Many forms of measurement on Quality, Time and Costs are all around us at work and outside of work; mostly with the purpose of providing decision support information. In the workplace, we are looking to turn data into meaningful information to do our jobs well and have our organizations do well.
While this sounds fairly simple to do, the reality is that there are significant obstacles to achieving this related to data integrity, calculation methods and proper selection of metrics and trending analysis. Too often, wrong conclusions are made, based on inaccurate information or looking at the wrong information. Worse, poor selection of metrics to track and review, likely will drive unintended negative consequences within a company, such as focusing on improving a particular metric at the expense of the overall company health, success and achieving its strategic goals.
This presentation covers the difference between metrics and KPIs (Key Performance Indicators); who reports a metric vs. who can influence it; and provides practical, straightforward, keys to success in defining and making good use of metrics and KPIs.