Why use KPI documentation forms?
The KPI documentation form is a template that structures the most relevant information regarding a given indicator. Important fields of the form include: the KPI definition, Calculation formula and Target. In addition, other relevant fields can be used, such as: Subordinate measures, Limitations and Notes.
It is important to use KPI documentation forms because:
- They assist in the documentation of KPIs in a clear, structured and standardized manner;
- They provide detailed information about each indicator;
- They ensure consistency in measuring and interpreting KPIs;
- They enhance KPIs’ understanding.
The most important functions of KPI documentation forms are:
- Communication facilitator through standardization;
- Automation enabler;
- Knowledge management facilitator;
- Stakeholders’ educator (KPI owners and data custodians);
- Buy-in enabler, by involving stakeholders.
References:
- The KPI Institute (2013), KPI documentation form
- The KPI Institute (2013), The Certified KPI Professional training course
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