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In a previous article in this magazine (‘The new thinking on key performance indicators’, F&M 133), I discussed the importance of identifying, measuring and monitoring a business’s winning key performance indicators (KPIs). Companies with 250 or fewer employees often ask if identifying winning KPIs would work for them and, crucially, whether there is a simpler, truncated process for doing so. The answer is […]
From my observations the failure rate for KPI and balance scorecard projects is off the scale. There are a number of contributing factors that have led to this failure rate.
Organizations, in both the private and public sectors, are being run by management who have not yet received any formal education on performance measurement. Unlike accounting, […]
by David Parmenter
I have been working with performance measures for over 20 years, and in that time I have witnessed minimal progress in the right direction. Deriving measures is often viewed as an afterthought. They are regarded as something we fill into a box to say we have achieved a goal.
However, I firmly believe that […]
I have become increasingly aware that key performance indicators (KPIs) in many organizations are a broken tool. Measures are often a random collection prepared with little expertise, signifying nothing. KPIs should be measures that link daily activities to the organization’s critical success factors (CSFs), thus supporting an alignment of effort within the organization in the […]
You will need to: Complete my checklist “Are you ready for a KPI project”. Read David’s chapters on The Great Misunderstanding with regards to KPIs and the myths of performance measurement.
Then carry out these 17 tasks (references are to KPI book 3rd edition)
Selling the KPI project to the CEO, the senior management team and the organization’s oracles. (See […]
From my observations the failure rate for KPI and balance scorecard projects is off the scale. There are a number of contributing factors that have led to this failure rate.
Organizations, in both the private and public sectors, are being run by management who have not yet received any formal education on performance measurement. Unlike accounting, […]
Is your work relevant to Government and nonprofit agencies?
Most certainly. I have in fact written a book to address this issue. However, For measurement to work in government and nonprofit agencies, there has to be a radical change in the way performance management and measurement is approached and addressed.
Without tackling the common flaws in performance […]
Who should run the Balanced Scorecard (BSC) project?
Because accountants have limited technical interests and because of technical jealousies I suggest economists be used to develop and use KPIs. They have the advantage of training in forecasting and some background often in accounting. They are not used but represent a great potential. They are also likely […]
Are KRIs and Key Goal Indicators (KGIs) the same thing?
Most likely they are. Indeed, some people talk about strategic KPIs and no doubt, we are all on the same wavelength. I prefer result indicators because it makes it very clear to people that they are the result of many activities, but it does not matter […]
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