Look at your main KPIs, do they look forwards or backwards? Do you spend most of your time looking at financial measures that tell you how things were a few weeks or months ago? It’s good to include a number forward-looking measures, that indicate how you will do, as there’s still time to change the [...]
Review your reporting, can you tell at a glance how your business is performing? Can you (and the rest of your team) easily tell how your organisation is doing, even after coming back from holiday? If you can’t, consider designing a report template and making things visual, with more charts and performance icons. Here is [...]
Define you measures. Make sure each measure is clearly described, has an owner, has a documented way of calculating it, the source of the information, what it’s intended to do, how it should be reported and what action should be taken based on what it’s saying. Here’s a checklist to help you do this.
Here’s a handy Excel tip that took me years to discover. Making chart objects the same dimensions and getting them to line up precisely can be a real pain in Excel. If you a creating a dashboard with lots of chart objects this can become really time-consuming. The solution is to use the cell grid [...]
I have witnessed more debates about KPIs and measures than any human really should. They normally settle into a few clear families. We shouldn’t measure -insert controversial topic- because: It’s too hard/expensive to measure We tried that before and it didn’t work It doesn’t have a causal link with the thing that we are interested [...]
I learned something new yesterday. I heard about the “Cobra Effect”. When Britain ruled India there was a problem identified with the number of [venomous] cobra snakes in the country. The government decided to offer a reward for every dead cobra brought to the authorities. Initially it had the desired effect, reducing the number of [...]
I’ve sat in a lot of MI (management information) departments over the years and have noticed a common theme. You can tell when there’s going to be highly visible (and embarrassing) failure in KPI and measure production well before the event. There’s a well established concept called Heinrich’s Accident Pyramid that asserts that a number near-miss events increase the probability of more [...]