Performance metrics are defined as figures and data representative of an organization’s actions, abilities, and overall quality. There are many different forms of performance metrics, including sales, profit, return on investment, customer happiness, customer reviews, personal reviews, overall quality, and reputation in a marketplace. Performance metrics can vary considerably when viewed through different industries. Show
Performance metrics are integral to an organization's success. It's important that organizations select their chief performance metrics and focus on these areas because these metrics help guide and gauge an organization’s success. Key success factors are only useful if they are acknowledged and tracked. Business measurements must also be carefully managed to make sure that they give right answers, and that the right questions are being asked. Traditionally, businesses have viewed the following financial measurements as indicators of success:
Non-financial measurements are also useful to help assess, report, and drive success. Most notably, the Malcolm Baldrige National Quality Award's Criteria for Performance Excellence non-financial success metrics include: Organizations across most industries rely on these indicators as well as:
Organizations may define their own indicators of performance in key areas. Such metrics are often useful because they reduce complex measurements and results to a single value that can be tracked, managed, and improved. These “shortcuts” can be misleading, however, when used either for process improvement or for other feedback such as promotion, recognition, or compensation. What is Metrology?Metrology, or measurement science, contributes to business measurements as well as to more traditional engineering and scientific measurements. The field of metrology has developed and fielded an approach—known as measurement assurance—that is analogous to product assurance in manufacturing. Measurement assurance uses management and statistical techniques to:
Performance Measurement NecessitiesThe following performance measurement necessities are the same whether you’re measuring business, service, process, or laboratory variables. Together, they constitute a measurement plan.
Performance Metrics ResourcesYou can also search articles, case studies, and publications for metrics resources. Related TopicsArticles and Case StudiesDriving Higher Workplace Performance: Using Analytics, Dashboard Metrics, and Soft Skills to Improve Results (PDF) When assigned the task of improving warehouse performance for a Western Canadian industrial distribution center, a Lean Six Sigma Black Belt discovered the differences between "human" and "automated" business processes. Statistics Roundtable: Metrics for Uncertainty (Quality Progress) A look at probability, evidence, and a seldom-used additive metric. Measure for Measure: By Their Measures Shall Ye Know Them (Quality Progress) Measurements are so commonplace and universal they sometimes seem to be part of the air. They’re so usual, they’re not noticed. Still, they play a profound role in our lives and the way we behave. The Education of a Metrologist (Quality Progress) Metrology is an interesting, detailed, and vast profession that allows members to focus on many different elements. Learn more about finding your way in this field with specific courses and training options from today’s top schools. Measures of Software System Difficulty (Software Quality Professional) Predicting and monitoring quality early in the software development life cycle can help provide initial estimates of software product quality. Excerpted from "Effective Measurement of Business Performance," ASQ Annual Quality Congress proceedings and Actionable Performance Measurement: A Key to Success, ASQ Quality Press. Which of the following elements are the most essential to develop an information security strategy?Which of the following elements is MOST important when developing an information security strategy? Information security policy development should PRIMARILY be based on: threats.
Which of the following would be the best indicator of effective information security governance within an organization?Answer : Compliance with the organization's information security requirements.
Which of the following is the most important consideration when developing information security objectives?Effectively managing information risk to acceptable levels (in alignment with the business objectives) is the most important overall consideration of an information security strategy.
Which of the following steps should be first in developing an information security plan?9 Steps on Implementing an Information Security Program. Step 1: Build an Information Security Team. ... . Step 2: Inventory and Manage Assets. ... . Step 3: Assess Risk. ... . Step 4: Manage Risk. ... . Step 5: Develop an Incident Management and Disaster Recovery Plan. ... . Step 6: Inventory and Manage Third Parties. ... . Step 7: Apply Security Controls.. |