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1. It improves the bottom line by reducing process cost and improving productivity and mission effectiveness.2. A performance measurement system such as the Balanced Scorecard allows an agency to align its strategic activities to the strategic plan. It permits -- often for the first time -- real deployment and implementation of the strategy on a continuous basis. With it, an agency can get feedback needed to guide the planning efforts. Without it, an agency is 'flying blind'.3. Measurement of process efficiency provides a rational basis for selecting what business process improvements to make first.4. It allows managers to identify best practices in an organization and expand their usage elsewhere.5. The visibility provided by a measurement system supports better and faster budget decisions and control of processes in the organization. This means it can reduce risk.6. Visibility provides accountability and incentives based on real data, not anecdotes and subjective judgements. This serves for reinforcement and the motivation that comes from competition.7. It permits benchmarking of process performance against outside organizations.8. Collection of process cost data for many past projects allows us to learn how to estimate costs more accurately for future projects.9. If you are in a US Federal agency, it's the law. The Government Performance and Results Act of1993 requires a strategic plan, and a method of measuring the performance of strategic initiatives.10. It can raise you agency's Baldrige score, which can serve to increase its long-term chances of survival.
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We can measure how prolific a baseball player is, how profitable a company might be and how effective a salesperson is at his craft. But when it comes to measuring a company’s progress in achieving organizational targets, we often make glaring errors.
Rarely do we measure the right things for the right reasons. Rather, we choose the wrong metrics to track the wrong trends, measuring progress with flawed data.
To answer this particular issue, some one needs to understand why it is so important for the employees/organizations. The main reasons are:
a. Performance is related with target and target is again connected with the overall goal of the company in a particular period to be attained.
b. Target is assigned with the capability of individual employee.
So, based on the performance for a period how far the individual employee could achieve/perform the target after the period is to be examined by the Management/Supervisor.
Under performers are to be addressed separately to find out the reasons for not achieving the target. If required counsel them to improve the performance.
Besides, promotion, salary increase, incentive and greater responsibility of individual employee depend on performance management.
To ensure that you are on the right track and that you are mving at the right speed to reach your defined goals at the right time within the approved investment.
‘When you can measure what you are speaking about and express it in numbers, you know something about it’.
‘You cannot manage what you cannot measure’.
These are two often-quoted statements that demonstrate why measurement is important. Yet it is
Surprising that organisations find the area of measurement so difficult to manage.
In the cycle of never-ending improvement, performance measurement plays an important role in:
• Identifying and tracking progress against organisational goals
• Identifying opportunities for improvement
• Comparing performance against both internal and external standards
Reviewing the performance of an organisation is also an important step when formulating the direction of the strategic activities. It is important to know where the strengths and weaknesses of the organisation lie, and as part of the ‘Plan –Do – Check – Act’ cycle, measurement plays a key role in quality and productivity improvement activities. The main reasons it is needed are:
• To ensure customer requirements have been met
• To be able to set sensible objectives and comply with them
• To provide standards for establishing comparisons
• To provide visibility and a “scoreboard” for people to monitor their own performance level
• To highlight quality problems and determine areas for priority attention
• To provide feedback for driving the improvement effort
1. To review work related behavior.
2. To help career improvement.
3. To improve the organizational as well as employees performance.
4. To follow up and guide employees for perform the better.
To ensure that your assets in the form of human resources grow.
Measure is organic in nature and is the base for the health prospects of the organization and actually managing the same is inorganic or sometimes can be exponential in nature and so has to be dealt with useful pieces of information that can enable the organization to raise the level of adaptability of the situations for the next level of excellence. So simple measures with ample management is growth mantra for the organizations.
We need to measure and manage performance to ensure performance standards are being met, and to determine if basic operations are functioning properly and are sustainable.
