Top 10 do's and don'ts of using key performance indicators
Top 5 do’s
1. Do: Start with your strategy
In order for any indicator to become ‘key’ it has to be related to the most important and critical aspects of your business. The strategy or strategic priorities of any organisation should outline what matters the most, and therefore key performance indicators (KPIs) should link to the strategy and strategic priorities.
The small set of strategic objectives should be the starting point for the development of KPIs. If the strategy outlines what a company needs to focus on in order to be successful, then the KPIs should help to measure the execution of this strategy.
The best way to develop a solid set of KPIs is to convert the strategy into a ...