Performance Measurements

Organizations often use a performance metrics system that only provides point to point comparisons. For example, the currently monthly profitability of a business might be compared to last month. Any movement that is not desirable often leads to a search for what happened.

This what-happened investigation can result in the treatment of common cause variability as though it were special cause. Wasteful firefighting often is a result of traditional metric report-outs and nothing positive happens relative to making a metric improve over time.

A 30,000-foot-level predictive reporting methodology addresses this traditional metric reporting format shortcoming. With 30,000-foot-level metric reporting, a predictive statement assessment is made. If a process output performance is stable and the futuristic response is undesirable, this metric desirable shortcoming pulls for the creation of a process improvement effort that enhances the measurement’s response.

Enterprise Performance Reporting System (EPRS) software provides a means to easily create 30,000-foot-level report outs. A statistical shift in the time-series portion of a 30,000-foot-level metric is an indicator that the process output changed, either to the betterment or degradation. When this happens a new predictive process statement can then be made using this software.

Next Generation Business Performance Management and Improvement

Business Scorecards, Performance Measurements /

At the end of business quarters, many people spend precious time and effort preparing to satisfy managment’s need to know how the business is faring. Executives may receive a large deck of PowerPoint slides or a huge Excel file that tries to summarize their organization’s performance. After weeks of collecting this data, the compilation often contains outdated information, can be difficult to interpret and does not present informtion in a format so that the most appropriate action or non-action will be taken. This article advocates the converting of data so that predictive statements can be made and executives can fully understand the data.

Next Generation Business Performance Management and Improvement Read More »

How to use Leading and Lagging Indicators for Predictive Statements

30000-foot-level Predictive Metrics, Performance Measurements /

How to use leading and lagging indicators to provide futuristic insight should be an organizational desire.  However, if one were to read the results from a Google search on the topic, the conclusion that would probably be made is that a measurement is either a leading indicator or a lagging indicator and much cannot be

How to use Leading and Lagging Indicators for Predictive Statements Read More »

Creation of a Predictive Analytics Scorecard: Description and Webinar

30000-foot-level Predictive Metrics, Performance Measurements /

Forrest takes traditional performance metrics and transforms them in to predictive measures that suggest business actions or non-actions. Look at the transformation of the following: – Table of numbers business performance metrics reporting – Red-yellow-green scorecard business performance metrics – Time series business performance measurement dashboard See how the change to a futuristic view can transform your organization!

Creation of a Predictive Analytics Scorecard: Description and Webinar Read More »

Managing for Quality and Performance Excellence Examples

Business Scorecards, Performance Measurements /

A performance management best practice is the use of predictive KPI dashboard reporting. The six examples in this article illustrate the benefit of this performance management best practice approach for predictive KPI dashboard reporting. Learn how to benefit your business from this structured approach to reporting of performance measurements.

Managing for Quality and Performance Excellence Examples Read More »

Performance Management System Metrics Examples

Business Scorecards, Performance Measurements /

The initial performance management system metrics examples that will be shown will reference the application of a dashboard reporting methodology that transitions the following historic management reports to predictive performance reporting; i.e., numbers in a table, stoplight scorecards, and time-series plots. Next will be describe is a situation where a table of numbers for process

Performance Management System Metrics Examples Read More »

How to Create Predictive Performance Metrics Examples

2 Comments / Business Scorecards, Performance Measurements /

Answering the question “how to create predictive performance metrics″ provides much benefit to a business. When there are good predictive performance metrics throughout a business, organizations are able to determine where to focus improvement efforts so that they can optimize their overall enterprise financial benefit. One estimate for the benefits from this enhanced metrics approach

How to Create Predictive Performance Metrics Examples Read More »