PREAMBLE: WHERE ARE WE NOW?

How are data and information currently being used throughout your enterprise to:

• manage risk?

• inform decision-making – getting the right information, at the right time, in actionable format?

• improve all aspects of the business – using business analytics, Six Sigma etc.?

The best entrée to adopting the performance measurement system described in earlier chapters is to find out the answers to these questions. And this is not a major undertaking: It can be accomplished in days not weeks, and by just a small team of two people, with only modest demands on management time.

The outcome of the assessment process will be a list of prioritized improvement strategies and action plans, developed with the leadership, that form the basis for getting started.

THE PERFORMANCE MEASUREMENT FRAMEWORK ASSESSMENT PROCESS

The goal is to assess the status of the enterprise against eight basic criteria1 (see Exhibit 11.1) relating to the Performance Measurement Framework, as a basis for improvement.

Here we give an overview of the assessment process, with the details deferred to Chapter 12. It is modeled on a proven process developed by Norbert Vogel, a leading practitioner in devising and exhibit 11.1. Criteria used in an initial assessment of an enterprise against the Performance Measurement Framework, and the areas explored for each criterion.