Performance Measurement Overview
The purpose of measurement is to measure, communicate, manage and improve business performance.
Centric Consulting’s Performance Measurement approach helps organizations align operational activities with strategic business priorities that include balanced scorecards, metrics and a closed-loop performance measurement system.
By properly designing and implementing measurements, you can drive the right decisions and behaviors throughout diverse operations. And you can answer key questions like:
- 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?
Understanding Your Process Excellence Capabilities
Achieving process excellence is not easy and not a singular event. It’s a journey. It may take months or even years, depending on your current level of process focus and process maturity.
Do you know where you stand? Reach out so our consultants can help you:
- Understand your current process improvement capabilities.
- Find out how you stack up with other organizations in your industry
- Discover the steps to take to address the gaps between where you are and where you want to be.
- Learn how you can build a strong foundation for growth.
Our Performance Measurement services are packaged to provide clients with end-to-end and point-specific solutions. Learn more about each capability in our Performance Measurement approach.
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 a partial point of view such as labor productivity or capacity utilization. Performance should be looked at from several different perspectives. All of them are conducive to the strategic success of the enterprise. We 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. We work with you to define actionable, controllable and repeatable metrics that align to your key business strategies. We also design balanced scorecards and reports that clearly communicate metrics to stakeholders.
Closed Loop Performance Measurement
A closed loop performance measurement process turns measures into action. It defines the end-to-end processes for gathering, analyzing, and using performance data by providing:
- An iterative process that continually assesses whether current measures drive the company toward its strategic vision
- A feedback and review process that allows an organization to monitor short-term results without losing site of 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. Our 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 data should be analyzed and used
- Establishing agreement on metrics with key stakeholders
- Aligning 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 allows employees at all levels of your organization to 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 discovery of potential improvement
- Rewarding performance improvements
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