Performance Management consists of assessing progress toward achieving predetermined quantifiable goals. Performance Management focuses on the accurate reporting of historic metric data that management teams use to identify strategic opportunities and pinpoint operational problems. Defining the best performance measures, like selecting the best strategy, will always have a critical impact on the success of any organization. Interpreting root cause problems and selecting the best strategic alternatives are all part of the closed loop performance management process.
Performance Management utilizes the reams of data made available by today's ERP systems to define metrics and track results. Strategy Execution is a natural extension of performance management. Strategy Execution assigns associate level accountability for the actions required to achieve continuous improvement of the of the selected performance management metrics. Performance Management reports results. Strategy Execution holds individual associates accountable for achieving those results.
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