Assignment Task:
Discussion response to the following post:
A good metric should have at-least the following:
1. Should be strategic - It is designed to help the organization monitor whether it is on track to achieve its goals.
2. should be simple - must be understandable, user must know what is being measured, how it is calculated, what the targets are, how incentives work, and, more importantly, what they can do to affect the outcome in a positive direction.
3. Actionable - Users should know what corrective actions to take to improve performance. There is no purpose in measuring activity if users cannot change the outcome.
4. Timely - the metric must be an actionable and timely. Performance metrics must be updated frequently enough so the accountable individual or team can intervene to improve performance before it is too late.
KPI & RI
RI - result indicators show to what extent you have achieved in perspective, RIs are used by organizations to determine how much risk they are exposed to or how risky a particular venture or activity is. While KPIs help organizations understand how well they are doing in relation to their strategic plans.