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The Seven Foundation Stones of A KPI Project

The Seven Foundation Stones of A KPI Project
 

Partnership with the Staff, Unions, and Third Parties
Transfer of Power to the Front Line
Measure and Report Only What Matters
Source All KPIs From the Organization’s Critical Success Factors
Abandon Processes That Do Not Deliver
Appointment of a Home-Grown KPI Team Leader
Organization-Wide Understanding of the […]

By |November 19th, 2019|articles|0 Comments

The Three Stages of A KPI Project

The Three Stages of A KPI Project
Source: Extracted from
Key Performance Indicators – developing, implementing and using winning KPIs (4th Edition)

Getting the enterprise committed to the change and up-skilling the in-house KPI team
All major project implementations are deeply affected by the success or failure in leading and selling the change. Chapter 4, which outlines John Kotter’s model […]

By |November 19th, 2019|articles|0 Comments

Assessing Your Progress with Performance Measures Checklist

Checklist to assessing your progress with performance measures checklist

Knowledge of the critical success factors
Is it covered?

1.      Senior management have a common understanding of the organization’s success factors.
o Yes   o No

2.      The organization has identified the critical success factors.
o Yes   o No

3.      The critical success factors have been communicated to all staff and are impacting positively […]

By |November 19th, 2019|articles|0 Comments

Indicative KPI Project Rollout Durations

Indicative KPI Project Rollout Durations

Project stages
One-person team
Two-person KPI team
Four-person KPI team

Size of Organization (FTEs)

Less than 100 FTEs
100- 250
250 to 500
500 to 3,000
3,000 to 10,000
over 10,000+

1 Getting the enterprise committed to the change and up-skilling an in-house KPI team.
1 week
1 week
2-3 weeks
2-3 weeks to holding company

2 Ascertaining the operational critical success factors.
2 weeks
2-3 weeks
4-6 weeks
4-6 weeks
4-6 […]

By |November 19th, 2019|articles|0 Comments

Examples of Common Future Indicators

Examples of Common Future Indicators

Future innovations
To encourage future innovations, it is desirable to measure the number of new innovations that will be fully operational in the next month, month two and month three by department.

Future key customer events
To maintain a close relationship with our key customers a list should be prepared with the next agreed […]

By |November 19th, 2019|articles|0 Comments

Three rules for sorting through measures

Three rules for sorting through measures:

If it is a financial indicator – it can never be a KPI
If the time period is longer than a week -it can never be a KPI
If you cannot phone someone to accept responsibility for performance – it is not a KPI as it is a result […]

By |November 19th, 2019|articles|0 Comments

The Four Types of Performance Measures

The Four Types of Performance Measures
From my research over the past 30 years I have come to the conclusion that there are four types of performance measures and thus it is a myth to consider all measures are KPIs. These four measures are in two groups: result indicators and performance indicators.

I use the term result […]

By |November 19th, 2019|articles|0 Comments

The Seven Characteristics of KPIs

Nonfinancial
1.      Nonfinancial measures (e.g., not expressed in dollars, Yen, Pounds, Euros, etc.)

Timely
2.      Measured frequently (e.g., 24/7, daily, or weekly)

CEO focus
3.      Acted upon by the CEO and senior management team

Simple
4.      All staff understand the measure and what corrective action is required

Team based
5.      A team can be phoned, and they will accept responsibility, and can take action […]

By |November 19th, 2019|articles|0 Comments

The 8 phases of implementing KPIs in SMEs

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 […]

By |February 14th, 2019|Comments Off on The 8 phases of implementing KPIs in SMEs

How To Choose the Right KPIs for Your Business and avoid failure

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 |February 14th, 2019|Comments Off on How To Choose the Right KPIs for Your Business and avoid failure