Archive for the ‘Performance Measure Frameworks’ Category

IN THIS EPISODE:

Feature: 3 Things You Must Have Before KPIs Can Work.
Q&A: How do you implement KPIs efficiently?
Quick Tip: The Power of a Measures Team.

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We rush off in search of KPIs or performance measures way too soon. We find some, grab them and shove them into the KPI columns in our business plans or employee performance plans. Then we expect to hit targets. But it doesn’t happen.

People don’t use the KPIs, they complain about them, and even fail to bring them to life (that is, report them). That’s because at least 3 important must-haves are missing.

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Most of us know we need feedback from customers in order to make service delivery and product design more in line with customer needs and expectations. But too often, our customer surveys fail to get truly focused and actionable data. Here is a simple approach that gives you punchy customer feedback, without overloading the customer with a thousand and one questions.
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If you go looking for KPIs or performance measures, you’ll often come across articles that debate the pros and cons of various measures, or that compare the merits of one measure to another. But don’t be fooled: the search for the measures that are best for everyone is a search in futility.
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Performance measurement is a process, not an event. It’s a series of specific activities for creating, implementing and using performance measures, and it’s not just a brainstorming session on the tail-end of your business planning workshop. If you don’t take each step in the process deliberately, there’s little wonder your performance measures or KPIs just aren’t measuring up.

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You depend on the quality of data and information to provide a stable foundation for your decision making. Decision making often involves responding to something, so you need your data to validly describe what you are responding to so that you choose the right responses.

Whether your data is quantitative (based on numbers) or qualitative (based on perceptions), it’s integrity depends on 5 widely recognised qualities.

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In the first part of this three part series, I posed the first challenge that I face with the Balanced Scorecard: it is hard to cascade meaningfully. And in part two was the second challenge: the Balanced Scorecard perspectives are too limiting.

The third thing I don’t like about it is this:

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In the first part of this three part series, I posed the first challenge that I face with the Balanced Scorecard: it is hard to cascade meaningfully.

The second thing I don’t like about it is this:

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We have to applaud the Balanced Scorecard for the evolution it triggered in organisational performance measurement and strategy execution. But no model is without its limitations.

Certainly, on account of the Balanced Scorecard, we’re now seeing the measurement of non-financial results rather than just the financial, and we’re seeing strategies laid out in logical and cause-effect linked plans designed for execution rather than shelving.

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How to find the right measures is the most asked question in the field of performance measurement. And it’s little wonder, because the more meaningful measures track outcomes which tend to be less tangible than the traditional things we’ve measured, like how many widgets we produced.

How do you translate results so intangible as employee morale or service quality or corporate image into solid, robust measures?

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