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Key Performance Indicators (KPI): Developing, Implementing, and Using Winning KPIs, 2nd Edition

ISBN: 978-0-470-54515-7
320 pages
February 2010
Key Performance Indicators (KPI): Developing, Implementing, and Using Winning KPIs, 2nd Edition (0470545151) cover image

An in-depth look at how to create and use key performance indicators (KPIs), from the King of KPIs – now updated and expanded!

By exploring measures that have transformed businesses, David Parmenter has developed a methodology that is breathtaking in its simplicity and yet profound in its impact. Now in an updated and expanded Second Edition, Key Performance Indicators is a proactive guide representing a significant shift in the way KPIs are developed and used, with an abundance of implementation tools, including:
  • The four foundation stones that lead the development and use of KPIs
  • A 12-step model for developing and using KPIs with guidelines
  • A KPI resource kit including worksheets, workshop programs, and questionnaires
  • A new and pragmatic approach to finding critical success factors
  • Over 300 performance measures
  • Implementation variations for small to medium enterprises and not-for-profit organizations
  • New implementation short cuts
  • How to brainstorm performance measures
  • Templates for reporting performance measures
  • A resource kit for a consultant who is acting as a coach / facilitator to the in-house project team

Now including a discussion of critical success factors, as well as new chapters that focus on implementations issues and 'how to sections' on finding your CSFs and brainstorming the performance measures that report progress within the CSFs, Key Performance Indicators, Second Edition will help you identify and track your organization's KPIs to ensure continued and increased success.

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Preface.

Acknowledgments.

Chapter 1 Introduction.

Key Result Indicators.

Performance and Result Indicators.

Key Performance Indicators.

Management Models that Have a Profound Impact on KPIs.

Definitions.

Notes. 

Chapter 2 Foundation Stones for Implementing Key Performance Indicators.

Four Foundation Stones Guiding the Development and Use of KPIs.

Defining Vision, Mission, and Strategy.

Note. 

Chapter 3 Developing and Using KPIs: A 12-Step Model.

Step 1: Senior Management Team Commitment.

Step 2: Establishing a “Winning KPI” Project Team.

Step 3: Establishing a “Just Do It” Culture and Process.

Step 4: Setting Up a Holistic KPI Development Strategy.

Step 5: Marketing the KPI System to All Employees.

Step 6: Identifying Organization-Wide Critical Success Factors.

Step 7: Recording Performance Measures in a Database.

Step 8: Selecting Team-Level Performance Measures.

Step 9: Selecting Organizational “Winning KPIs”.

Step 10: Developing the Reporting Framework at All Levels.

Step 11: Facilitating the Use of Winning KPIs.

Step 12: Refining KPIs to Maintain Their Relevance.

Notes. 

Chapter 4 KPI Team Resource Kit.

Using This Resource Kit.

Step 1 Worksheet: Senior Management Team Commitment.

Step 2 Worksheet: Establishing a Winning KPI Team.

Step 3 Worksheet: Establish a “Just Do It” Culture for This Project.

Step 4 Worksheet: Setting Up a Holistic KPI Development Strategy.

Step 5 Worksheet: Marketing the KPI System to All Employees.

Step 6 Worksheet: Identifying Organization-Wide CSFs.

Step 7 Worksheet: Comprehensive Recording of Measures within the Database.

Step 8 Worksheet: Selecting Team Performance Measures.

Step 9 Worksheet: Selecting Organization-Wide “Winning KPIs”.

Step 10 Worksheet: Developing Display, Reporting, and Review Frameworks at All Levels.

Step 11 Worksheet: Facilitating the Use of KPIs.

Step 12 Worksheet: Refining and Modifying KPIs to Maintain Their Relevance.

Chapter 5 Templates  for Reporting Performance Measures.

Reporting Key Result Indicators in a Dashboard to the Board.

Reporting Performance Measures to Management.

Reporting Performance Measures to Staff.

Graph Format Examples.

Notes.

Chapter 6 Facilitator's Resource Kit.

Remember the Fundamentals.

KPI Typical Questions and Answers. 

Chapter 7 Critical Success Factors Kit.

Benefits of Understanding Your Organization's CSFs.

Relevant Success Factors.

Step 6: Identifying Organization-Wide Critical Success Factors.

Finding the CSFs through a Relationship Mapping Process.

How I Organize the Critical Success Factor Workshop.

Note. 

Appendix 7A: Where to Look for Your Success Factors.

Appendix 7B: Letter Invite from the CEO.

Appendix 7C: Success Factors Workshop Planning Checklist.

Appendix 7D: Workshop Instructions.

Appendix 7E: Success Factor Matrix.

Chapter 8 Brainstorming Performance Measures.

Chapter 9 Implementation Variations For Small-to-Medium Enterprises and Not-for-Profit Organizations.

Small to Medium Enterprises.

Not for Profit Organizations.

Chapter 10 Implementation lessons.

How to Implement Winning KPIs in 16 Weeks.

Notes. 

Epilogue: Electronic Media Available to You.

Appendix: Performance Measures Database.

Index.

