The organization that you work for has been thinking about implementing one of the items below and they have asked you to prepare a summary of these topics:
Economic Value Added
Performance measure in an organization is an organization offers an effective method to determine whether or not an organziation is meeting its goals and achieving its mission.
The Benefits of Performance Measurement
1. Performance measurement enhances decision making. The process of developing performance measures allows an organization to determine its mission, set goals for desired results, and identify methods of measuring how well the results are achieved. The data generated through performance measurement can be utilized in determining program effectiveness, in evaluating options for service delivery, and in charting long-term programs and fiscal plans. For boards of directors, performance measures can focus attention on outcomes, and can allow for solid evaluation techniques.
2. Performance measurement improves internal accountability. Measuring performance gives decision makers a significant tool to achieve accountability. Employees at all levels are accountable to upper level managers for their performance or that of their crew, and upper level managers are accountable to executives. This relationship becomes much more clear when outcomes and outputs are measured by a commonly accepted standard. Systems such as ...
Discuss the role of performance measures in an organization.