| When you start trawling through all the lists of | | | | that's what KPIs are for: to give you feedback |
| KPIs (or performance measures, which is the | | | | about the results that matter. |
| term I prefer to use) that are lurking on the | | | | Tip 3: List potential measures first, then evaluate |
| internet, you'll see just how many performance | | | | to select the best. |
| measures there are. Thousands. Even within just | | | | It will be faster and easier if you list a dozen or |
| one industry. | | | | so potential measures for each important business |
| And many of these so-called performance | | | | result that is worth measuring. So trawl through |
| measures aren't in fact measures at all. A | | | | the KPI master lists quickly, just to pull out this |
| performance measure is evidence of the degree | | | | first list of potential measures. After that, |
| to which you are achieving an important result, | | | | evaluate the potentials, and decide which measure |
| over time. And that brings us to the first tip for | | | | (or two) will give the best evidence of your |
| making the best use of KPI master lists: | | | | business results. |
| Tip 1: Know how to recognise a real performance | | | | Tip 4: Be prepared to tailor the measures to your |
| measure from a fake. | | | | business. |
| "Existence of Business Plans" is not a | | | | The vast majority of KPI master lists will offer |
| performance measure. It's the result of an action. | | | | you nothing more than a measure name, and if |
| "Employee Survey" is not a | | | | you're lucky, a short sentence describing what it |
| performance measure. It's a data collection | | | | means. That's just not enough for you to |
| instrument. "Monthly Average Delivery Cycle | | | | successfully implement the measure in your |
| Time" is a performance measure, because it | | | | business. So be prepared to flesh out each |
| gives feedback of a result, over time. You'll need | | | | measure in more detail, right down to the data |
| to be wise enough to pick out the real measures | | | | you'll use to compute it. |
| from the fakes. | | | | Tip 5: Don't fit a square peg to a round hole. |
| Tip 2: Before you even go looking for KPIs, | | | | It's entirely likely that your business or |
| clearly define your priority business results. | | | | organisation is unique is some way. And that |
| To avoid swamping yourself with way too many | | | | means that the complete set of performance |
| trivial and irrelevant measures, you need to fish | | | | measures it needs won't be out there in someone |
| these KPI master lists with a net designed to | | | | else's KPI master list. You'll have some results for |
| catch just the types of measures you need. And | | | | which you'll just have to design your own |
| that net is made from the business results that | | | | measures, from scratch. |
| are your highest priority to achieve. After all, | | | | |