Topic 4A Performance Management

Question 1

DEFINITION of Performance Management

Answer 1

The ongoing ASSESSMENT and IMPROVEMENT of key business processes in order to drive SUPERIOR results.

Question 2

GOAL of Performance mgmt

Answer 2

To improve FASTER and BETTER than competition

Question 3

How does Performance Mgmt work?

Answer 3

Focuses on capabilities/processes

Question 4

ELEMENTS of Performance Mgmt(3)

Answer 4

A. Process Mgmt
B. Business assessment/ measurement
C. Business Improvement

Question 5

Performance Mgmt is not sufficient. Successful firms also need?(7)

Answer 5

Develop effective STRATEGIES
Design and build effective ORGANIZATIONS
Continue to LEARN and INNOVATION
Have sufficient RESOURCES
Build defensible POSITIONS
Consistently outperform COMPETITORS
Anticipate and outmaneuver disruptive TECHNOLOGIES

Question 6

Elements of PROCESS Mgmt – DEFINE

Answer 6

Use flow charts to identify customers, suppliers, and those who perform key steps in the process (SIPOC Model)

Question 7

Elements of PROCESS Mgmt – MEASURE

Answer 7

Create OUTCOME measures and PREDICTIVE measures that allow complete understanding of process performance

Question 8

Elements of PROCESS Mgmt – ANALYZE

Answer 8

Use the measures and process maps to understand the performance of the process vs. goals and benchmarks

Question 9

Elements of PROCESS Mgmt – IMPROVE/ INNOVATE

Answer 9

Make improvement a routine activity using basic/ advanced tools & methods.

Question 10

Elements of PROCESS Mgmt – CONTROL

Answer 10

Make sure the process and improvements continue to provide CONSISTENT, PREDICTABLE performance

Question 11

Role of Process Mapping(6)

Answer 11

Describe the process visually
Clarifies the STEPS/sequence in the process
Clarifies WHO performs
Identifies HOW the work flows through the organization
Identifies WHERE the KEY LINKAGES are with other parts of the org
Helps to identify areas for IMPROVEMENT

Question 12

Business Assessment

Answer 12

Comprehensive evaluation of business performance and business process management against a core set of fundamental business excellence CRITERIA

Question 13

Business excellence CRITERIA categories(6)

Answer 13

Key role of LEADERSHIP
CUSTOMER focus
Process Mgmt/ High performance Environment
Fact-based Mgmt & Evaluation
Improvement & Innovation
Continuous Assessment & Renewal

Question 14

Key roles of leaderships

Answer 14

Create and communicate a clear VISION and DIRECTION for the business and full align the organization in support. Build CAPABILITIES for future success while delivering CURRENT RESULT by effectively balancing long term and short term PRIORITIES

Question 15

Customer Focus

Answer 15

Design, develop and deliver products and services based on an accurate understanding of, and a commitment to, creating true VALUE for the customer that is superior to COMPETITIVE options.

Question 16

Process Mgmt/ High performance Environment

Answer 16

Use a process-based view of work that integrates MULTIPLE FUNCTIONS working in collaboration to create a high performance environment.

Question 17

Fact-Based Mgmt & Evaluation

Answer 17

Use a system of balanced measures that are aligned with the business goals and strategy. Include outcome and driver metrics that are both leading and lagging indicators of performance. Benchmark against standards of excellence as well as competitors.

Question 18

Improvement & Innovation

Answer 18

Use proven improvement methodologies to address strategic needs and performance gaps. Use highly competent improvement experts who rely on a common language and toolset and who are skilled in collaboration and project leadership. Seek to find new, innovative ways to create value for customers and the organization.

Question 19

Continuous Assessment & renewal

Answer 19

Use comprehensive criteria to routinely assess the business and validate findings through and independent review. Develop clear strategies to sustain and enhance business results in the future. Align plans, policies and practices to support these strategies.

Question 20

The Well-dressed Measure

Answer 20

CLEAR DESCRIPTION of the outcome being measured with link to strategic objective
All axes and data are clearly labeled
Provides comparisons to: prior periods, goals, and benchmarks (including competitors, if available)
Identifies the owner of the measure (person responsible for preparing/updating)
Indicates the date of the last update
Indicates any current improvement initiatives specifically directed at improving this result and projected timing and impact
Clearly states the current performance status and provides comments on the results shown in this measure