Experts' Perspective

Industry experts answer three questions about the implementation of a business performance management system (BPM). Often projects like this start from a planning and budgeting focus, or, if not, will eventually require this type of data for comparison purposes, says Ripley Maddock. The key is to fi...

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Bibliographic Details
Published in:Business intelligence journal 2004-10, Vol.9 (4), p.20
Main Authors: Ripley Maddock, Phelps, Tom, Summerhayes, Martin
Format: Magazinearticle
Language:English
Subjects:
Accountability
Corporate management
Corporate objectives
Initiatives
Performance management
Planning
Strategic planning
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Summary:Industry experts answer three questions about the implementation of a business performance management system (BPM). Often projects like this start from a planning and budgeting focus, or, if not, will eventually require this type of data for comparison purposes, says Ripley Maddock. The key is to find an area that is interested in tracking and managing its measures, he adds. BPM helps organizations translate corporate strategy into tactical execution, explains Tom Phelps. Hence, the first component and most critical aspect of any BPM initiative is to have a well-defined, measurable, and published set of performance objectives, he says. Designing clear measures and metrics that are linked to the organization's individual strategic objectives is the final stage of the BPM framework, says Martin Summerhayes.
ISSN:1547-2825
1944-9615