Page 72 - Paulisms: Gold Nuggets for Small Business
P. 72
3.2.1 Elements of good KPI plans
Unit of measure – Every KPI must have a unit of measure, e.g. %, $, number, etc.
Target – Every KPI needs to have a target and the time period of your goal, e.g. data over a particular time frame. These are generally a unit of measure, as above.
Data source – Every KPI needs to have a clearly defined data source so there is no grey area in how each is being measured and tracked, e.g. from monthly management accounts, Customer Relationship Management (CRM), etc.
Reporting Frequency – Different KPIs may have different reporting needs, but a good rule to follow is to report on them at least monthly.
