Key Performance Indicators in Business
Significance of Key Performance Indicators (KPIs) in the business of power especially within a change environment due to partial deregulation. The KPIs must possess certain features to be effective in reality.
A framework of two-stage model has been suggested for the successful implementation of KPIs in the organization. The KPIs associated to supply availability, cost, reliability, profitability and consumer service are to be implemented at the first stage. Within the second stage, the KPIs for commercial quality standard, voltage quality standard, service standard, finance and human resources could be implemented.
Instead, the KPIs are trying to standardize performance of the organization in power business by several parameters. This procedure of performance measurement will not only ensure the economic viability of the power utility organizations but also helps to enhance the satisfaction of power consumers.