Business Performance Management Guide

Performance management tips, best practices, applications, articles and software for planning and managing performance goals, objectives, targets, metrics and KPIs for corporate and small business performance management. How to develop and organize a successful business performance management system?

Excel Dashboards and Performance Management

How to create powerful excel dashboards and performance measurement system for your business by focusing on the most important metrics and KPIs….

Project Estimation Tips and Techniques

Generally in most projects number of techniques will certainly be applied due to the fact that for some job you will have data, for some you may have specialists in house that will direct you and you may as well inquire to get guidance externally. There is absolutely no one greatest technique with regard to project estimation….

Choosing key performance indicators for operational dashboard reporting

The company process view of the balanced scorecard and each operational dashboard in business reporting can be a critical factor for the efficiency in the businesses. This is true for every kind of business such as service businesses, production providers, professional practices not to mention small businesses. Because of this building the operational reports warrants focus and initiative backed by the important stakeholders inside the company….

R&D Metrics and Key Performance Indicators

The Research and Development function or department in any organization is a driving force for innovation, new technology development, creating new products, processes, solutions, services and know-how. It is equally important for both small business and large organizations. Setting the right strategy for R&D requires focusing on the unique metrics and KPIs…

KPI Guide for Business Management – Templates, Overview, Tools and more

What are key performance indicators? How are KPIs different from other business metrics? History of KPI management and performance measurement. Download templates and tools to create your relevant KPIs and create excel KPI dashboard reports….

KPIs, Metrics and Performance Management in the Construction Industry

Managing performance, tracking metrics and monitoring key performance indicators in construction businesses is very critical. Every year thousands of construction companies go out of business – it’s a very competitive environment and without smart KPI performance management growing your construction business….

The 5-Step KPI Metrics Evaluation Process

While developing your brand new business dashboard or even reviewing your existing management scorecards and reports you need to make sure that you evaluate your dashboard KPIs and metrics. There is an easy and powerful way to do this by going through the 5 quick steps to audit and improve your key performance indicators and measures….

Weekly and Monthly Reports Templates for Excel

How to develop a good management report template and save time over and over again. Monthly reports and weekly reports are part of every business management simply because it aligns all activities at all levels into a successful performance system…

1-Minute Chiropractic Practice Management System

Effective Chiropractic Practice Management is a set of carefully crafted strategy-driven and properly selected management techniques and processes that allows you to accomplish your strategic practice management and profitability goals and outperform your competition by using…

Creating Performance Metrics and KPI Dashboard

Performance Metrics Dashboard Creation should not be complex, expensive and time consuming. Follow these simple steps and tips to plan and start smart and download the excel dashboard templates to develop your professional and cool performance dashboard in a matter of few clicks…

Template for Creating KPIs and Developing Business Performance Metrics

Quick Guide for Brainstorming your Dashboard KPIs and Metrics developed to be used with your Excel Dashboard Templates. Download the PDF template and work with your team members to create the list of your Top Key Performance Indicators…

Examples of KPIs and Metrics Used by Chiropractor Practices

Many chiropractors report improved practice performance management by using KPI dashboard reporting. In a recent survey of chiropractor practices, 74% of the respondents reported a significant managerial progress after only 90 days of using the excel dashboard templates to monitor their metrics…

Process Improvement: Simplified Guide and Steps

In other words these spots are generally where the waste exists in your company – this can be money waste or indirect waste like time, man power or quality issues. Turn to exactly where waste happens in the process movement. Process improvement pushes apart waste and raises value in the business…

Tips on Creating Employee Performance Evaluation System

In order to avoid potential conflict among these three forms of performance management review the best case scenario for management is when the official performance measurement system is in line with the managers’ as well as employees’ opinions and experiences…

Scenario Planning Tools, Review and Process

Scenario planning tools and processes in business are not only about predicting the future trends but it is about creating flexible business strategies and tactics as a response to future potential scenarios and outcomes. What if thinking and long-term perspective are critical…

How to Choose KPIs for your Company

It’s an old saying that what you measure is what you get so the process of selecting the top KPIs for your company – the ones which are going to be most effective for your business reporting and business intelligence is an important process for your organization and performance management…

Business Metrics and KPI Performance Management Lessons from Over a Century Ago

Picking the one single most important key performance indicator for management is not an easy decision. However the benefits of selecting a few KPIs and metrics..