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David Parmenter is an international presenter who is known for his thought-provoking and lively sessions, which have led to substantial change in many organizations. He is a leading expert in the development of winning KPIs, replacing the annual planning process with quarterly rolling planning, quick month-end processes, and converting reporting to a decision-based tool. Parmenter's work on KPIs is recognized internationally as a breakthrough in understanding how to make performance measures work. He has delivered workshops to thousands of attendees in many cities around the world including Sydney, Melbourne, Kuala Lumpur, Singapore, Tehran, Johannesburg, Dublin, London, Manchester, Edinburgh, and Prague. Parmenter has worked for Ernst & Young, BP Oil Ltd, Arthur Andersen, and PricewaterhouseCoopers, and is a fellow of the Institute of Chartered Accountants in England and Wales. He is a regular writer for professional and business journals. He is also the author of Pareto's 80/20 Rule for Corporate Accountants (Wiley). David can be contacted via parmenter@waymark.co.nz. His website www.davidparmenter.com contains many white papers, articles, and freeware that will be useful to the reader.
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"The book makes an important distinction that separates performance indicators from results indicators (like profits, market share percentages, or customer satisfaction numbers), and gives an intriguing list of characteristics for identifying a KPI in the wild. All in all, it's a very handy reference for making sense of something people think they already know - but don't." (Accounting Today, Aug 16-Sept 12, 2010)

"(Parmenter)...draws on his previous research and experience to compile a series of 'how-to' guide-lines for performance improvement implementation for senior managers." (Accountancy Ireland, August 2010)

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March 01, 2010
Key Performance Indicators (KPI) Developing, Implementing, and Using Winning KPIs, 2E

Key Performance Indicators (KPIs), while commonly used around the world, have never until now been clearly defined. Management personnel have identified measures as KPIs though these measures never been true KPIs. Key Performance Indicators represent a set of measures focusing on aspects of organizational performance that are the most critical for the success of an organization.  They help companies define and measure progress toward organizational goals. KEY PERFORMANCE INDICATORS: Developing, Implementing, And Using Winning KPIs (Wiley; Feb 2010) provides a practical, step-by-step model to simplify the complex areas of KPIs and help organizations avoid the common pitfalls.  

Once an organization has defined its mission and vision, identified its strategic goals, and short listed its critical success factors, it needs a way to measure progress toward these objectives. The lack of understanding of performance measures has led most monitoring and reporting of measures to fail. The casualty has often been the balanced scorecard, a brilliant tool that can only work if the appropriate measures are in it. 

KEY PERFORMANCE INDICATORS represents a significant shift in the way KPIs are developed and used, with an abundance of implementation tools. KEY PERFORMANCE INDICATORS includes:

  • A letter to the CEO
  • A 12-step model for developing and using KPIs with revised guidelines
  • Implementation guidelines for small to medium enterprises and not-for-profit organizations
  • How to brainstorm performance measures
  • A kit to help you find your organization’s critical success factors
  • New examples and illustrations
  • Worksheets, workshop programs, and questionnaires
  • Over 300 performance measures
  • Updated templates for reporting performance measures
  • A facilitator’s (consultant) resource kit
  • References to “free” or “for fee” electronic media to help you save time.  

Written by performance expert David Parmenter, CEO of Waymark Solutions, KEY PERFORMANCE INDICATORS shares his in-depth understanding of "winning KPIs" and provides guidance on how to effectively and successfully implement KPIs in an organization in only 16 weeks.  

Rarely new to the organization, most KPIs have either not been recognized or are “gathering dust” somewhere unknown to the current management team. KEY PERFORMANCE INDICATORS provides organizations, business leaders, writers, accountants, and consultants the tools necessary to identify and measure the aspects of organizational performance that are the most critical for the current and future success of the organization.  

It has been said that KEY PERFORMANCE INDICATORS is the missing link between the balanced scorecard work of Robert Kaplan and David Norton and the reality of implementing performance measurement in an organization.  

For more information about KEY PERFORMANCE INDICATORS or to arrange an interview with the author, please contact Newman Communications, Tess Woods, Tess.woods@newmancom.com  

ABOUT THE AUTHOR: 

DAVID PARMENTER is an international presenter who is known for his thought-provoking and lively sessions, which have led to substantial change in many organizations. He is a leading expert in the development of winning KPIs, replacing the annual planning process with quarterly rolling planning, quick month-end processes, and converting reporting to a decision-based tool. Parmenter's work on KPIs is recognized internationally as a breakthrough in understanding how to make performance measures work. He has delivered workshops to thousands of attendees in many cities around the world including Sydney, Melbourne, Kuala Lumpur, Singapore, Tehran, Johannesburg, Dublin, London, Manchester, Edinburgh, and Prague. Parmenter has worked for Ernst & Young, BP Oil Ltd, Arthur Andersen, and PricewaterhouseCoopers, and is a fellow of the Institute of Chartered Accountants in England and Wales. He is a regular writer for professional and business journals. He is also the author of Pareto's 80/20 Rule for Corporate Accountants (Wiley). 

 

KEY PERFORMANCE INDICATORS

Developing, Implementing, and Using Winning KPIs, 2nd ed

By David Parmenter

February 2010

Hardcover; $49.95

Wiley

978-0-470-54515-7

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