Performance management, at least at the employee level, has received serious criticism from multinationals such as Microsoft, General Electric, Adobe, Goldman Sachs Group and Google, in the past 5 years. The traditional ranking system and KPI measurement used in the appraisal process provided little added value for the organization, for managers or for the individual. Practice has proved that a measurement system is merely a promise of improvement.
For some years now, the massive scale of IT based organizations has become a source of inspiration and best practices in driving growth for almost any other type of company around the world. What is specific for the IT&C operating model is the way of driving strategic value by working in a project based system.
In a previous article, I presented the strategic plan of IFMA, the international association for facility management professionals that provides global level educational programs and conferences in the field.
Another strategic instrument is the Portfolio of Initiatives. Initiatives or projects are the ones that help managers close the performance gap between actual results and targets. Taking actions is the first step to improvement.
The portfolio of initiatives consists of a collection of projects that the organization is implementing, in order to achieve its strategic objectives.