Balanced Scorecard Creation Cheat Sheet and Reports

Creating your balanced scorecard report is more than making a list of KPIs but it requires good judgment, decision making and team work…

Balanced Scorecard Templates and Guides

All you need to know about the balanced scorecard and strategy maps development: Templates, Guides, Tools, Tips, Resources, Downloads and more…

Balanced Scorecard Internal Process Perspective

Monitoring, measuring and improving the internal organizational system and processes. Balanced scorecard is one of the widely used performance management tools…

3 Levels of Performance Management

Measuring and managing organizational performance as well as improving performance in business can be viewed and analyzed on 3 different levels. These levels are: organizational performance, team performance and individual performance…

10 Productivity Tips

Have you ever applied the Pareto Rule to your everyday tasks? While we all know Pareto suggests that 80% of our productivity is a result of only about 20% of our efforts, we all sometimes take the routine tasks we do on a daily basis as granted…

What is Benchmarking?

Benchmarking in business is the process and system for comparing your results, products, processes, performance, etc. against a predefined standard or criteria. The overall goal of benchmarking is continuous improvement. Companies compare results with the leaders in certain areas and by doing that they identify areas for improvement…

5 Steps to Analyze your Stakeholders

The most important issue in stakeholders analysis is that your stakeholders have different interests in your business and sometimes their interests might be in conflict with one another. It is your job to make an assessment and accurate analysis of your stakeholders and develop strategies which take into consideration the pros and cons of various decisions…

The McKinsey 7S Model

The 7S Model: The 7 elements together offer a strategic planning model for holistic and overall evaluation and assessment. In addition to organizational analysis and planning the same approach can be used for evaluating and planning departments, projects, regional operations, teams…

Balanced Scorecard Financial Perspective

The financial perspective of the balanced scorecard includes the key financial measures – ratios, KPIs and metrics which help managers monitor the financial results of the organization. The specific financial metrics used will depend on the company and its overall strategy however…

How to Monitor Your Business Trends

The major benefit of continuous trend monitoring system for business reporting is the manager’s ability to identify critical trends on time. This saves time and money and reduces the business risk both in short term and long term by allowing managers to act on new opportunities…

Moneyball: The 5 Performance Management Lessons for Managers

How small-budget companies can use performance management to outperform the leaders in their industries. Moneyball can teach managers a valuable lesson on how to use performance measurements and performance management to achieve great results and compete against the leaders…

Employee Innovation Management

Employee Innovation should be encouraged and managed. What is important for employee innovation and what should you do to create an innovative organization? There are a few issues here which are critical for creating the innovation culture…

Product Driven Supply Chain Management

Changes in product strategies always demand many other changes like completely different marketing strategy, sales tactics, operations, pricing, target market audience and efficient and productive supply chain management…

What Are Key Performance Indicators?

What are KPIs and why they are critical for success of any organization in business? What is measured, tracked and monitored is more important than how it is measured as long as it doesn’t require ongoing time and efforts from the users. KPI dashboard reporting in addition provides managers…

Benchmark Performance

While we improve compared to previous years without external benchmarks we are not really aware of how good we are. What if our revenue grew by 5% in the last 3 years but we don’t know that other companies in the industry had a two-digit growth…

How to Coordinate a Project

To coordinate a project managers need to apply a set of various project management tools, techniques and skills. The overall goal of coordinating a project is to make sure that the project is completed on time, within the budget and delivers the required results which are clearly defined in the project plan…

The 10-Step Business Planning Process

Business planning process: This simple business planning framework uses these 10 simple steps to walk you through the process so you can analyze your business and gather all the required information when you need to create a business plan…

15 Invaluable Laws of Growth

Book Review: “The 15 Invaluable Laws of Growth: Live Them and Reach Your Potential” by John C. Maxwell offers some really good principles for business professionals. This book might be one of his best books so far…

Service Management System

Service management system and processes: How service production and service delivery systems can be defined, managed and improved just like traditional production and product inventory systems. Service inventory and process…

