rather than to provide "early-warning" information that enables a company to address a problem. Metrics are a tool, not an end in themselves, says Mackey. In a contest between accuracy and simplicity, in most cases, simplicity should win. This article is available to registered users of FastTrack. Please note that becoming a registered user of Fast Track is free, and every month we make exclusive, member-only, Fast Track articles available to our registered users. Join Today!

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