Monday, April 11, 2005

Business Performance Management

Managing performance within an organization requires that effective processes and supporting systems be employed. Optimum processes should be rational, cost-effective, flexible and transparent, and the technology on which a given set of procedures relies should also support these procedures and enable them to be more effective. It’s critical to understand not only the processes and systems within your organization, but also the relationship between them when designing and implementing a business performance management solution.

The term business performance management (BPM) can describe an array of functions. In general, it can be described as a set of integrated operational and analytic processes which facilitate the creation of strategic goals and the subsequent management of performance to those goals. In order for performance to be managed, it must first be measured. Meaningful strategic goals are created and defined in terms of specific objectives and key performance indicators. These indicators then are related to operational metrics and linked to performance incentives throughout the organization.

It’s not the most glamorous work, and perhaps that’s why appropriate attention isn’t usually paid to it. But during the past year, Sarbanes-Oxley 404 requirements have caused many companies to dust off their old flowcharts and take another crack at documenting processes currently in use.

Business Performance Management

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