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what is KPI?
Our Key Performance Indicators help us to measure our progress against each element of our strategy
Measures that matter across industries
1. Banking
Customer retention
Customer penetration
Asset quality
Capital adequacy
Assets under management
Loan loss
2. Petroleum
Capital expenditure
Exploration success rate
Refinery utilisation
Refinery capacity
Volume of proven and probable
reserves
Reserve replacement costs
3. Retail
Capital expenditure
Store portfolio changes
Expected return on new stores
Customer satisfaction
Same store/like-for-like sales
Sales per square foot/metre
Customer retention Capital
Customer penetration
Asset quality
Capital adequacy
Assets under management
Loan loss
KPI on the very basic skeleton can be listed in the following areas:
1 - Financial KPIs: Payments cleared as per agreed aging slots, Collection took place as per contracts, Periodic financial reports issued on time, monthly closing took place at the end of each month.
2 - SCM KPIs: Delivery on time, Minimum Inventory threshold, POs placed in respect to suppliers lead time.
3 - HR KPIs: Employee turnover level, Training plan executed, annual360 evaluation, Clear HR policy in place, attendance discipline analysis.
4 - QHSE KPIs: Process and Procedure revisions and updates, internal and external audit plans, compliance rate and corrective action plans, Quality standards, Maintenance and Safety plans.
Depending on the business, the minimum is zero... :-)
The KPI's are really helpful to give a snapshot of your business performance, but to fully manage my business I prefer scorecards that provice me much more information on all business levels.
Almost everyone said well but I am more satisfied with Sachin Sood, in a construction project I believe there should be at least three
KPI = Key performance indicators, am I right?
KPI I beleive is for the required job it varies from job to job. For sales person lets say Number of new customers will be one of the KPI, For Hr it will be different so it depends upon the changing business enviornment and for different departments it will be different.
In short as per PMBOK there are3 key areas
1.scope base line
2. Schedule base line
3. Cost base line
These three put together called Performance baseline which mainly decide the KPI of a ProjectEngineer.
If you little detail
The kwy performance indicators for EPC projects is for a Project engineer
1.FEED preparation and submission.
- quality of the package as well as schedule for its preparation
2. Deatil Engineering Package
3. Procurement plan and execution
4.Construction schedule and cost
5.Project close out duration.
Generic Business1 KPI ROCE