Strategy & Governance

Question 1

KPI’s - Usefulness & Examples

Answer 1

Usefulness of KPI’s
- useful for limited time review of financials, & able to highlight key metrics to gauge performance
- What makes a good KPI:
a) focused on business objectives (what is critical for success); AND
b) looks at long term goals & seeing progress towards those goals

Examples
- Number of customers - Can be used to compare to industry
- Number of services performed compared to sales of supporting product
- average time spent per consumer - can compare to industry to adjust time spent