Step 6 : Take action!
Take action: Generate value
This is where the value is generated!
Act upon your KPI data
Once you understand why your KPI results are good or bad you need to do something about it. Monthly management meetings are a good place to review the results, establish actions and start implementing them. Certainly someone, such as a KPI Champion, needs to take ownership of the process.
Share good practice
Where performance is really good this should be celebrated in newsletters and presentations. Better still, the knowledge of how to achieve this ‘best practice’ should be shared about the company. Mentoring and staff exchange are a good way to achieve this. It is a wasted opportunity if you take-for-granted that you do something well – it should be publicised inside and outside of the company and you should make sure that everyone knows how to do it.
Remedy poor performance
Where performance is falling below expectations, problem areas should be remedied. If you’re struggling to do that, CCI have experience in facilitating workshops, particularly within supply chains, to iron-out problems. Click here for more info.
Managing Director of Birse Coastal, Phil Wright, “Measuring our performance has helped us to understand which parts of a project are doing better than others. The measures give a quantifiable way of benchmarking ourselves, which helps us to focus on getting everything up to the standard we want.”