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Lifecycle Lifecycle Performance Performance Professionals Professionals and relationships, for example. Closely related to terms such as intellectual capital and intangible assets. Some experts suggest that as much as 75 percent of an organization’s value is attributable to human capital. Index KPIs: Index KPIs are an index of multiple KPIs. Often times these KPIs might actually be measured in completely different units and an index KPI normalizes the underlying KPIs to provide a single score. Sometimes used in the public sector, an example might be a Health Index, which is composed of multiple health related KPIs. The information supply chain (ISC): The full set of elements, technologybased, process-specific and organizational in nature, which is necessary to collect information from discrete processes, transform this information from data into knowledge, and deliver the right data to the right stakeholders in the right way and at the right time. Initiatives: The lifeblood of an organization’s operations, initiatives organize people and resources and dictate which activities are required to accomplish a specific goal by a particular date; initiatives provide the how while goals provide the what. As differentiated from projects, initiatives directly support an organization’s strategic goals; projects may or may not have strategic impact. Examples: Supporting the objective “Ensure 100% in-stock merchandise” might be initiatives such as “Upgrade of inventory management software to include demand chain and “Migration to store-specific assortment plans from uniform assortments.” Initiative management solutions help ensure that activities are aligned with goals, increase coordination of resources, and allow prioritization based on importance, not just urgency. Inputs: Commonly used within the Logic Model to describe the resources an organization invests in a program, such as time, people (staff, volunteers), money, materials, equipment, partnerships, research base, and technology, among other things. Initiatives - The specific programs, activities, projects or actions an organization will undertake in an effort to meet performance targets. Internal Process Perspective - One of the four standard perspectives used with the Balanced Scorecard. Measures in this perspective are used to monitor the effectiveness of key processes the organization must excel at in order to continue adding value for customers, and ultimately, shareholders. IT performance management: A brand of performance management that assists organizations with the increasing demands of maximizing value creation from technology investments; reducing risk from IT; decreasing architectural complexity; and optimizing overall technology expenditures. © 2009 Lifecycle-performance-pros.com All rights reserved 66
Lifecycle Lifecycle Performance Performance Professionals Professionals Other types of performance management include operational performance management and business performance management. Key outcome indicator (KOI): Often used in the public sector to describe key performance indicators, those metrics most critical to gauging progress toward objectives. KOIs are metrics that are: tied to an objective; have at least one defined time-sensitive target value; and have explicit thresholds which grade the gap between the actual value and the target. Key performance indicator (KPI): Distinguished from other metrics, key performance indicators (KPIs) are those metrics most critical to gauging progress toward objectives. KPIs are metrics that are: tied to an objective; have at least one defined time-sensitive target value; and have explicit thresholds which grade the gap between the actual value and the target. KPI/KOI Scorecard: A specific application of a scorecard, a KPI/KOI scorecard is used to measure progress toward a given set of KPIs or KOIs. Lagging indicator: Backward-looking performance indicators that represent the results of previous actions. Characterizing historical performance, lagging indicators frequently focus on results at the end of a time period; e.g., thirdquarter sales. A balanced scorecard should contain a mix of lagging and leading indicators. Leading indicator: Forward-looking in nature, leading indicators are the drivers of future performance. Improved performance in a leading indicator is assumed to drive better performance in a lagging indicator. For example, spending more time with valued customers (a leading indicator) is hypothesized to drive improvements in customer satisfaction (a lagging indicator). “Letter grade” rating system: A threshold rating system in which letter grades of A/B/C/D/F are used to describe and/or depict performance (usually based on the gap between the target and actual) in easily understandable terms. Lifecycle Performance Management: Lifecycle Performance Management is the systematic implementation of an enterprise-wide performance strategy involving all business units, systems and personnel. It is a sequence of management processes, when combined, achieves a complete approach to managing performance from start to finish. Lifecycle Performance Management focuses on all areas that determine the success of an enterprise, including: Employees, Departments / Divisions, Processes, Programs (e.g. implementing organizational policies), Products / Services, Projects, Business Units / Teams. © 2009 Lifecycle-performance-pros.com All rights reserved 67
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