Management by Measurement : Designing Key Indicators and Performance Measurement Systems

Designing Key Indicators and Performance Measurement Systems

By: Fiorenzo Franceschini, Maurizio Galetto, Domenico Maisano

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Hardcover | 1 August 2007

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Hardcover
256 Pages

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23.5 x 15.24 x 1.91

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A world that is changing faster and faster forces companies to a continuous performance monitoring. Indicators give the impression to be the real engine of organizations or even the economy at large. But performance indicators are not simple observation tools. They can have a deep "normative" effect, which can modify organizational behaviour and influence key decisions. Companies are what they measure The selection of good performance indicators is not an easy process. This monograph focuses on the designing of a Performance Measurement System (PMS), knowing that "magic rules" to identify them do not exist. Some indicators seem right and easy to measure, but have subtle, counter-productive consequences. Other indicators are more difficult to measure, but focus the enterprise on those decisions and actions that are critical to success. This book suggests how to identify indicators that achieve a balance in these effects and enhance long-term profitability.

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You Can Find This Book In

Non-Fiction Business & Management Management & Management Techniques Management of Specific Areas Personnel & Human Resources Management Business Strategy Engineering & Technology Technology in General Engineering in General Operational Research Mechanical Engineering & Materials Production & Industrial Engineering

Industrial Quality Control Business Mathematics & Systems Computing & I.T.Computer Science

Quality and process indicators	p. 1
General concepts	p. 1
Quality Management Systems	p. 2
The concept of process	p. 4
Definition	p. 4
Process modeling	p. 5
Process "measurement"	p. 5
Process indicators	p. 7
Indicators functions	p. 10
Aims and use of indicators	p. 11
Terminology	p. 12
Categories of indicators	p. 12
A general Classification of indicators	p. 14
Comparison between economic and process indicators	p. 16
Indicators and research: the state of the art	p. 19
Indicators criticalities and curiosities	p. 21
Introduction	p. 21
HDI indicator	p. 22
Life Expectancy Index (LEI)	p. 23
Educational Attainment Index (EAI)	p. 23
Gross Domestic Product Index (GDPI)	p. 24
Calculating the HDI	p. 25
Remarks on the properties of HDI	p. 25
Air quality indicators	p. 32
The American Air Quality Index (AQI)	p. 33
The ATMO index	p. 38
The IQA index	p. 40
Comments on indicators meaning	p. 46
Air quality indicators comparison	p. 47
The Decathlon competition	p. 48
The effects of scoring indicators	p. 52
Representation and decision	p. 53
The condition of uniqueness in process representation	p. 55
Introduction	p. 55
The formal concept of "indicator"	p. 56
Definition	p. 56
The representational approach	p. 57
Basic and derived indicators	p. 61
The condition of "uniqueness"	p. 61
"Non-uniqueness" for derived indicators	p. 61
"Non-uniqueness" for basic indicators	p. 67
Remarks about the condition of "uniqueness"	p. 69
Condition of "uniqueness" by specializing the representation-target	p. 69
The choice of the best set of indicators	p. 71
Performance indicators properties	p. 73
Introduction	p. 73
Local and aggregated Performances	p. 73
General remarks	p. 75
Indicators Classification	p. 77
Objective and subjective indicators	p. 77
Basic and derived indicators	p. 78
The representational approach for derived indicators	p. 80
A brief outline of the indicators properties in the literature	p. 82
A proposal of a taxonomy for indicators properties	p. 84
General properties	p. 85
Properties of sets of indicators	p. 91
Properties of derived indicators	p. 98
Accessory properties	p. 101
Indicators construction and check of properties	p. 102
Designing a Performance measurement System	p. 109
Introduction	p. 109
The concept of Performance measurement system	p. 109
Why performance measurements?	p. 110
What Performance measures won't tell you	p. 111
Major difficulties in implementing a measurement Systems	p. 112
The construction process	p. 113
The Strategic plan	p. 113
Identification of the key sub-processes	p. 118
Stakeholder needs	p. 120
Vertical and horizontal integration of performance measures	p. 121
A review of the major reference models	p. 123
The concept of "balancing"	p. 123
The "Balanced Scorecard" method	p. 124
The "Critical Few" method	p. 125
Performance dashboards	p. 127
The EFQM (European Foundation for Quality Management) model	p. 129
The problem of indicators' synthesis	p. 139
Indicators synthesis based on the concept of "relative importance"	p. 140
Indicators synthesis based on the concept of "minimum set covering"	p. 142
Indicators synthesis based on the concept of "degree of correlation"	p. 153
Implementing a system of performance indicators	p. 166
Examples of developing performance measures	p. 170
Maintaining a performance measurement system	p. 194
Effective use and misuse of indicators	p. 195
Indicators as conceptual technologies	p. 199
Indicators, measurements, preferences and evaluations: a scheme of classification according to the representational theory	p. 207
Introduction	p. 207
Two criteria of discrimination: empiricity and objectivity	p. 208
The representational definition of measurement	p. 210
An example of ordinal measurement	p. 212
Evaluations	p. 214
Psychophysical evaluations	p. 214
The evaluation of non tangible qualities	p. 215
Evaluation: a subjective homomorphism	p. 216
Problems and questions still open	p. 218
Preference	p. 219
The impossibility of the representational form (for preferences)	p. 220
The concept of "dictation"	p. 223
Conclusions	p. 224
References	p. 227
Index	p. 237
Table of Contents provided by Publisher. All Rights Reserved.

Management by Measurement : Designing Key Indicators and Performance Measurement Systems

Designing Key Indicators and Performance Measurement Systems

At a Glance

Hardcover

Shipping

How to return your order

Defective items

You Can Find This Book In

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