performance indicator


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performance indicator

a proxy measure of organizational performance often used where profit or ‘bottom-line’ indicators are either inadequate or irrelevant guides to performance. Non-profit-making organizations or those with a multiplicity of objectives can find such indicators especially beneficial. Their use has been encouraged in the UK public sector in recent years, though private sector companies can also find them useful to measure and develop their quality of services. In the public sector their primary use has generally been to measure the relationship of inputs to outputs, thereby providing an indication of both efficiency and of the quality of output (effectiveness). Use of these indicators is thought to improve managerial decision-making and resource allocation. However, selection of appropriate indicators can be problematic whilst measurement and recording of output can be difficult. See MANAGEMENT BY OBJECTIVES, BALANCED SCORECARD.
References in periodicals archive ?
To estimate accuracy and reliability of proposed inventory model two measures have been used: error or deviation of model performance indicators to those simulated, and relative error used to estimate relative deviations of performance indicators.
Match outcome was coded as the response variable (0 = win, 1 = loss), while each performance indicator that was significantly different according to the MANOVA, was coded as explanatory variables.
For more information on the Performance Indicator and other efficiency solutions, visit www.thegreengrid.org.
Performance indicators of hospital consist of bed occupancy rate; mortality rate; average length of patient stay, hospital-bed turnover, hospital swing bed [8].
Yet despite all the hullaballoo and the multimillion-dollar measurement industries coming out of the woodwork, astonishingly little attention gets paid to what matters most-namely, performance indicators, which specify what you should be measuring.
It's not just manufacturers or large organizations that need to monitor key performance indicators (KPIs).
Rather, it is supportive of developing the intelligent use of a range of performance indicators in Wales' ambition to raise standards of teaching, achievement and attainment.
The NRC evaluates inspection findings and performance indicators at commercial nuclear power plants with a color-coded system that classifies them as green, white, yellow or red, in increasing order of safety significance.
Processes measurement is executed through define base of Keys Performance Indicators (KPI).
A strategy map would show the links among these initiatives and the overall goal and the key performance indicators for each.
A performance indicator is a level against which the management of any activity can be assessed.
These will vary by type of performance indicator. Some performance indicators will lend themselves to objective type measures, i.e., 95 percent of the time, 92 percent of the service levels.

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