by the MAIOP governing board. The governing board then determines if it should be incorporated into the Measurement Inventory and/or Executive Dashboard, resulting in a more agile and responsive performance measurement system. 4.1b Performance Analysis and Review IPM’s performance and capabilities are analyzed and reviewed by the appropriate company functions through various organizational performance measures that assess the following: • Overall performance • Organizational capabilities • Competitive performance • Financial health • Progress toward strategic objectives • Ability to react to changing organizational needs and challenges Following our first ILPEx application, we began categorizing our measurements in the following way: 1. Key Measures : These outcome measures (typically lagging) form the Executive Dashboard (Figure 4.1-2) and gauge past performance and trends. When possible, external benchmarks are used for Key Measures and are shown in bold blue. The insights gleaned provide information for mid- to longer-term executive and strategic decision-making. 2. Management Measures : Outcome or in-process metrics are reviewed as noted in the Measurement Inventory (Figure 4.1-3) . These measures are used for managerial decisions regarding day-to-day operations. 3. Monitoring Measures: Used to monitor processes that are typically stable. Action is taken when variability/trends fall outside of “normal” ranges. The data are analyzed for trends and compared to goals and benchmarks. The effectiveness of improvement strategies is also analyzed to determine whether there is a need to alter any strategy. Special analyses are conducted when anomalies are encountered, including a re-examination of the data source itself to verify the validity of conclusions. Customer information from the PQP is used to ensure that our services are delivered in the way we intend them to be. Data from customers’ searches on social media and resultant IPM interaction are used to identify topics that are of greatest interest to the marketplace. Figure 4.1-3 shows the combined Key and Management Measures. The measures appear across the top and listed vertically are the teams responsible for the analysis of them. The intersection points indicate the frequency of review (e.g., monthly, quarterly). Lastly, the bottom of the table shows the assessment purpose, how IPM’s leadership utilizes this information to strategize, allocate resources, improve processes, and assess overall performance. Since 2016, the ET (governance board) reviews organizational performance monthly (at minimum) through the Measurement
Inventory. This has allowed IPM to make course corrections to our strategy and action plans, as needed. For example, recruiting yield versus growth needs drove the addition of recruiting to the strategic plan. Additionally, when gaps are identified, the data are used to drive continuous improvement. Qualitatively, client feedback is discussed with the assigned consultant during one-on-one meetings with their manager to improve performance and increase customer satisfaction. Any unexpected changes to our operating environment would be captured through our measurement system, most notably via specific questions in the PPE. For instance, if client expectations suddenly veered in a certain direction, that would be identified through one of several questions on their expectations. Or if organizations began scaling back the outsourcing of much of their project management work, our realization would quickly be impacted. That, in turn, would be immediately recognized by senior leadership, enabling the organization to respond rapidly. 4.1c Performance Improvement 4.1c(1) Future Performance Organizational performance is projected through our annual budgeting process using the key measures shown in Figure 4.1-2 and adjusting for risk, established company trends, and prevailing conditions. This involves individual Account Managers preparing account revenue and headcount budgets based on the current pipeline and Business Development (BD) projecting annual new account revenue and associated headcount and incorporating information from the Industry and Regional Assessment Summaries (IAS and RAS). During the BPP for 2010, the ET established 10-year lofty goals—Vision 2020 Long Range Goals (LRG)—for the Company’s future performance. To determine the yearly revenue Vision 2020 goal, historical data/rates were used. Revenue is business sensitive information and has been redacted. Similarly, in establishing the Company Performance Bonus 2025 LRG in 2017, yearly standard expenses were estimated using the average Consumer Price Index as comparative data. Pro-forma statements were crafted and reviewed to ensure projections provided both realistic and motivating opportunities for future performance in developing the goal. 4.1c(2) Continuous Improvement and Innovation Findings from performance reviews, gleaned from the Measurement Inventory (Figure 4.1-3) , are used to inform functional departments and the BPP. Opportunities for improvement and innovation are identified when benchmarks/goals have not been met or poor performance is identified. Individual departments use the findings to take on improvement projects for their functions, while the BPP sets priorities for continuous improvement and innovation in the form of Initiatives. The subsequent tiering of the Initiatives is itself an improvement to prioritizing our continuous improvement. The opportunities and Initiatives are deployed to the entire staff through quarterly Staff meetings, and
Page | 17
Made with FlippingBook interactive PDF creator