The Basics
What does PMS stand for?
Performance Measurement System
What was the #1 benefit of a PMS?
Strategic alignment
What was the #1 problem amongst companies?
Only focusing on money
Which type of indicator shows results that already happened?
Lagging
Should you measure everything or focus on a few key things?
Focus on a few key things
What does the S in SMART goals stand for?
Specific
Name a benefit about getting better over time.
Continuous improvement
What do you call collecting too much data?
Data overload
Which type of indicator helps predict future results?
Leading
What does KPI stand for?
Key Performance Indicator
What framework did Kaplan and Norton create?
The Balanced Scorecard
A good system looks at more than just what?
Money (financial results)
What happens when employees push back on the system?
Employee resistance
Is profit a leading or lagging indicator?
Lagging
Should measures stay the same forever or be reviewed over time?
Be reviewed over time
What does the M in SMART goals stand for?
Measurable
Good data helps managers make better what?
Decisions
What do you call a system that never gets updated?
A static system
Is customer satisfaction a leading or lagging indicator?
Leading
A good measure should be clearly what?
Defined
How many perspectives does the Balanced Scorecard have?
Four
Name a benefit about adapting to change.
Innovation and agility
What problem comes from not having enough time, money, or staff?
Resource constraints
Should a good system use leading indicators, lagging indicators, or both?
Both
Name one thing you can compare a KPI against.
A target or past performance