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.
This Statistical Process Control Chart x bar and r chart example describes an effective way to create a high-level performance tracking system that includes a process capability report-out in one report-out. The described 30,000-foot-level reporting first assesses process stability from a high-level vantage point and then if the process is stable provides a capability statement, using terminology …
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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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The following predictive key performance indicators examples illustrate the conversion of traditional KPI historical reporting to a predictive performance measurement report-out. The links below describe the details of converting dashboards that organizations are currently using to predictive performance reporting.
An enhancement to key performance indicators balanced scorecard reporting is provided through the Integrated Enterprise Excellence (IEE) business management system. Key Performance Indicators (KPIs) with organizational balance is enhanced for KPIs through an enhanced business management system’s value chain. Key Performance Indicators Balanced Scorecard: KPI Selection A key performance indicator (KPI) is a type of …
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An enhanced balanced scorecard performance measurement system is provided through the Integrated Enterprise Excellence (IEE) business management system. This balanced scorecard performance measurement system provides predictive scorecard methodology that offers additional management insight for improvements. Balanced Scorecard Performance Measurement System Enhancements The balanced scorecard is a strategic planning and management system that aligns business activities …
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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.
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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An individuals chart that can provide a process capability statement too is a 30,000-foot-level metric report-out. At the enterprise level, 30,000-foot-level report-outs can be used in an Integrated Enterprise Excellence (IEE) Business Management System.
Traditional p chart control limits formula calculations can lead to firefighting common cause variation as though it were special cause. This “false signal” issue can occur when common-cause process variation occurs between subgroups.