Performance Monitoring and Reporting



Performance Monitoring and Reporting

Introduction

Healthscope is Australia's top most private organization that provides services of healthcare for the people of the country. The organization provides services to many leading private hospitals. These organizations include international pathology and the medical and pathological centers of Australia. The organization is based in Melbourne. The operations of the organization are widespread in all the states and territories of Australia, as well as, international countries like Singapore, New Zealand, Vietnam and Malaysia. The current number of employees in the company is about 19500. There are three divisions of operations that the organization is working in that includes the following

Private hospitals in the country

The medical centers and the pathologies in Australia

The international pathology testing services and their provisions

The company started its operation in 1985 and got listed in the Securities Exchange Commission of Australia in the year 1994. Since its inception and listing, the company is working on the expansion and the extension in the scope of the business.

Discussion

Performance monitoring is a set of management processes (planning, organizing the implementation, monitoring, and analysis) that enable businesses to define strategic goals and then measure and manage projects to achieve the targets, optimizing the use of available resources. This control system is built on the principles of cost control company (Holman & Totterdell, 2002). Performance monitoring covers the full range of tasks in the field of strategic, business, marketing and operational management of the company. It includes the use of such control techniques as modeling approach, the balanced scorecard, process-oriented planning and value analysis, budgeting and business modeling, the consolidated management reporting and analysis, and monitoring of key performance indicators that are associated with the method (Ball & Wilson, 2000).

Discussion

Performance monitoring involves three primary activities in all areas of management

1. Goal Setting

2. Analysis of the indicators of the performance of business goals and

3. Managing the impact of managers on the results of the study to improve the future of the business to achieve the objectives (Powers & Shen, 2007)

Since 1992, performance management has greatly influenced the development of the concept of the Balanced Scorecard. Typically, managers use the balanced scorecard in order to make clear the purpose of the company for staff to determine how to monitor the achievement of the purposes. It is also used to implement a mechanism that signals the need for corrective action activities of the business (Kloot & Martin, 2000). These actions are the same as we can see in the concept of CPM, and as a result, the balanced scorecard is most often used as the basis of a performance management system in the company. Using the methods of performance management, the owners want to bring the strategy to all levels of the business, to transform strategy into the performance, and metrics that measure these actions, and use subject to find the cause-and-effect relationships that are being meaningful that assist in making informed decisions.

The Cycle of Performance Monitoring used in the Organization

CPM - a cycle of feedback control, ...