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Performance measurement. Performance measurement is the process of collecting, analyzing and/or reporting information regarding the performance of an individual, group, organization, system or component. [dubious – discuss][ 1] Definitions of performance measurement tend to be predicated upon an assumption about why the performance is being ...
Business performance management (BPM) (also known as corporate performance management (CPM) [2] enterprise performance management (EPM), [3] [4] organizational performance management, or performance management) is a management approach which encompasses a set of processes and analytical tools to ensure that an organization's activities and output are aligned with its goals.
The Supply Chain Operations Reference ( SCOR) model is a process reference model originally developed and endorsed by the Supply Chain Council, now a part of ASCM, as the cross-industry, standard diagnostic tool for supply chain management. [ 1] The SCOR model describes the business activities associated with satisfying a customer's demand ...
Benchmarking is the practice of comparing business processes and performance metrics to industry bests and best practices from other companies. Dimensions typically measured are quality, time and cost . Benchmarking is used to measure performance using a specific indicator (cost per unit of measure, productivity per unit of measure, cycle time ...
Statistical process control ( SPC) or statistical quality control ( SQC) is the application of statistical methods to monitor and control the quality of a production process. This helps to ensure that the process operates efficiently, producing more specification-conforming products with less waste scrap. SPC can be applied to any process where ...
A performance indicator or key performance indicator ( KPI) is a type of performance measurement. [ 1] KPIs evaluate the success of an organization or of a particular activity (such as projects, programs, products and other initiatives) in which it engages. [ 2] KPIs provide a focus for strategic and operational improvement, create an ...
The Capability Maturity Model ( CMM) is a development model created in 1986 after a study of data collected from organizations that contracted with the U.S. Department of Defense, who funded the research. The term "maturity" relates to the degree of formality and optimization of processes, from ad hoc practices, to formally defined steps, to ...
Strategy. A balanced scorecard is a strategy performance management tool – a well-structured report used to keep track of the execution of activities by staff and to monitor the consequences arising from these actions. [ 1] The term 'balanced scorecard' primarily refers to a performance management report used by a management team, and ...