Performance Management: A Grand Opportunity to Improve - InformationWeek

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Performance Management: A Grand Opportunity to Improve

Managing performance is at the core of every organization's mission

VentanaView™

Summary

In today's fast-paced business climate, the agility with which a company manages performance can determine its market position and profitability. Businesses are driven by competitive pressures to reach higher standards of competence in day-to-day operations and to capitalize on the interaction of their people and processes; optimizing these to generate better outcomes is what performance management is all about. Ventana Research advises organizations to evaluate the effectiveness of their management processes and information systems to help manage performance.

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Performance management is the approach that uses best practice methodologies and information technology to manage the performance of an organization. It requires the business to effectively use the value of all its assets - people, processes and technology - to achieve the organization's strategic goals. Performance management focuses on aligning, optimizing and understanding actions and decisions, both individual and collaborative, across the business network. Correctly implemented, it should enable all individuals working at strategic and operational levels to align their actions to deliver optimal performance.

One of the most crucial organizational challenges is to engage the corporate culture and reshape it to value and support performance management. Organizational politics can hinder a company's ability to become more transparent, bidirectional and performance-driven. Enlightened organizations deal with such resistance through executive mandates and applications that address the broad set of performance-related initiatives. A centerpiece of performance management is adopting processes that can methodically improve your results. After years of research, Ventana Research has simplified this effort into a methodology called PerformanceCycle. It employs a three-step process, "align, optimize, understand," that links the business and user requirements for the entire organization. This process contains mechanisms to assess and utilize technology that can provide people with information and, through collaboration, shorten the cycles required for making decisions and taking action. Using PerformanceCycle, companies can optimize performance of the organization and align individual actions. When an organization begins the PerformanceCycle process, it is important that it apply it across all levels of the organization and that individuals collaborate to establish the organization's strategy, initiatives and goals before taking action or making decisions. Ultimately, performance management focuses on operational management, where accountability actually resides. Ventana Research advises companies to take action to address performance management in a concerted manner that will drive change and yield positive results.

Assessment

Performance management provides a critical foundation on which organizations can build to improve their business functions and empower individuals to maximize their results. Using information and collaboration to align, optimize and understand performance will improve the operational quality and results of the organization. By capturing knowledge from across the organization, companies can build a roadmap for performance management that will lead to long-term value increases for stakeholders. Now, as never before, businesses have the ability to transform themselves by implementing performance management. And now, as never before, the pressure is on businesses to manage their performance to achieve their goals.

About Ventana Research
Ventana Research is the leading Performance Management research and advisory services firm. By providing expert insight and detailed guidance, Ventana Research helps clients operate their companies more efficiently and effectively. These business improvements are delivered through a top-down approach that connects people, process, information and technology. What makes Ventana Research different from other analyst firms is a focus on Performance Management for finance, operations and IT. This focus, plus research as a foundation and reach into a community of over two million corporate executives through extensive media partnerships, allows Ventana Research to deliver a high-value, low-risk method for achieving optimal business performance. To learn how Ventana Research Performance Management workshops, assessments and advisory services can impact your bottom line, visit www.ventanaresearch.com.

2006 Ventana Research

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