Author Question: List and describe five distinguishing features of key performance indicators. What will be an ... (Read 60 times)

nenivikky · **on:** Jul 7, 2018

List and describe five distinguishing features of key performance indicators.

What will be an ideal response?

Question 2

Which approach is most suited to complex problems with significant uncertainty, a need for experimentation, and time compression?

A) simulation
B) genetic algorithms
C) optimization
D) human intuition

upturnedfurball · **Reply #1 on:** Jul 7, 2018

Answer to Question 1

Strategy. KPIs embody a strategic objective.
Targets. KPIs measure performance against specific targets. Targets are defined in strategy, planning, or budgeting sessions and can take different forms (e.g., achievement targets, reduction targets, absolute targets).
Ranges. Targets have performance ranges (e.g., above, on, or below target).
Encodings. Ranges are encoded in software, enabling the visual display of performance (e.g., green, yellow, red). Encodings can be based on percentages or more complex rules.
Time frames. Targets are assigned time frames by which they must be accomplished. A time frame is often divided into smaller intervals to provide performance mileposts.
Benchmarks. Targets are measured against a baseline or benchmark. The previous year's results often serve as a benchmark, but arbitrary numbers or external benchmarks may also be used.

Answer to Question 2

A