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4 - PRIMARY Keyword matches for ARTICLE
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Putting It All Together - The KPI Wheel
In order to help with this requirements interview process, BrightPoint Consulting has created a tool called the KPI Wheel. The interview process is very rarely a structured linear conversation, and more often is an organic free-flowing exchange of ideas and questions. The KPI Wheel allows us to have a naturally flowing conversation with the end-user while at the same time keeping us focused on the goal of gathering specific requirements.
The KPI Wheel is tool that can be used to collect all the specific information that will go into defining and visualizing a metric or KPI. We will use this tool to collect the following information:
1. The business question that we are trying to help the user answer.
2. Which business users this question would apply to.
3. Why the question is important.
4. Where data resides to answer this question.
5. What further questions this metric or KPI could raise.
6. What actions or decisions could be taken with this information.
7. The specific measure, dimension, grain and target of the metric or KPI.
See http://www.brightpointinc.com/KPIWheel.asp (Requires Active X)
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Decision Support Systems (DSS) are a class of computerized information systems that support decision-making activities. DSS are interactive computer-based systems and subsystems intended to help decision makers use communications technologies, data, documents, knowledge and/or models to complete decision process tasks. Five more specific Decision Support System types include:
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Show me a company that thinks it is using KPIs, which are measured monthly and quarterly, and I will show you measures that do not create change, alignment and growth and have never been KPIs.
Many companies are working with the wrong measures, many of which are incorrectly termed "key performance indicators" (KPIs). Companies with 20 or more KPIs lack both focus and alignment, and are underachieving. From my research, very few organisations really monitor their true KPIs. The reason is very few organisations, business leaders, writers, accountants, and consultants have explored what a KPI actually is. This article is part of a series that will shed some light into this important area, help reveal what a KPI is, and point to where to look for KPIs in your organisation.
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The six characteristics of KPIs
Key Performance Indicators represent a set of measures focusing on those aspects of organisational performance that are the most critical for the current and future success of the organisation. They have certain characteristics.
KPI characteristics include
* Measured frequently e.g. daily or 24/7 (KPIs are not measured monthly)
* Acted upon by the CEO and the senior management team on a daily or 24/7 basis
* All staff understand the measure and what corrective action is required
* Responsibility can be tied down to the individual or team
* The KPI has a significant impact on the organisation e.g. it impacts most of the core critical success factors and balanced scorecard perspectives
* Positive movement affects all other performance measures in a positive way
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Key Result Indicators (KRIs)
The measures commonly mislabelled as KPIs are return on capital employed, customer satisfaction and employee satisfaction. These measures have never been KPIs. They are something different, called "key result indicators."
KRIs (measures that have often been mistaken for KPIs) include:
* Customer satisfaction
* Net profit before tax
* Profitability of customers
* Employee satisfaction
* Return on capital employed
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Performance Indicators (PIs)
In between key result indicators and true KPIs are numerous performance indicators. These complement the KPIs and are shown with them on the organisation’s, divisions’, departments’ and teams’ scorecards.
PIs could include:
* profitability of the top 10% of customers
* net profit on key product lines
* % increase in sales with top 10% of customers
* # of employees participating in the suggestion scheme
* duration of the cash to cash cycle
The common characteristic of these measures is that they are the result of many actions. They give a clear picture of whether you are travelling in the right direction. They do not, however, tell you what you need to do to improve these results.
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Another important consideration in the development of KPIs is the selection of the appropriate measurement family to capture operational performance over time and then relate these KPIs to internal business and external industry benchmarks. Although the following list reflects common measurement families, different industries will have their own specific business drivers and related measures.
Productivity: Measures employee output (units/ transactions/dollars), the uptime levels and how employees use their time (sales-to-assets ratio, dollar revenue from new customers, sales pipeline).
Quality: Measures the ability to meet and/or exceed the requirements and expectations of the customer (customer complaints, percent returns, DPMO -- defects per million opportunities).
Profitability: Measures the overall effectiveness of the management organization in generating profits (profit contribution by segment/customer, margin spreads).
Timeliness: Measures the point in time (day/week/ month) when management and employee tasks are completed (on-time delivery, percent of late orders).
Process Efficiency: Measures how effectively the management organization incorporates quality control, Six Sigma and best practices to streamline operational processes (yield percentage, process uptime, capacity utilization).
Cycle Time: Measures the duration of time (hours/days/months) required by employees to complete tasks (processing time, time to service customer).
Resource Utilization: Measures how effectively the management organization leverages existing business resources such as assets, bricks and mortar, investments (sales per total assets, sales per channel, win rate).
Cost Savings: Measures how successfully the management organization achieves economies of scale and scope of work with its people, staff and practices to control operational and overhead costs (cost per unit, inventory turns, cost of goods).
Growth: Measures the ability of the management organization to maintain competitive economic position in the growth of the economy and industry (market share, customer acquisition/retention, account penetration).
Innovation: Measures the capability of the organization to develop new products, processes and services to penetrate new markets and customer segments (new patents, new product rollouts, R&D spend).
Technology: Measures how effectively the IT organization develops, implements and maintains information management infrastructure and applications (IT capital spending, CRM technologies implemented, Web-enabled access).
The perspectives and measurement families can now be combined to develop a KPI profile matrix (see Figure 1), which provides a construct for balancing the number and types of KPIs that are developed. The profile matrix also ensures the proper mix of financial and non-financial measures - typically a shortfall of most performance management implementations.
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3 - SECONDARY Keyword matches for BI
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Wide range of articles, newsletters and discussions about business and technology topics.
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HBX On-Demand Web Analytics from WebSideStory gives online marketers actionable insight to optimize their entire customer life cycle. HBX makes it simple to improve your marketing ROI, sales and revenue and increase customer satisfaction.
* Campaign Analytics * E-Commerce Analysis * Active Viewing Browser Plugin * Advanced Visitor Segmentation * Detailed Content Analysis * Web Site Navigation Analysis * Internal Search Tracking * Executive Dashboards * Powerful Custom Reports * Cross-Channel Integration
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The primary thesis of Value-Based Software Engineering (VBSE) is that the integration of a software system’s stakeholder value propositions into the system’s
definition, design, development, deployment, and evolution is critical to the system’s success. This white paper:
· Analyzes the sources of software project failure in the Standish Report, and shows that many of the failed projects were caught in the vise of valuei nsensitive
software engineering.
· Discusses promising research ideas for improving our capability to perform VBSE.
· Presents a roadmap for making progress toward VBSE and its resulting benefits.
The white paper concludes with a summary of the relations between VBSE and other software research and applications areas. It is unavoidably involved with software and information system product and process technology, and their interaction with human values. It is strongly empirical, but includes new concepts in need of stronger theory. It uses risk considerations to balance software discipline and flexibility, and to answer other key how much is enough?" questions. And it helps illuminate information technology policy decisions by identifying the quantitative and qualitative sources of cost and value associated with candidate decisions.
Failed Software Projects: Sources and Remedies
The CHAOS Report [Standish, ] surveyed several hundred software projects and found that only % of them were completed within their planned budget and schedule. The report analyzed the major sources of failure for the other projects, and found that eight problem sources accounted for % of the failures. Each of these sources is discussed below in terms of their relation to value-based approaches to software engineering.
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