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Monitoring Organizational Performance - Metrics

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Considering the importance of metrics for monitoring organizational performance:
a). What are the different categories of metrics useful for managing technology-related projects?
b). Who should be involved in the development of metrics within an organization?
c). How should sources of data (i.e. input to the metrics) be identified and verified?
d). How should resulting performance data be disseminated and utilized throughout the organization?

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This solution talks about the importance of metrics in monitoring organizational performance.. It also explores the role of different types of metrics that would be useful for managing technology related products.

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DIFFERENT CATEGORIES OF METRICS USEFUL FOR MANAGING TECHNOLOGY RELATED PROJECTS
1. There is a category of financial metrics, which are related to the budget.
2. There is a category of time related metrics that are related to the different tasks being completed on time.
3. There is a category of specification related metrics that are based on the specifications given for different parts of the project.
4. There is a category of technology related metrics related to flexibility of the technology.
5. There is a category of metrics related to the user defined level being supported by the project.
6. There is a category of metrics related to laboratory technology research.
7. There is a category of metrics related to security management.

THE PERSONS WHO SHOULD BE INVOLVED IN DEVELOPING METRICS IN THE ORGANIZATION
1. Metrics that are developed for measuring individual performance evaluation should be developed jointly by the person being evaluated and his supervisor.
2. Metrics that are developed for measuring the financial performance of the organization are jointly developed by the chief financial officer and chief executive officer. Once the metrics are developed, they are frozen and a set of metrics remains with the chief executive officer.
3. Metrics related to the operations ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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