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Performance Management

SMART Planning

It ought to be simple, really.  Plans should be a statement of how you will achieve your objectives, by a particular date.  So, you might assume that an effective plan would comprise at least the following:

  • The actions required to achieve the objectives
  • The date(s) by when the actions must be completed
  • The resources required to deliver the actions

However, in order to be useful, particularly when it comes to Business Planning, it’s usually also necessary to have:

  • The objective clearly stated (albeit, maybe not quantified)
  • A means of measuring progress towards the objective
  • Targeted levels of performance
  • Ownership and accountability defined

In the space of seven bullet-points, we’ve already introduced a whole set of potentially misunderstood terminology.  For example:

  • What’s the difference between an objective and a target?
  • What do we mean by “performance”?
  • What exactly does “measure progress” mean?
  • Does “measurement” have to be quantifiable data?
  • What’s the difference between a milestone and a target?

Read the full article on SMART Planning.

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