Given below are the four steps that I somewhat understand:
1) Review the standards set in the planning process.
2) Measure performance at the strategic, tactical, and operational levels.
3) Compare performance outcomes with the standards that were set.
4) Make a decision:
- Successful performance should be rewarded.
- Unsuccessful performance should be corrected
However, the questions is, if your not savvy or keen on the financial stuff, how can one improve, or at a minimum kept abreast of all the important items?