PERFORMANCE MEASUREMENT PAPER

Performance Measurement Paper

Performance Measurement Paper

Introduction

Performance Measures should identify the population to be measured, the method of the measurement, and the data source and time period for the measurement.

Performance Measures are quantitative or qualitative behavior to exemplify and describe appearance. They provide a tool for organizations to manage progress towards achieving predetermined goals, defining key indicators of organizational performance and Customer satisfaction. Performance Measurement is the process of assessing the progress made (actual) towards achieving the predetermined performance goals (baseline). Measurement is directed using production measures and effect measures. (Bennett, Lance & Woehr 2006, 351)

Performance management is used to track an organization's progress against its strategic plan and specific performance goals. While Performance Measures may be applied to individual projects to ensure that deadlines are met and costs is controlled, etc., it is essential for the Project Manager to understand how the project itself supports the organization's strategy, and how the project will impact or influence the organization's key Performance Measures. (Neely 2002, 226)

Compare and Contrast At Least Three Performance Measurements

Performance measures in the public sector is a large initiative to improve organizational business processes, the New York State Workers' Compensation Board recognized the need to measure performance within its organization. The development was predictable to noticeably recover operational efficiency, but how could that be established? The volume of work performed was the only measurement being calculated, and this did not reflect other aspects of organizational performance.

By recognizing and applying Performance Measures the plank would also be capable to measure the efficiency of its organizational business process improvements. Because the business process developments being implemented were going to influence the complete organization, the Board was challenged with identifying and developing Performance Measures that would be widely applicable. Appropriate metrics were needed for Executive Management, Performing Organization Management, Project Management, and individual Project Team members. It became apparent that implementing Performance Measures to the level of detail required would become a project in and of itself! The Board assembled a Project Team that was charged with: I Defining Performance Measures - Team members quickly realized that while many ideas and methods for performance measurement already exist, it would require some effort to find the ones that would work best for them. (Bennett, Lance & Woehr 2006, 351)

While in the balanced scorecard, activity based costing, competitive benchmarking, and shareholder value added. Each of these provides a unique and different lens through ...