The Performance Factor (PF) is a numerical ratio used to measure the actual performance of an individual or team while completing a task. There are various forms of PF associated with cost, schedule and quantities. In this particular write-up and example, we will use hours in association with completing a task. The equation for calculating this PF is:
PF = Earned Hours / Actual Hours
To help remember this formula, try and associate it with the phrase “earned over burned.” In other words, the amount of earned hours divided by the amount of burned (actual) hours spent. The PF is in the form of a numerical decimal value which is often converted into a percentage.
Instead of attempting to systematically define the PF, its components, and all of the factors that can influence it, let’s put it into practice using a real life scenario. Let’s consider the re-occurring daily routine of waking up and brushing your teeth.
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