Performance measures and business scorecards are to lead to the most appropriate activities or non-activities. However, traditional report-outs such as a table of number, red-yellow-green scorecards, and pie charts can lead to very unhealthy, if not destructive, behaviors. Traditional business scorecards and business dashboards do not view metrics as the result of processes. Most conventional Key Performance Indicator (KPI) and other performance reports do not include process variability.
The short comings of traditional performance measures and business scorecards is overcome with an Integrated Enterprise Excellence (IEE) approach to organizational performance measurements and improvements. In IEE, a 30,000-foot-level operational metric report-out assess process stability from a high-level point of view. With his form of performance report-outs, when a process is stable a prediction statement can be made.
Traditional performance metrics reporting can lead to much organizational waste, costly firefighting, and frustration. The methodology below (with provided no-charge creation app) can be considered a “best way” to overcome these problems.
When developing business performance metrics, focus should be given to creating measurements that give insight for making the most appropriate decision, whether that is to take action or leave things as they current are. Developing performance metrics should involve the creation of an entity that is measurable, sustainable, auditable, and consistent. Reliable and effective performance
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An enhanced performance dashboard template is available through the Integrated Enterprise Excellence (IEE) Business Management System. The IEE 30,000-foot-level reporting process provides predictive analytics for the creation performance dashboards.
An enhanced performance metrics template for scorecard reporting is available through the Integrated Enterprise Excellence (IEE) Business Management System. With the IEE system, predictive analytic performance metrics are integrated with the processes that created them through an IEE value chain.
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Organizations benefit from scorecard template procedure predictive scorecards, which provides additional insight for improved decision making. This balanced organizational scorecard template provides a procedure for creating predictive statements for performance scorecards. The described approach addresses the shortcomings of many traditional performance metrics report-outs. Shortcomings of Traditional Scorecard and Performance Reporting Traditional metric reporting often has
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A performance measurement system that creates and manages key performance indicators (KPIs) needs to be management’s eyes to the process. It needs to stimulate the most appropriate behavior. Successful performance measures contain a naturally balanced organizational set of measurements which provides an unbiased process performance assessment that leads to the 3 Rs of business; i.e.,
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Red-yellow-green scorecards or stoplight scorecards, which assess functional performance relative to established goals, can lead to firefighting and not the best behavior.
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.
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An enhanced predictive analytics performance management methodology is provided in the Integrated Enterprise Excellence (IEE) Business Management System.
An enhanced predictive reporting analytics framework can be created through the Integrated Enterprise Excellence (IEE) Business Management System.
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