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balancescorecard and performance measurement system

balancescorecard and performance measurement system

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Published by karan_tiff

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Published by: karan_tiff on May 15, 2010
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11/02/2010

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Submitted to, Submitted by,Mr. Sachin Kashyap Karan WadheraRT1803A16(roll no.)10808494(regt. no.)
 
Introduction to the Balanced Scorecard andPerformance Measurement Systems
What is Performance Management?
There are a wide range of definitions for performance objective, performance goal, performance measure, performance measurement, and performance management. To frame the dialog and to move forward with acommon baseline, certain key concepts need to be clearly defined andunderstood, such as:
 Performance objective:
This is a critical success factor in achieving theorganization’s mission, vision, and strategy, which if not achieved wouldlikely result in a significant decrease in customer satisfaction, system performance, employee satisfaction or retention, or effective financialmanagement.
 Performance goal:
A target level of activity expressed as a tangiblemeasure, against which actual achievement can be compared.
 Performance measure:
A quantitative or qualitative characterization of  performance.
 Performance measurement:
A process of assessing progress towardachieving predetermined goals, including information on the efficiency withwhich resources are transformed into goods and services (outputs), thequality of those outputs (how well they are delivered to clients and theextent to which clients are satisfied) and outcomes (the results of a programactivity compared to its intended purpose), and the effectiveness of government operations in terms of their specific contributions to programobjectives.
 
 Performance management:
The use of performance measurementinformation to effect positive change in organizational culture, systems and processes, by helping to set agreed-upon performance goals, allocating and prioritizing resources, informing managers to either confirm or changecurrent policy or program directions to meet those goals, and sharing resultsof performance in pursuing those goals.
Output measure:
A calculation or recording of activity or effort that can beexpressed in a quantitative or qualitative manner.
Outcome measure:
An assessment of the results of a program compared toits intended purpose.
Performance Management System Goals
A leading-edge organization seeks to create an efficient and effective performance management system to:
Translate agency vision into clear measurable outcomes that definesuccess, and that are shared throughout the agency and with customersand stakeholders;
Provide a tool for assessing, managing, and improving the overallhealth and success of business systems;
Continue to shift from prescriptive, audit- and compliance-basedoversight to an ongoing, forward-looking strategic partnershipinvolving agency headquarters and field components;
Include measures of quality, cost, speed, customer service, andemployee alignment, motivation, and skills to provide an in-depth, predictive performance management system; and

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