In a previous blog, we identified that it is important to Measure what Matters, even if the instinct is to measure everything. You’ll know you have selected the correct measures if you have established that these are the things you are willing to put a stake on and are willing to improve. The next task is to make these Measures Count for your business. This will require an initial investment but, once in place, it is a proven way to improve performance.
What do you need to think about in preparing to make your measures count?
For each of your Measures that Matter, take the time to carefully consider each aspect of the measure:
- Purpose: Why you are measuring?
- Context: What is the background?
- Relationship: Relationship to other measures.
- Scope: What are the boundaries for measurement?
- Definition and Formula: What you are measuring
- Unit of Measure: How will occurrences be counted
- Frequency: Measurement and reporting
- Targets & Goals
- Data Source
- Governance: Who is responsible for driving performance improvement in the activity being measured?
This is a lot to think about, which is one of the reasons that it is better to measure a few things that matter rather than try to measure everything that moves.
To assist you, we’ve created two simple documents. In the first, we detail each of these measures, what they are, and examples. In the second document, you can print off the same template without examples and fill out the examples with measures applicable to your own business or organisation. It’s a perfect exercise to get you thinking in the right direction and a useful example to share with other colleagues that will illustrate how measuring what matters saves time, as well as improving performance.
Download Making Measures Count 1
Download Making Measures Count 2