Key Performance Indicators (KPIs) are metrics deployed to track execution and provide a feedback loop in the context of your Strategic Objectives. KPIs provide the mechanism and ‘license’ to manage your strategy, and a basis for your organization’s Performance Management System. When the KPI Framework is weak, your performance measurement, monitoring, control and reporting mechanism is seriously hamstrung. This is where we come in. We work with Board and EXCO to develop a mature KPI Framework that provides an analytical basis for decision-making, whilst focusing management attention on what matters most. We ensure that through the KPI Framework, you can communicate your strategic priorities across the organization, assign responsibility and accountability for execution, support the strategic decision making process, provide a common language of communication, have a shared basis for tracking and reporting performance, and create a basis for your compensation structure, including incentives and other performance-related rewards. We will make sure that the KPI Framework balances Leading and Lagging Indicators, so that we are connecting outputs to outcomes and impacts. We have developed Logic Models to test the KPI Framework, once it has been developed to ensure that there is a ‘line of sight’ between what is measured and what is desired. Under KPI Framework development, the highlights of our work includes;
- Validation of Strategic Objectives to establish and ensure linkage of the same with your vision and mission
- Aligning KPIs to Strategic Objectives in order to achieve the correct ‘Cause-and-Effect’ relationship
- Cascading KPIs down the operational hierarchy so that high level, outcomes and impacts are supported by appropriate inputs and outputs.
- Reviewing the KPI Framework and enabling its maturity by ensuring that there is a balance between Leading and Lagging indicators
- Developing a Strategic Review timetable for your organization based on the nature and structure of its KPI Framework
- Mentoring and coaching executive and operational managers on the formulation and management of performance via the KPI Framework.