At FMA, we believe many organizations can dramatically improve their performance management program through effective implementation of common sense solutions. While some organizations lack a specific performance management platform, others who maintain some level of a performance scorecard process, fail to apply the system to the most important gaps within their program.
Our management team works in collaboration with our clients to engineer a performance management system that ties specific metrics to the desired organizational outcomes. Well-implemented strategic planning process provides the vision, direction and goals for the organization, however must be tied to specific performance metrics, or key performance indicators, in order to facilitate the desired results. As Jack Welch accurately noted, “An organization’s ability to learn, and translate that learning into action rapidly, is the ultimate competitive advantage.”
The performance measurement process attempts to measure various aspects of performance to determine where improvement is needed. Performance measurement tools provide a window into how every element of your business is functioning in an effort to meet both internal and customer specific objectives. Essentially, key performance indicators, or performance measurements, fall into two specific categories, lagging or leading. Lagging measurements provide analysis of past performance whereas leading serves to both evaluate and define future performance.
Key Components of FMA's Performance Management Strategy
For KPIs to be successful, there needs to be a system for tracking, communicating, and improving performance. If data is collected but aren’t properly communicated to the appropriate audience, efforts will not be successful. Though many organizations claim to have balanced scorecards, far too few of them produce the desired results. We believe this often occurs because a top-level scorecard is created, however it is not cascaded down into the organization - as a result, the scorecard has little impact on the way work is performed.
At FMA, in an effort to increase accountability we work in collaboration with the client to develop well-defined scorecards for periodic reporting to highlight performance for leading and lagging indicators in a simple and highly visible manner. Periodic, short-term assessments provide a snapshot of progress to goal during specific cycles of the performance management process.
Data is leveraged to improve performance, and is followed by long-term scorecard assessments to validate overall cost, quality, schedule, and delivery performance. We believe this helps foster an environment for increased accountability and awareness, while laying the foundation for continuous improvement.
Our Performance Management platform incorporates the following solutions:
Specific Benefits Include:
To learn more, access our calendar and request a meeting or schedule a free phone consult to briefly review our capabilities and how they might align with your core business needs: