Performance Management process examples
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Introducing Performance Management
Performance Management can be defined as a set of management processes, often supported by information technology, that help to improve the management, strategy execution and decision making in organisations. Performance management processes help companies define strategic objectives, measure performance, analyse and report performance as well as align people and culture.
Performance Management is what organisations do to become more successful and stay ahead of their competitors. In fact, managing performance is THE most critical task of any executive or manager. If organisations get it right, their performance management processes allow them to define and communicate their strategies, measure, report and monitor progress in order to manage and improve business performance.
Towards better decision making
Performance Management can basically be defined as a set of management processes, often supported by information technology, that help to improve the strategic decisions people make every day. In the end it is the quality of those decisions that will separate successful companies from the rest. Performance Management is therefore a modern umbrella term for a set of management approaches that enable organisations to define and execute their strategy, and to measure and monitor performance in order to inform strategic decision making and learning.
The basic performance management model integrates processes for defining strategic objectives, measuring performance, analysing performance and reporting and reviewing performance and aligning people and culture. All of these are focused on performance improvement which is the central premise of performance management (see Figure below).
Beyond People Management and Performance Monitoring
The following processes and terms are often associated with performance management: strategic planning, performance measurement and monitoring, business intelligence, analytics, people management, reporting, financial planning & budgeting, forecasting, data warehousing, risk management, project & programme management, business process optimisation, knowledge management, dashboards, scorecards, metrics and key performance indicators.
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Brumwell-worked in the information technology and project management fields in recent years for companies including Enbridge. Much of his work in the past five years has been on contract, leading him to want to seek out something more permanent.
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Brumwell worked in the information technology and project management fields in recent years for companies including Enbridge. Much of his work in the past five years has been on contract, leading him to want to seek out something more permanent.
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Now he teaches the same instrument as part of his work with Buskaid, although he dreams of starting his own project management business "with a few friends", information technology and project management being what he studied after finishing school.