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Performance Management refers to how an organization leverages its assets (people, money and technology) to achieve short-, medium- and long-term strategic goals.
Performance Management secures that the right processes, methods, metrics and systems are available to the organization, and that the information is focused on the requirements of different users. For example, Balanced Scorecard is a good method of translating a strategy into targets.
Performance Management should be aligned with the enterprise strategy and other supporting strategies, like IT and HR. Performance Management should also be implemented at all levels within the enterprise.
Performance Management implementations help organizations improve performance by focusing on accountability, culture toward measurement and transparency by:
- See a clean and simple reality
- Manage and align resources (people, money and technology) to strategy.
- Improve foresight and optimize value.
- Balanced Score Card
- Models all Key Performance Indicators (KPI’s)
- What-If and Scenario analysis
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