Business Dashboard vs. Business Performance System

Business dashboard reporting should be the critical component of your performance management system. The KPIs and related business metrics on your dashboard should be integrated in a way that communicates effectively not only the “what” but also the “why” of your current performance…

Operational Risk in Business

What is operational risk in business? Operational risk is part of any business in any industry – regardless of the company size. Risk must be managed so companies can prevent losses and minimize the risk involved in their business operations and daily activities…

Multi Voting Technique for Teams in Business

Multivoting is a management tool used after brainstorming sessions when the team will generate a large list of ideas which must be reduced to some manageable number of items…

Balanced Scorecard Customer Perspective Examples and Metrics

The customer perspective or customer category in the Balanced Scorecard reporting and performance management is critical for achieving your strategic objectives which is the overall goal of each and every balanced scorecard initiative…

Pareto Examples for Business

Examples of Pareto Principle in various business situations and how you should use these examples to apply the pareto rule in your business and identify areas of improvement…

Customer Service KPI Reporting Guide

Customer Service Reporting, Analysis and Management is a critical source of information to improve your business overall. Customer Service KPIs and Metrics on your dashboard…

Operating Performance Ratios

Understanding organizational operational performances is critical, however it take a lot of time looking at various financial ratios, gathering information, collecting data and analysis. Here is a way to evaluate operational performances with these 3 simple financial ratios…

General vs Specific Business Metrics and KPIs

When you design and create your business scorecard it is important to take into consideration both generic and specific metrics for your business. Understanding your KPIs is important for you to be able to develop the right scorecard and measure effectively your business performances…

Tips on Avoiding Analysis Paralysis in Business

Having too many choices and analysis paralysis prevent us from making decisions and frequently we end up without making decisions because we create a complex situations even when…

Supply Chain Metrics Examples: The Cycle Time KPI

The cycle time KPI is part of the supply chain metrics. The cycle time definition will vary based on the business model and company’s strategy however cycle time in general is the difference between the time when the customer places an order and the time when the customer receives the order…

PEST Analysis Examples

What is PEST Analysis and how this management analysis framework and methodology can help you position for the future by understanding and evaluating external factors, minimizing risk and maximizing opportunities for your business…

How to Create a Successful Performance Management System

The 5-Step Process of Creating and Sustaining an Effective Performance Management System for your Organization. How to Improve Performance and use the right KPIs for your business…

Benefits of Business Dashboard

Business analysis and reporting dashboard is the necessary ingredient for success of your business. The benefits, functionalities and features are numerous: your business dashboard is your reporting, analysis, presentation, alert, communication management tool…

How to Improve your Creativity with SCAMPER

SCAMPER is an easy-to-use tool with seven structured categories that will boost your creativity, innovation and brainstorming whenever you need fresh and new perspectives and ideas. SCAMPER is very effective creativity tool used in new product, service, process… development and improving current products…

Outsource Business Analysis and Application Development

Virtual Business Analyst outsourcing services expected to open new spots soon. If you are interested in Virtual Business Analyst please make sure you join the waiting list so you don’t miss the next opening. Virtual Business Analyst is an ongoing 100% customized business intelligence, business analytics and application development service working on the back end of your business…

Business Intelligence Reports

Business intelligence reports are essential tools used by business managers, business professionals and decision makers in business. Business intelligence reporting gives business users the information they need when they need it so they can make smart decisions. Effective business intelligence reporting systems and templates save users time and frustration on a daily basis…

Call Center Metrics

The Most Important Call Center Metrics and Call Center KPI: Though the average call center manager will monitor over 25 call center KPI, this will usually only manage to generate a great deal more work for that individual, and will not lead to much in terms of improved performance and productivity for the department. The most successful world-class departments rely on only the five most important call center KPI, which are…

Getting to Know Management by Objectives (MBO)

Management by Objectives (MBO) is a form of goal definition within a business that allows the management and the rest of the employees to understand and agree on the same outcomes that need to be achieved by that business…

Performance Management

Tips on developing effective performance management system…

Chart Maker

MR Dashboard Chart Maker Software allows you to create Visual representation of your Excel Data (Charts, Maps and Gauges / Speedometers) and automatically with a click of a button create html pages to use them online and offline…

Pareto Analysis

Pareto Principle also known as 80/20 rule can help you improve your strategic focus…

Break-Even Analysis

What are your business limits? Break-Even Analysis overview and applications…

Business Dashboard

What is a business dashboard and how business dashboards can help your overall business intelligence?

