Key Performance Indicators, or KPIs represent a set of measures focusing on those aspects of organizational performance that are the most critical for current and future success. These performance metrics are linked to strategy and are derived to measure performance against critical success factors. Developing KPIs follows a process of:
- Establishing critical processes/customer requirements
- Identifying specific, quantifiable outputs of work
- Establishing targets against which results can be scored
In many cases, organizations are aware of some of the metrics they need to understand organizational performance, but when they consider a comprehensive set of metrics that span financial, operational, customer, and workforce, they may discover that they have gaps. cPMT offers consulting services to identify and document these KPI's so organizations can populate the cPMT software with information that is critical to managing their performance. Often organizations use a cPMT consultant to be the objective third party in identifying and reaching consensus on operational definitions for "apples-to-apples" comparisons for multi-site organizations and benchmarking initiatives.