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Performance Measure Development Sheets
Effective performance measurement systems consist of high-quality individual measures associated with a strongly interrelated framework. Using this deliberately developed framework, leaders ascertain organizational performance quickly and accurately. The system itself should be economic to maintain and provide readily available updates typically necessitating a degree of automation. Quality systems present the same view of performance to a broad number of individuals within the organization concurrently. To achieve all of these qualities, each measure must be well thought-out and developed individually and then integrated into the collective system.
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Additional Information
Additional information on the individual characteristics of quality performance measures and their construction can be found in the following StrategyDriven articles and documents:
Articles
- Organizational Performance Measures Best Practice – Common Construction Characteristics
- Organizational Performance Measures Best Practice – Style Sheets
- Organizational Performance Measures Best Practice – Performance Metrics Inventory Database
- Organizational Performance Measures Best Practice – Predefined Action Thresholds
- Organizational Performance Measures Best Practice – Multiple Action Thresholds
- Organizational Performance Measures Best Practice – Performance Measures and Thresholds Aligned with Regulatory Standards
- Organizational Performance Measures Best Practice – Contextual References
- Organizational Performance Measures Best Practice – Documenting Performance Measure Drivers
- Organizational Performance Measures Best Practice – Map Performance Measure Ownership
Documents
- Organizational Performance Measures – Types
- Organizational Performance Measures – Construction
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.
Federal, state, and local governments regulate almost every aspect of the business environment. While many requirements necessitate one-time actions, others govern ongoing business operations. Performance measures dedicated to monitoring compliance with regulatory requirements and possessing thresholds tailored to ensuring timely, preemptive corrective actions prevent noncompliance, provide regulatory margin, and minimize management distraction.
Organizational performance measurement systems are complex structures cascading vertically from the executive suite to the shop floor and stretching horizontally though many different functional workgroups. Consequently, the design of a performance measurement system takes on a high degree of complexity because of the numerous interrelationships between various organizational levels and workgroups and the cross-functional sharing of common metrics. Thus, it is important to employ a multidiscipline team to design the measurement system, one that includes representatives from all levels of the organization as well as each functional area.
“Not everything that can be counted counts, and not everything that counts can be counted.”
Recovery from a significant event is costly and disruptive. While an expense, mitigating and preventing activities taken to prevent the event’s occurrence are typically far less expensive. From a business perspective, the challenge becomes that of balancing the value of risk reduction with that of the mitigating and preventative activities’ cost.
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