The Catalogue of Performance Measures
Background
Selecting the right performance measures for a given business is difficult because every dimension of business performance can be measured in several different ways. Delivery performance, for example,can be assessed by counting the number of orders delivered on time,or the percentage of orders delivered on time. Additional complexity is introduced by the concept of "on-time delivery". If an order is delivered early, should it be categorised as on-time? What about orders that arrive when promised, but incomplete?
The aim of this project is to produce a catalogue of best practice performance measures which highlights problems such as these and explainshow organisations have overcome them. The catalogue is designed so that it can be used as a reference guide by people seeking information on how they might measure specific dimensions of performance.
The catalogue:
- details the main features of performance described in the literature and used in industry;
- explains how each of these measures of performance can be operationalised;
- evaluates strengths and weaknesses of each the measures of performance; and
- highlights sources of further information.
It does so by answering the following questions for each measure
- What is the measure? The title of the measure
- Why should we measure it? Why measure? The role of the measure in different contexts.
- How do we measure it? Definition / formula of the measure – providing possible options
- What do we need to consider when defining the measure ? Definitions of key terms, possible sources of data, ways in which the data should be analysed, questions to be asked when using the measure
Catalogue Structure – The Performance Prism
The catalogue is structured around the Performance Prism. The Prism takes a Stakeholder-centric view of performance measurement. It reflects the need to not only measure Stakeholder Satisfaction but also Stakeholders’ Contribution to the organisation’s wants and needs.
The catalogue contains measures of each of the following distinct, but logically interlinked, dimensions of performance
Stakeholder Satisfaction – who are our stakeholders and what do they want and need?
Strategies – what strategies do we have to put in place to satisfy the wants and needs of these key stakeholders?
Processes – what critical processes do we require if we are to execute these strategies?
Capabilities – what capabilities do we need to operate and enhance these processes?
Stakeholder Contributions – what contributions do we require from our stakeholders if we are to maintain and develop these capabilities?
Click below to view a recent article on the Performance Prism and Catalogueof Measures
The Catalogue of Performance Measures is now also included within CorVu’s performance management software.
Click for more information Visit CorVu
Please note that a version of the Catalogue is available in the Performance Prism book
However that is not the latest date version. The latest version is 25% bigger than the version in the book and purchasing a licence will entitle you to future updates of the Catalogue as it is enhanced.
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