Performance Management & Benchmarking
A successful and sustainable performance management plan requires a mix of creativity, strategy, process, systems, talent, measurement and commitment, with the latter two having the most significant impact on a valuable outcome.
With traditional boundaries for markets, competitors and sourcing blurring, measuring the organisational performance against peers has become more complex. Benchmarking best practice processes or critical business metrics can and should be measured against organisations outside of traditional industry or operational boundaries.
At The Faculty we have witnessed and supported a growing interest in procurement benchmarking in the form of a ‘Health Check’. Organisations periodically execute benchmarking activities to identify continuous improvement opportunities, assess their ‘current state’ and utilise external benchmarking and scorecard data to set a ‘future state’ target.
The Faculty continues to drive and lead the development of Performance Management and Benchmarking through the following services:
- Key Performance Indicator (KPI) Design
- Balanced Scorecard Development
- Dashboard Development
- Comparative & Trend Analysis
- Process Performance Review