1. Define Your Performance Measurement Methodology. Pinpoint will help you develop a performance measurement methodology before a capital investment is initially funded. This should include definition of measurement indicators, mapping to strategic goals and objectives, data collection and record-keeping procedures. These might be incorporated in your management plan.
2. Keep Your Records Up-to-Date. The only way to have accurate performance data is to keep records on an ongoing basis. Much of the data should be maintained on at least a quarterly basis—and can be integrated with your other status reporting requirements. Pinpoint Management can help you develop needed measurement bench marks.
3. Business and Technology Issues. The primary purpose of technology is to improve business performance. Since success programs will change over time, it is important to analyze how well your business is doing on an ongoing basis.
4. Be Open Minded about Change. All options should be considered—modifying the system, outsourcing it, replacing it, and merging it with other systems. Pinpoint Management can help you as a business owner identify what needs to be reconsidered.
5. Take Action. The payoff for conducting a review is to take action—make decisions, make things happen and benefit from the effort. A plan of action may be appropriate with actions, milestones, assigned responsibility, and scheduled completion dates. In some cases, action will cost little or nothing (or maybe even save money!). In other cases, there may be a decision to revise the investment’s scope, schedule, or costs in the next available budget cycle.
For this and more information about Pinpoint Management, Chad Harward, strategic planning, marketing, business development, sales training and true success for business owners please check us out at www.PinpontManagement.net or call us at 801.814.1883