Performance Monitoring & Improvement

WHY

slide9“What Gets Measured, Gets Managed.”

– Peter Drucker, Father of Management. –

 

Peter Drucker, the Father of Management concluded that we only can manage every aspect
of business that we can measure.

 

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Have you been rewarding performance objectively?

To perform is to create value.

To define what constitutes value, a desired end-state must be articulated first.

With the end-state clarified, value creation is then defined as anything that
brings the organization closer to its desired end-state.

 

WHAT & HOW

To ensure effective Performance Monitoring:

  1. Align and synchronize your KPIs:
    – Articulate vision, mission, and values;
    – Identify strategic objectives;
    – Formulate strategic initiatives & routine improvements;
    – Develop key performance indicators & weights;
    – Commit action plans, resources, budgets.
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  2. Don’t forget the meaning of ‘Key’ in KPIs!
    – Key Result Indicators (10): Tells how you have done in a perspective;
    – Performance Indicators (80): Tells what to do;
    – Key Performance Indicators (10): 
    Tells what to do to increase performance dramatically.
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  3. Your objectives & goals must be S-M-A-R-T-E-R:
    – Specific;
    Measurable;
    – Attainable;
    – Relevant;
    – Timebound;
    – Exciting;
    – Resourced.