measuring progress

One of the keys to achieving organizational and project goals is to identify progress.

Raven helps identify metrics that can be used to measure progress toward achieving organizational goals and milestones. They are indicators of the health of products, projects and processes.

Metrics can and should be used to measure such classic areas as:

  • Finances
  • Productivity
  • Project Management
  • Marketing
  • Sales
  • Operations
  • Technology
  • Personnel
  • External data

In designing an approach to measurement we focus on key performance indicators (KPIs), which are the most indicative of progress: they are the metrics that matter the most.

It's important not to select indicators simply because the data are easily acquired. On the other hand the acquisition of the data can't be so burdensome that it outweighs the value of the information that it is intended to communicate. A common tendency is to measure too many performance indicators simply because measurement is possible. Ask the question, 'Is the measurement adding value or confirming the already known?'

In identifying metrics we take care to identify an appropriate combination of leading and lagging indicators. Leading indicators (such as numbers of white paper downloads) are a predictive measurement. Leading indicators provide real-time data that help to gauge the likely early success of changes in strategy or tactics. Lagging indicators (such as information gleaned from customer satisfaction surveys) provide information on activities that already have occurred. While useful from an historical perspective they are likened to driving a car while looking in the rear view mirror.

The KPIs also must be reviewed to ensure that there aren't unintended consequences. For example, measuring the number of white paper downloads may not be as effective as measuring the number of clients who downloaded a white paper and became a client within 6 months.

An effective organizational metric program extends past the C-level: it should be deployed so that every individual in the organization is monitoring information pertinent to his or her responsibilities. This helps to align individual activities with organizational strategy and provides timely feedback on performance.

KPIs can be presented in various formats. They can be as simple as checklists or spreadsheets, or as visual as graphs, scorecards or dashboards.

Contact us to discuss how a measurement program can benefit your organization: whether we design and conduct the program for you or train the your people in monitoring.

 

 

 

 

 

 

 
 
  © 2012, Raven Business Group, LLC.