Performance Measurement Paper

Performance Measurement Paper

Performance measurement is a tool or technique used to have structure and control in a project. Performance measurements are performance indicators about a type of project and how objectives and levels are measured. There are also several components involved in projects changes, people responsible, and the time scopes assigned. There are several performance measures for different categories of a project. Financial performance, quality of product/service performance, operation performance, research and development performance, and time management performance are just some of the types of measurable areas. This paper will discuss, compare, and contrast three performance measurements and the importance of performance measurements within a project.

Strategic, performance measurement-based management systems allow an organization to align its business activities to its strategy, and to monitor performance toward strategic goals over time " Performance Measure", (2011). According to "Performance Measure" (2011), “Performance Measures are quantitative or qualitative ways to characterize and define performance. They provide a tool for organizations to manage progress towards achieving predetermined goals, defining key indicators of organizational performance and Customer satisfaction.” Analyzing three performance measurements, competitiveness, innovation, and quality of service will be compared and contrasted accordingly.

Marketing and sales to the correct and appropriate target is essential to an organization. Keeping and maintaining a competitive edge toward a certain market is tuff to sustain. In projects sales growth and measured competitiveness is measured in the human resource and manufacturing/production areas. It is very important to have applicability for measurement of competiveness and maintaining it accordingly. A quality of service involves improvements in process, quality of service, and human resource. Measurements of performance and the competitiveness in quality of service function are vital to any and all corporations.

Innovation can be compared to three different measures of performance. Manufacturing, production, and quality are involved in the measurement of this function. Innovation is also in human resources and the ability to obtain qualified and know ledged employees to do the jobs necessary. Innovations can also be used to measure new and improved techniques that enhance marketing and sales division measurements. These types of performance measurements are applicable and different in different types of projects and objects being seeker. The purpose of performance measurements involve focusing on the company’s mission and strategic plan. Also appropriate measures reported for different levels and organization external and internal stakeholders?

Organizational project are formulated to enhance the operational flow of an organization and its performance. Reducing cycle times, improvements in marketing and overall customer satisfaction are some reasons of process improvement needs in organizational structures. Ensuring financial, customer, learning/growth, and internal business processes is considered the performing organizations outlook.

Defining performance measures for team members to realize and work from, formulate the project scope to identify company areas and involvement affected by project, understanding the project approach and team formed, developing a team and plan that will document the phases toward the implementation of the project, and identifying the risk associated along organizational fears, funding, data, and lack of possible implement process improvements must be associated accordingly. Best practice methods can exist in practices and performance in all aspects of implementation processes accordingly.

In conclusion, project performance evaluations are so very important and essential in business organizations. Technical, organization, and individual evaluation is so necessary in the success of any organizational structure abroad. Measurement systems are comprised of multiple measures. A measure (or metric) is a quantitative value that can be used for purposes of comparison (Simmons, 2000). A specific measure can be compared to itself over time, compared with a preset target or evaluated along with other measures. Since a measure is used for the purpose of comparison, it need not represent an absolute value. For example, in measuring customer profitability, knowing the relative distance in profitability between two customers may be as valuable (and more easily gotten) than knowing the absolute value for a customer’s profitability ("What Are Business Performance Measurement And Control Systems?” 2012). Designing attributes for objectives/subjunctives, financial/non-financial . Lagging/leading, complete/incomplete, responsive/non-responsive, inputs/process/outputs, critical/non-critical, and tangible/intangible are focuses in organizational structure and performance measurements.

Reference
PERFORMANCE MEASURE. (2011). Retrieved from http://www.cio.ny.gov/pmmp/guidebook2/Performance.pdf
What are Business Performance Measurement and Control Systems? (2012). Retrieved from http://www.kellen.net/bpm.htm