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A target reflects the desired level of a Key Performance Indicator (KPI). Targets make the results derived from measurement meaningful and provide organizations with feedback regarding performance. Targets are a mandatory prerequisite for each KPI measured, they should be quantifiable and clearly expressed.
The expression “cascading KPIs” has become increasingly common in the world of performance management, but it is sometimes misunderstood. Cascading represents translating and aligning organizational objectives and Key Performance Indicators (KPIs) from strategic level down to departmental level and finally, to individual level.
“Knowing our risks provides opportunities to manage and improve our chances of success.”
Roger VanScoy
Single-loop and double-loop learning are two different types of learning that can be used by any organization in order to adapt and improve its overall performance. The first one refers to constantly adjusting actions until desired results are achieved and double-loop learning implies questioning the fundamental assumptions.
In performance management, leading and lagging KPIs are commonly used terms. But is their meaning completely understood?
Leading KPIs usually measure things that address what can create future value (e.g. % Employee engagement, # Innovation ideas, # Service lead time), while lagging KPIs look back at past performance (e.g. $ Sales revenue, $ Profits).
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