The SMART criteria. This means the measure has a S pecific purpose for the business, it is
M easurable to really get a value of the KPI, the defined norms have to be A chievable, the improvement of a KPI has to be R elevant to the success of the organization, and finally it must be T ime phased, which means the value or outcomes are shown for a predefined and relevant period.
Ideally speaking, each corporate, department, and section objective should be:
Specific – target a specific area for improvement.
Measurable – quantify or at least suggest an indicator of progress
Assignable or Achievable – specify who will do it and that it is achievable
Realistic – state what results can realistically be achieved, given available resources.
Time-related – specify when the result(s) can be achieved.
Notice that these criteria don’t say that all objectives must be quantified on all levels of management. In certain situations it is not realistic to attempt quantification, particularly in staff middle-management positions. Practicing managers and corporations can lose the benefit of a more abstract objective in order to gain quantification. It is the combination of the objective and its action plan that is really important. Therefore serious management should focus on these twins and not just the objective.
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