Can you explain what quantifiable measures means? I need as much information that you can possibly provide.
This is pertaining to a household budget.© BrainMass Inc. brainmass.com September 24, 2018, 11:29 pm ad1c9bdddf - https://brainmass.com/business/international-business-management/47380
Please see response attached (and also below), as well as one relevant and supporting document. I hope this helps and take care.
1. Can you explain what are quantifiable measures? I need as much information that you can possibly give. This is pertaining to a household budget.
Quantifiable actually means that measures are capable of being quantified. This does not allow for an easy definition to understand, so instead let's look at some general performance indicators that are quantifiable measurements (i.e., meaning that they can be measured and thus counted). Then, we will look at specific examples of household budget surveys, which provide quantifiable measures through the questions asked on the survey. They are quantifiable in the sense that some quality can be measured, such as the total number in dollars spent on food consumption per month. In one study mentioned below: A household budget may have as one it its key performance indicators the total annual consumption, expenditures and incomes of each household by combining the factual observation of food consumption (and some other frequent expenses) (data collection was through the participants keeping diaries of their food consumption and frequent expenses) or the number of purchases of other items by recall, with reference periods ranging from 3 to 12 months (i.e., will also be collected).
GENERAL EXAMPLE 1:
For example, Key Performance Indicators are quantifiable measurements, agreed to beforehand, that reflect the critical success factors of an organization. They will differ depending on the organization. Four examples of Key Performance Indicators that are quantifiable measurements are as follows:
1. A business may have as one of its Key Performance Indicators the percentage of its income that comes from return customers.
2. A school may focus its Key Performance Indicators on graduation rates of its students.
3. A Customer Service Department may have as one of its Key Performance Indicators, in line with overall company KPIs, percentage of customer calls answered in the first minute.
4. A Key Performance Indicators for a social service organization might be number of clients assisted during the year. (Source: http://management.about.com/cs/generalmanagement/a/keyperfindic.htm).
They are quantifiable in the sense that some quality can be measured. In the first example above, we would measure the percentage that comes from return customers; in the second, we would measure the graduation rates of its student as one measure of successful performance; the third, we would measure the percentage of customer calls answered in the first minute; the fourth we would measure the number of clients assisted during the year.
HOUSEHOLD BUDGET EXAMPLE 2:
Is it getting a bit clearer? I hope it is. Now let's look at some indicators of household budget that are considered quantifiable measurements.
1. A household budget may have as one it its key performance indicators the total number in dollars spent on food consumption per month.
2. A household budget may have as one it its key performance indicators the total number of dollars spent on rent expenditures paid per month.
3. A household budget may have as one it its key performance indicators the total number of dollars spent on both food consumption and rent expenditures per month.
4. A household budget may have as one it its key performance indicators the total dollars spent on a specific food consumption (i.e., rice) per month.
EXAMPLE 3: Household Budget Survey in Kenya
Source: http://www.cbs.go.ke/Minister_KIHBS.html printed below with quantifiable measures highlighted in red (see attached response) in the speech and expanded on at the end of the speech:
Speech delivered by Hon. Prof. Peter Anyang' Nyong'o, the Minister for Planning and National Development, on the occasion of launch of the Kenya Integrated Household Budget Survey 2005/06 on Tuesday May 10th 2005 in Kenyatta International Conference Centre at 9.30 a.m.
Development Partners and Members of the Diplomatic Corps
Steering Committee of the National Statistical System
Members of the Fourth Estate
Ladies and Gentlemen:
It is my great pleasure to be here today to launch the Kenya Integrated Household Budget Survey (KIHBS).
This survey has taken great collaborative effort between the Central Bureau of Statistics and stakeholders represented here today.
KIHBS is one of the key Surveys using an integrated approach, which allows for compilation of key monitoring indicators and data that is useful for evaluation of important programmes and policies. Indeed it is one of key household based surveys identified in the CBS Strategy Plan.
Let me also note from the very onset that the results of this survey will be a key milestone in the Governments effort to address key issues such as poverty, unemployment, health, investment in infrastructure, school feeding programmes, and pension and health insurance coverage, among other areas. As such this survey is intended to further the Government's commitment to the principle of evidence-based decision-making in Kenya, which sets the agenda for the need for improved statistics to inform the design, implementation and eventual evaluation of various development programmes for economic recovery and national development.
Ladies and Gentlemen
The 2004/05 Kenya Integrated Household Budget Survey is designed to provide indicators necessary for:
1. Measuring, monitoring and analyzing living standards and poverty in Kenya.
2. The survey will provide necessary information for updating the urban CPI and establishing the rural one, Measuring and monitoring poverty and living standards
3. Compiling national accounts statistics ...
This solution explains the meaning of quantifiable measures. Several illustrative examples of household budgets clearly illustrate the quantitative indicators specific to household budgets.