Free

Preformance Measurment - Essay Example

Comments (0) Cite this document
Summary
Running Head: Performance Measurement Performance Measurement University Name Subject Name Instructor Name Performance Measurement Introduction This paper will first concisely describe three major performance measurement frameworks…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.3% of users find it useful
Preformance Measurment
Read TextPreview

Extract of sample "Preformance Measurment"

Running Head: Performance Measurement Performance Measurement Performance Measurement Introduction This paper will first concisely describe three major performance measurement frameworks. Next, there is the section of comparative analysis followed by evaluation of the importance of performance measurement within a project. The paper will culminate at a viable conclusion. Performance Measurement Frameworks Balanced Scorecard In the method of balanced scorecard, a number of fiscal and non-fiscal measures are identified and targets are attached to them. In the course of reviewing and analyzing this information, it is feasible to ascertain whether the current performance can meet expectations according to the targets set or not. Balanced scorecard deals with control activities and strategic planning. It comprises of the following four steps: 1. Translation of vision into practical operational goals 2. Communication of vision and linkage to individual professional performance 3. Index setting and business planning 4. Education, feedback, and subsequent strategic adjustment (Kaplan and Norton, 1993) Performance Prism The performance prism framework can be regarded as a second generation management and performance measurement system. It is extremely supple and viable, and it synchronizes the stakeholders’ needs with the organization’s needs. Its approach is twofold: process based and strategy based. It involves evaluation of the expectations and functions of the communities, regulators, suppliers, employees, intermediaries, customers, and investors regarding the organization in a systematic and analytical way. (Neely et al, 2002) Team Performance Measurement (TPM) Team performance measurement is a system of performance measurement that evolved towards the end of the 1990s. It is designed mainly to address the issues that are faced by team leaders, facilitators, and managers in the course of team management. It consists of seven steps: 1. Review existing organizational measures 2. Identify team measurement points 3. Identify individual results which support the team 4. Weight the results 5. Create measures for each result 6. Create performance standard 7. Create a tracking system (Zigonperf.com, n.d.; Zigon, 1999) Comparative Analysis Comparing the structures of the performance measurements discussed so far, it can be concluded that the balanced scorecard is a four-step method, the TPM is a seven-step method, and the performance prism is a highly flexible and adaptable framework with no hard and fast step wise working. Balanced scorecard mainly addresses the needs of the managers, while TPM addresses the needs of the team leaders, facilitators, and managers. But performance prism has a much wider utilization since it involves evaluation and analysis of the needs of the various stakeholders of the organization like investors, customers, suppliers, employees, intermediaries, etc. Balanced scorecard design evolved in the early 1990s, while TPM was structured in the wake of the twenty first century. However, performance prism is one of the latest performance measurements available today. Both balanced scorecard and TPM are focused on the issues that are internal to the organizations and centered on individual performance. However, performance prism covers a wide spectrum of issues and considerations that are related to both the internal and external settings of the organization. Comparing the three performance measurements, it appears to be so that the framework of performance prism is very contextual with respect to the contemporary global business environment, while balanced scorecard is still rather popular among the corporate policy makers. Importance of Performance Measurement within a Project Implementation and execution of a project can be based on a project life cycle that will help in understanding and analyzing the progress of the project through each step (Chapman and Ward, 2003). In doing so, performance measurement becomes not only an important but also an indispensable issue. First, it helps to analyze the actual performance, potential performance, and expected performance. If performance measurement is done before the completion of the project (for example, when the project is 30% or 60% complete), possible underperformance issues can be diagnosed in time and plans for subsequent damage control can be chalked out and implemented. Performance measurement will further help to identify and reward the high performance individuals within the project. Likewise, the low performance individuals can be warned or removed from the project work and new experts can be invited to join the project in proper time. In sum, performance measurement is very important in terms of project implementation, execution, and control. Conclusion Performance measurement is increasingly becoming a crucial consideration for the organizations work in today’s complicating competitive environment. With the lapse of time, innovative performance measurement frameworks like performance prism are expected to address the several intra and extra organizational issues in almost one go. References Chapman, C. and Ward, S. (2003). Project Risk Management: Processes, Techniques and Insights, 2nd Ed., Hoboken: Wiley and Sons. Kplan, R.S. and Norton, D.P. (1996). The Balanced Scorecard: Translating Strategy into Action. Boston: Harvard Business Press. Neely, A.D. Adams, C., and Kennerley, M. (2002). The Performance Prism: The Scorecard for Measuring and Managing Business Success. Upper Saddle River: Financial Times/Prentice Hall. Zigon, J. (1999). How to Measure Team Performance. Wallingford: Zigon Performance Group. Zigonperf.com (n.d.) How To Measure Team Performance. Retrieved June 7, 2011, from http://www.zigonperf.com/store/jztp.html. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Preformance Measurment Essay Example | Topics and Well Written Essays - 750 words”, n.d.)
Retrieved from https://studentshare.org/environmental-studies/1424654-preformance-measurment
(Preformance Measurment Essay Example | Topics and Well Written Essays - 750 Words)
https://studentshare.org/environmental-studies/1424654-preformance-measurment.
“Preformance Measurment Essay Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.org/environmental-studies/1424654-preformance-measurment.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Preformance Measurment

