Business Performance Assessment Program Best Practice 12 – Define Issue Materiality

Business performance assessments seek to identify meaningful improvement opportunities for an organization, typically in the areas of safety, performance reliability, and operational efficiency. Meaningful or material opportunities are those representing a performance improvement that satisfies a regulatory requirement, exceeds the organization’s financial return on investment threshold, and/or provides a not easily replicable advantage over competitors. As such, assessors should evaluate potential performance improvement opportunities for their materiality; focusing on those offering the organization meaningful gains.

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About the Author

Nathan Ives is a StrategyDriven Principal and Host of the StrategyDriven Podcast. For over twenty years, he has served as trusted advisor to executives and managers at dozens of Fortune 500 and smaller companies in the areas of management effectiveness, organizational development, and process improvement. To read Nathan’s complete biography, click here.