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ysabetwordsmithThis year during Three Weeks for Dreamwidth, I'm writing about goal-setting frameworks for ![[community profile]](https://www.dreamwidth.org/img/silk/identity/community.png)
goals_on_dw. Read Part 1: Introduction to Goal-Setting Frameworks, Part 2: The 1-3-5 Rule, Part 3: The 12-week Year, Part 4: ABCS (Achievable, Believable, Committed, Specific), Part 5: Backward Goal, Part 6: BHAG (Big Hairy Audacious Goals), Part 7: BSQ (Think Big, Act Small, Move Quick), Part 8: CLEAR (Collaborative, Limited, Emotional, Appreciable, Refinable), Part 9: Goal Pyramid, Part 10: Golden Circle, Part 11: GROW (Goal, Reality, Options, Way Forward), Part 12: HARD (Heartfelt, Animated, Required, Difficult), Part 13: KPI (Key Performance Indicators.
Part 13: KPI (Key Performance Indicators)
KPI stands for Key Performance Indicators. These are things you measure as part of pursuing your main goal, to see your progress toward reaching it. As a general rule, you will get more of what you measure, so choose mindfully. They can also be goals unto themselves. Say you have a goal of becoming the top cheese seller in your city. As part of this, you might set a target of selling X pounds of cheese per week, which is both a goal of its own and a way of measuring how close you are to becoming the top cheese seller.
A KPI is qualitative, quantifiable, and objective. It focuses on a specific outcome. As a subgoal it may focus on what level, how much, or by when. It may measure speed, amount, repetitions, product quality, and so on. A good plan typically sets up 5-7 KPI to gauge progress toward a strategic goal. Set these for the best factors, worst factors, and anything that must be accomplished to reach the main goal. Don't try to track everything, just the most crucial stuff.
KPI provide multiple benefits. They focus your strategy by measuring progress in concrete ways. This makes it easier to coordinate group efforts toward the goal. They are clear and objective, so people are less likely to argue over them. They create a shared vision and keep everyone on the same page. You can set triggers like, "When we reach X, then we will do Y," and the KPI will tell you when X. This lets you know when to advance to the next step if things are going well, or when to take corrective action if something is lagging.
Each KPI contains five components. 1) A measure. It has to track something specific. 2) A target. This is most often a number, such as "sell 150 pounds of cheese per week." 3) A data source. You must know where and how to track things -- and make sure the records are consistent. Use a form, database, spreadsheet, or something else to ensure consistency. 4) Reporting frequency. This can be daily, weekly, or monthly depending on how fast you need to respond if something goes wrong. 5) Supervisor. Specify who is responsible for gathering, reporting, and acting on the information. There's no point to collecting it if you don't actually use it to steer, and that requires having someone with the authority to make changes. If it's a personal project, like "improve basketball skills," then it's all up to you.
There are three common types of KPI. Broad number measures just count something, like types of cheese in a shop. Progress measures tell you how close you are. They're sometimes called "percent complete" KPI because they are often expressed as "We have raised 40% of our fundraising target." Change measures track shifts. They are usually framed as a percentage increase or decrease in a specific timeframe, such as "selling 10% more cheese during the first quarter."
To develop KPI, first look through your activities and think about which things are the most influential and thus worthy of tracking to meet your goal. Chose things that contribute directly to your strategy. Next, evaluate their quality. Make sure they are clear, quantifiable, and objective. Then assign responsibility. Every KPI needs someone in charge of tracking it and adjusting activities if something doesn't measure up. Over time, monitor your KPI and report consistently on how they go. Don't treat your goals with "set 'em and forget 'em" carelessness. Actively use KPI to further your progress.
goals_on_dw. Read Part 1: Introduction to Goal-Setting Frameworks, Part 2: The 1-3-5 Rule, Part 3: The 12-week Year, Part 4: ABCS (Achievable, Believable, Committed, Specific), Part 5: Backward Goal, Part 6: BHAG (Big Hairy Audacious Goals), Part 7: BSQ (Think Big, Act Small, Move Quick), Part 8: CLEAR (Collaborative, Limited, Emotional, Appreciable, Refinable), Part 9: Goal Pyramid, Part 10: Golden Circle, Part 11: GROW (Goal, Reality, Options, Way Forward), Part 12: HARD (Heartfelt, Animated, Required, Difficult), Part 13: KPI (Key Performance Indicators.Part 13: KPI (Key Performance Indicators)
KPI stands for Key Performance Indicators. These are things you measure as part of pursuing your main goal, to see your progress toward reaching it. As a general rule, you will get more of what you measure, so choose mindfully. They can also be goals unto themselves. Say you have a goal of becoming the top cheese seller in your city. As part of this, you might set a target of selling X pounds of cheese per week, which is both a goal of its own and a way of measuring how close you are to becoming the top cheese seller.
A KPI is qualitative, quantifiable, and objective. It focuses on a specific outcome. As a subgoal it may focus on what level, how much, or by when. It may measure speed, amount, repetitions, product quality, and so on. A good plan typically sets up 5-7 KPI to gauge progress toward a strategic goal. Set these for the best factors, worst factors, and anything that must be accomplished to reach the main goal. Don't try to track everything, just the most crucial stuff.
KPI provide multiple benefits. They focus your strategy by measuring progress in concrete ways. This makes it easier to coordinate group efforts toward the goal. They are clear and objective, so people are less likely to argue over them. They create a shared vision and keep everyone on the same page. You can set triggers like, "When we reach X, then we will do Y," and the KPI will tell you when X. This lets you know when to advance to the next step if things are going well, or when to take corrective action if something is lagging.
Each KPI contains five components. 1) A measure. It has to track something specific. 2) A target. This is most often a number, such as "sell 150 pounds of cheese per week." 3) A data source. You must know where and how to track things -- and make sure the records are consistent. Use a form, database, spreadsheet, or something else to ensure consistency. 4) Reporting frequency. This can be daily, weekly, or monthly depending on how fast you need to respond if something goes wrong. 5) Supervisor. Specify who is responsible for gathering, reporting, and acting on the information. There's no point to collecting it if you don't actually use it to steer, and that requires having someone with the authority to make changes. If it's a personal project, like "improve basketball skills," then it's all up to you.
There are three common types of KPI. Broad number measures just count something, like types of cheese in a shop. Progress measures tell you how close you are. They're sometimes called "percent complete" KPI because they are often expressed as "We have raised 40% of our fundraising target." Change measures track shifts. They are usually framed as a percentage increase or decrease in a specific timeframe, such as "selling 10% more cheese during the first quarter."
To develop KPI, first look through your activities and think about which things are the most influential and thus worthy of tracking to meet your goal. Chose things that contribute directly to your strategy. Next, evaluate their quality. Make sure they are clear, quantifiable, and objective. Then assign responsibility. Every KPI needs someone in charge of tracking it and adjusting activities if something doesn't measure up. Over time, monitor your KPI and report consistently on how they go. Don't treat your goals with "set 'em and forget 'em" carelessness. Actively use KPI to further your progress.
