Corporate Performance Management Kamran on 27 Dec 2007 09:45 pm
12 Best CPM Practices
Business consultant Michael Coveney has outlined the following 12 Best Practices to implement a Corporate Performance Management (CPM) system:
1. Identify and agree on objectives for each process
2. Plan for all aspects of the business
3. Align strategic goals with operational budgets
4. Assign responsibilities to goals
5. Report at levels that achieve objectives
6. Record assumptions on business environment
7. Communicate goals, objectives and timetables
8. Give access to relevant information
9. Use statistical techniques to predict future performance
10. Provide a feedback loop
11. Budget or forecast a range of scenarios
12. Create an analysis methodology