Visual map · Measure what matters

Measure what matters: 6 figures.

Pick the few numbers that change decisions, track real progress and build dashboards that tell the truth.

In this topic: Project Cost Management: Budget, Baseline and Contingency · Data-Driven Project Management: Measure What Moves the Result · Earned Value in Plain English: Know If a Project Is Really on Track · Dashboards Without Vanity Metrics: What Leaders Should Actually Watch

Nov 12, 2026 · 3 figures

Project Cost Management: Budget, Baseline and Contingency

Rough order of magnitudeIdea stage: is it in the right neighborhood?$90,000 to $140,000

Budget estimateScope defined: approve a budget

Definitive estimateDrawings done, packages quoted: commit the money

$80k$100k$120k$140k

The range tightens as the project becomes clearer. Only the first range comes from the example in the text; the other two show the idea.

Estimate by packageSix packages$58,000

ContingencyCovers three named risks+$6,000

Cost baseline$64,000

Management reserveHer own cash, outside the baseline+$3,000

Cash to have ready$67,000

Illustrative: the storefront renovation. Contingency is inside the baseline; the reserve is outside it.

At week 5 (dashed line): planned work about $26k (black dot on the curve), work done $22k (accent dot), paid $21k and committed $41k.

Illustrative: week five. Behind on work done, and committed cost already above it: two numbers, one signal.

Oct 19, 2026 · 1 figure

Project	Outcome	Progress	Health
A restaurant opening	Covers served in the first month	Percentage of opening checklist items done	Open critical issues, such as permits or equipment
A road maintenance program	Kilometers completed to specification	Milestones met on their planned date	Cost variance against budget
An exploration drilling program	Meters drilled and logged with approved results	Holes completed against plan	Core recovery and lab turnaround time
A startup sprint	Paying customers	Qualified conversations started per week	Share of the week spent on the three chosen projects
A process improvement	Hours saved per week	Steps automated	Exceptions people had to handle by hand

The same three-number pattern gives different numbers for each project.

Oct 19, 2026 · 1 figure

Budget at completion (BAC)The total approved budget for the work.

Planned value (PV)The value of the work you planned to have finished by today.

Earned value (EV)The value of the work you have actually finished by today, measured in budget terms.

Actual cost (AC)What you have actually spent so far.

Four numbers: BAC, PV, EV and AC.

Oct 19, 2026 · 1 figure

Which decision will this number support?If the answer is vague, such as "to keep an eye on things," decline politely.

Who will own it?A number without a named person drifts out of date within weeks.

Where will the data come from?If it needs manual re-entry every week, it will not survive the first busy month.

What will we do when it goes red?If there is no planned response, the number is only a way to feel worse.

What will we stop watching to make room for it?A dashboard is a budget of attention.

Five questions before any number goes on the dashboard.

Next step

Every figure starts from a real situation. Tell me yours.