Intro
Applied either at corporate level or individual level, one of the key functions of management is measuring and managing performance. Between idea, action and results there is a journey to take. And perhaps the most used term in everyday life to reflect the progress of this journey and its results is "performance".
Performance management is a ubiquitous term in today's business environment. It is embedded in the body of knowledge of various disciplines and it is used at all organisational levels. In scientific management, performance is associated with two key processes: performance management and performance measurement. These two key processes can't be separated from one another and performance management both proceeds and follows performance measurement. As in the case of management, the term performance can be used at various levels (individual performance, team performance, organisational performance), to express general achievement (such as performance in sport), or to reflect a benchmark against peers. At Acumen Integrat we have expertise acrosss all these dimensions of performance management that enables us to provide customers with an complete framework that adds value to their operations.
Performance management and measurement
Performance management is the overarching process that deals with performance. It reflects the approach one entity has towards performance and it includes sub processes such as: strategy definition (planning / goal setting), strategy execution, training and performance measurement. Performance measurement is a sub process of performance management that focuses on the identification, tracking and communication of performance results by the use of performance indicators. It deals with the evaluation of results, while performance management deals with taking action based on the results of the evaluation and ensuring the target results are achieved.