Business Process Analysis

Understanding business process analysis. Defining, analyzing and improving business processes through business analysis and business process improvements.

Keep Score: Financial Dashboard Reports for Small Businesses

How small businesses can use dashboard reporting to improve their business insight?

Metrics

What is a metric? Define your business objectives and metrics…

Business Chart

Business chart types and tips on when and how to use them for your business reporting…

Benefits of Business Intelligence

Free Guides on Business Intelligence – Benefits of Business Intelligence, Business Intelligence Reporting, Business Intelligence Planning, Business Intelligence Metrics, KPIs, Scorecards, Reports, Templates and more…

Performance Metrics Development

Tips on performance metrics development. Simple approach from raw data to useful information…

BUSINESS PERFORMANCE MANAGEMENT FAQ:

How Can your Business Gain from Performance Management?

Performance management, at its very core, is a set of activities necessary for any business that would like to see its goals met on a consistent basis by means that are both efficient and effective. Every company has its own way for a performance management strategy to be implemented, depending on its focus. This focus may be as broad as the entire organization, concentrated on each department, or geared specifically toward the growth of the company’s product or services. The following will help you to gain an understanding as to what performance management is, and how it can be applied to your organization.

Where Will Your Business Improve With Performance Management?

There are four main areas of a business that can benefit from the implementation of a performance management system. Depending on your goals, your strategy may involve one or more of these areas. They include:

– Stability of finances – this is especially relevant in terms of short-term requirements; for example, meeting minimum financial obligations such as paying bills. This is a level that is frequently overlooked by businesses, especially as they attempt to build their capacity.

– Stability of the company as a whole – this refers to the ability of your business to deliver its products and services consistently in order to ensure its survival.

– Growth of the company – here, the focus is placed on drawing in additional resources while being able to offer more products or services. The accomplishment of growth in a business, alone, should not be viewed as an indicator or measure of successful performance.

– Quality of products and services – this involves sufficient research into improved products and service programs and the observation of impact indicators

How Will Performance Management be Practiced by Your Business?

The nature of performance management can make it difficult to define as a specific activity, as it requires several different types of efforts and measures in order to practice it properly. Overall, it is a process that consists of the following in order to achieve a specific goal:

How to Recognize an Effective Performance Management System?

If your business is properly using a performance management process, then you should have a thorough system in place that takes advantage of the full potential of development, engagement, and performance throughout the entire company. It should:

– Have flexibility, efficacy, fairness, transparency, and measurability

– Be consistently and regularly defining and expressing performance expectations

– Ensure that the tasks of the employees are geared toward the goals and objectives of their departments

– Concentrate on the development of the company in a proactive way that creates a skill foundation that will satisfy future needs.

Why is it Important to Measure Performance Management?

Measuring performance management is a critical element of its implementation. This is because it provides objective information that allows you to determine its success and gauge the value of a given effort. Though the final achievement of a goal does offer a vague indication of proper performance management, measurement allows for a more thorough comprehension of a goal’s its various parts so that its strengths and weaknesses can be identified, and improvements to efficiency and effectiveness can be made.

Without being able to measure the results of performance, it is impossible for managers to ensure the best operation of their assignments. Therefore, it is necessary for performance reports to be completed often and consistently, allowing corrections to be made in a timely basis and to encourage strong performances.

Failure to measure removes the ability to identify areas of strength and weakness, to know where improvements are necessary, and to properly allocate (or re-allocate) the company’s resources. Without proper measurement, it also means that performance cannot be compared among products or departments, or between your business and the competition.

Measuring as a part of your performance management strategy means that you will always have a much clearer idea of where improvements or declines are occurring and in which specific areas of the business – from employees to techniques or strategies – the best results are taking place.

Though many businesses hesitate in the face of performance management, as it can appear overwhelmingly challenging and daunting at first glance, the rapidly changing nature of today’s organizations makes it vital to be able to measure elements as complex as performance to avoid losing sight of the final goal and the best path to achieving it.


Additional Resources:

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