Performance Measurement Service Overview
The purpose of measurement is to measure, communicate, manage and improve business performance. Centric’s Performance Measurement approach helps organizations align operational activities with strategic business priorities with balanced scorecards, metrics and a closed-loop performance measurement system. Properly designed and implemented measurements drive the right decisions and behaviors throughout diverse operations by answering key questions that include:
- How do we gain visibility to operations?
- Are we linking long-term strategic objectives to operational-level measures?
- Are we measuring the right things?
- How are performance measures interrelated?
- Are we improving our internal business processes?
- How does measurement become proactive?
Implementing a thorough performance measurement program allows your company to define and recognize the quickest path to business value by providing clear performance expectations and ongoing feedback on results.
Centric’s Performance Measurement services are packaged to provide clients with both end-to-end and point-specific solutions. Learn more about each capability in our Performance Measurement approach.
- Business Strategy Alignment and Value Driver Definition
- Performance Measurement Framework
- Metric, Scorecard and Report Development
- Closed-Loop Performance Measurement System
- Performance Measurement Culture
- Deploy and Monitor
Business Strategy Alignment and Value Driver Definition
Effective performance measurement puts vision and strategy at the center. Strategies are used to establish your organization’s objectives, which are then used to define the measures. We help you align your company’s strategic objectives across the organization by identifying value drivers and implementing associated measures including financial, customer service, operational effectiveness, and innovation.
Performance Measurement Framework
Organizations often measure business performance with some partial point of view such as labor productivity or capacity utilization. Performance should be viewed from several different perspectives, all of them conducive to the strategic success of the enterprise. Centric will work with all business units to develop a balanced scorecard that provides a comprehensive framework to view performance from multiple equally important perspectives.
Metric, Scorecard & Report Development
“What you measure is what you get!”, so ensuring measures are correctly defined is critical. Centric works with you to define actionable, controllable and repeatable metrics that are aligned to your key business strategies. We’ll also design balanced scorecards and reports that ensure metrics are clearly communicated to stakeholders.
Closed-Loop Performance Measurement Process
A closed loop performance measurement process turns measures into action. It defines the end-to-end processes for gathering, analyzing, and utilizing performance data by providing
- An iterative process that continually assesses whether current measures driving the company toward its strategic vision
- A feedback and review process that allows an organization to monitor short-term results without losing site of the long-term objectives
- A mechanism to guide decision making and continuous improvement efforts.
Performance Measurement Culture
Developing organizational buy-in to performance measurement philosophies and frameworks is crucial to success. Centric’s change management strategy integrates performance measurement into your corporate culture by:
- Establishing executive sponsorship
- Communicating the strategic role of performance
- Training managers on the concepts of performance measurement and how the data should be analyzed and utilized.
- Establishing agreement on metrics with key stakeholders
- Aligning the objectives and incentives for the individual with the overall business strategy
- Identifying ownership and developing processes required to maintain the Performance Measurement System.
Deploy and Monitor
Enabling a continuous improvement environment is critical to the successful deployment of any performance measurement initiative. Ongoing performance monitoring enables employees at all levels of your organization understand what they can do to help meet strategic objectives while improving business performance by
- Determining if targets are being met
- Measuring performance against value drivers
- Confirming progress against strategy goals
- Encouraging the discovery of potential improvement
- Rewarding performance improvements
Learn more about our process excellence approach by exploring each of our services and reading our blog series.
Process Excellence Services:
- Process Assessment and Value Targeting
- Business Process Improvement
- Performance Measurement
- Technology Enablement
- Process Excellence Program Enablement