Transcription of WHY THE NEED FOR PERFORMANCE MANAGEMENT AS A ...
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WHY THE NEED FOR PERFORMANCE MANAGEMENT AS A ...
1 WHY THE NEEDFOR PERFORMANCEMANAGEMENT AS A SYSTEM? A man s mind stretched by a new idea can never go back toits original dimensions. Oliver Wendell Holmes, Supreme Court Justice, 18971 PERFORMANCE MANAGEMENT (PM) is the process of managing the execution of anorganization s strategy. It is how plans are translated into results. Think of PM asan umbrella concept that integrates familiar business improvement methodolo-gies with technology. In short, the methodologies no longer need to be applied inisolation they can be is sometimes confused with human resources and personnel systems,but it is much more encompassing. PM comprises the methodologies, metrics,processes, software tools, and systems that manage the PERFORMANCE of an or-ganization. PM is overarching, from the C-level executives cascading downthrough the organization and its processes. To sum up its benefit, it enhancesbroad cross-functional involvement in decision making and calculated risk tak-ing by providing tremendously greater visibility with accurate, reliable, andrelevant information all aimed at executing an organization s strategy.
1 WHY THE NEED FOR PERFORMANCE MANAGEMENT AS A SYSTEM? “A man’s mind stretched by a new idea can never go back to its original dimensions.” —Oliver Wendell Holmes,
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