The monthly performance reporting and review is done in every business. Employees diligently produce the dashboard and business leaders meet on a scheduled day to discuss the results. As common as it seems, the exercise is a dreaded one in many organizations. For those who don’t appreciate the value of… [More]
Operational transformation is an undertaking that spans across different facets of a business. There are the general goals of automation, cost reduction, and better service. Businesses have no problem in identifying the improvements they desire. However, the level of success hinges on how well they define the improvements. The approach… [More]
In many businesses, performance measurement is not an organization-wide practice. Other than the financial results, little is monitored. When a decision is made to expand results monitoring, there is much trepidation about measurement. This is due to the entrenched practice on using performance measurement to identify and penalize poor performance…. [More]
Data is like oxygen for a business. To make better decisions, businesses need data to eliminate unfavourable options and affirm their choices. Unfortunately, data is abundant but it doesn’t imply quality. In many businesses, data are captured in multiple systems. One system might assign a customer number as a unique… [More]
Performance measurement is about results measurement. The purpose is to monitor the outcome of the work completed and gauge progress. Unfortunately, some associate performance measurement with “being watched.” This negative connotation leads to a self-serving mindset. To get your team to embrace performance measurement, start slow and build the culture… [More]
Collecting data and computing the results provide a ton of useful information. Specifically, logically linked results offer intelligent data that explain the state of business. Here are ten ways to leverage the information. Establish a reference for status quo The tracking provides data on current performance level, reflecting the capabilities… [More]
I attended a meeting where the focus of the discussion was on performance measurement for a financial reporting team. The objective was to determine one service result that the team would be measured on. As there is a schedule for the distribution of the monthly report, timeliness was top-of-mind. At… [More]
Results monitoring serves as a tracking mechanism to reflect performance. Superb results imply that work is being carried out in excellence. Poor results indicate that there are hiccups somewhere along the way. A savvy manager would learn about the excellent execution and seek to replicate success. At the same time,… [More]
Not sure what drives success? Consider the causal link to result. The relationship between action and outcome is crucial to defining what is important to measure.
As the new year kicks into gear, companies are busy with setting goals. At the corporate level, targets relating to revenue, expenses, market share, and other high level goals are set. To support these goals, each team in the company needs to work cohesively. This requires establishing team targets that… [More]
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