Q.What are some characteristics of good performance measures?
- Meaningful — significant and directly related to the mission and goal.
- Responsibility Linked — matched to an organizational unit responsible for achieving the measure.
- Organizationally acceptable — valued by those within the organization.
- Customer focused — reflect the point of view of the customers and stakeholders.
- Comprehensive — include all key aspects of the organization performance.
- Balanced –– include several types of measures, i.e., outcome, efficiency, and quality measures.
- Timely — use and report data in a reasonable time-frame.
- Credible — based on accurate and reliable data.
- Cost Effective — based upon acceptable data collection and processing costs.
- Compatible — integrated with existing financial and operational systems.
- Comparable — useful for making comparisons with other data over time.
- Simple — easy to calculate and interpret.
To create a Balance Score Card of your organization using the above criteria’s get in touch with The idea smith.