The key to Key Performance Indicators (KPIs)
Back when we were students, how did we know whether we were doing well or not? Through progress books or report cards, we as well as our parents could learn about our performance and identify areas for improvement. The same idea applies to business performance measurement.
Performance measures exist to help companies realise the effectiveness of their strategies and actions. However, sad as it is, “many companies are working with the wrong measures, many of which are incorrectly termed key performance indicators (KPIs). Few organisations really monitor their true KPIs as they have not defined what a KPI actually is” (David Parmenter, CGMA Magazine, 2012). Perhaps this is due to a lack of awareness and guidance.
This white paper, therefore, seeks to equip concerned businesses with necessary knowledge so as to make the most of performance measures. Common misperceptions, advice to develop and report KPIs will be addressed. Download whitepaper "The key to Key Performance Indicators (KPIs) to understand:
- Why we measure performance and caution points
- Key Performance Indicators: What they are and are not
- The guide to designing KPIs
- Evaluating and reporting KPIs