Stress measurment

...Stress Measurement Introduction: As had been defined in the studies by Shadrach and Vadivelu (2007), the definition of photoelasti can beexplained as follows: “The phenomenon of induced birefringence by the application of mechanical stress is called photoelasticity.” If there is mechanical stress on a material, then isotropic nature of the material would be obtained. On the other hand, if stress leads to strain of a material, then birefringence is obtained and the material proves to be anisotropic in nature (Shadrach and Vadivelu 2007). Thus photoelasticity has been obtained as one of the most essential tools of experiment enabling measurement and analysis of stress in a material (Chapter 4:...
9 Pages(2250 words)Book Report/Review

Effecyive team and preformance management

...?Effective Team and Performance Management Table of Contents Table of Contents 2 Summary 3 2. Introduction 4 3. Bruce Tuckman’s Model analysing the formation of the team 4 3.1. Forming 5 3.2. Storming 6 3.3. Norming 7 3.4. Performing 7 3.5. Adjourning and Transforming 8 4. Belbin’s team roles: 9 4.1. Plant 9 4.2. Monitor evaluator 9 4.3. Implementer 9 4.4. Specialist 9 4.5. Finisher 9 4.6. Shaper 10 4.7. Coordinator 10 4.8. Team-worker 10 4.9. Resource investigator 10 5. Evaluation of the team’s performance 11 6. Recommendation for change in the team 12 7. Challenges that can be faced by the recommendations 13 8. Conclusion 14 1. Summary The report highlights, analyzes and evaluates the team performance of the Electron Company... Team and...
11 Pages(2750 words)Essay

History of Measurment

...History of Measurement - From Primitive Man to Present Day Even though early Babylonian and Egyptian records show that there have been measuring systems long before 3000 B.C., the earliest standardized measurement belonged to the Egyptians. In order to have a standard length for a cubit, the length from the elbow to the extended fingertips, the Egyptians created a black granite rod of the royal cubit, placed in the city square. From the cubit, other measures were developed. The smallest unit of ancient measurement was the digit, the width of a finger. Next to the digit was the palm, equal to 4 digits, and the scale continued up to the cubit, equal to 28...
3 Pages(750 words)Essay

Performance evaluation and measurment in Abu Dhabi police department

...Performance Evaluation and Measurement in Abu Dhabi Police Department Introduction Given the nature of their responsibilities and the means available to the police department in general, discharge of police functions is found to be more problematic than any other public services. However it can reasonably be stated that some of the issues stem from the current performance evaluation practices. Measuring performance of public service departments has always been a difficult and cumbersome process; but the continuing pressures for transparency, accountability and service expectations, performance evaluation requires increased management attention for effecting improvements. This paper analyzes the suitability of different performance... ...
13 Pages(3250 words)Essay

Development and underdevelopmint issues of measurment and defintion

...Development Index (HDI) is also covered in order to guide the developing countries on the essential factors that they should consider during the measurement of human development. Development and underdevelopment issues The macroeconomics and microeconomics challenges that are faced by the developing countries have jeopardized the provision of basic services including education and health. Due to the lack of adequate resources as a result of inadequate technology and innovation, developing countries have continued to rely heavily on developed states both in terms of financial resources and human capital. Even though the financial assistance has reasonably addressed the economic challenges faced by the developing...
6 Pages(1500 words)Research Paper

Reflective Journals on real ear measurment and prescription rules

...Real Ear Measurement Journal There are many things that audiologists need to consider during real ear measurements as new technologies are introduced. Aside from technical procedures, they need to understand the recommendations of the MHAS / MCHAS and from BSA / BAA and that one of these is that all patients should undergo real-ear measurement (REM) prior to or in their fitting appointment (BAAS newsletter, 2001). These recommendations will enlighten the practising audiologist about the available options, formulas, and procedures for measuring real ear. I have learned that the only way to view the actual performance of a particular hearing aid and ear mould on a...
8 Pages(2000 words)Essay

Preformance Managemant

... Performance Management Performance management is one of the most integral systematic procedures within an organization. The need of performance management is much needed in the fast paced business operations. The fact remains that there are many barriers that are noted in the effective implementation of performance management. This paper aims to assess the reasons behind resistance from managers towards implication of performance management. Furthermore, skills and competencies that are needed to be attained by a manager will also be discussed in this paper. Among various reasons for which managers resist performance management includes generalization. For instance, there are assumptions that managers might undertake when... Performance...
2 Pages(500 words)Essay

Preformance Appraisal

...References References Fletcher, C. (2008). Appraisal, Feedback and Development: Making Performance Review Work. New York, NY: Routledge. This book is one of the most comprehensive sources of information about performance appraisal. The author, Fletcher explores the major components of an effective appraisal system. The book is endowed with illustrations of best practices that exhibit how effective employee appraisal process can motivate and develop an organisation’s workforce. Guerin, L. (2007). Performance Appraisal Handbook, 2nd Ed. New York, NY: Consolidated Printers, Inc. This book endows the reader with crucial information about performance appraisal process. It conveys significant information about... References...
1 Pages(250 words)Essay

Worked based project - Why outdoor play is important in the early years- also to include survey abd results

20 Pages(5000 words)Essay

Review Of A Musical Performance

2 Pages(500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Preformance Measurment for FREE!

Contact Us