Performance Measurement Methods Assignment Example | Topics and Well Written Essays - 500 words

Performance Measurement Methods - Assignment Example Consequently, it is important to have a form of performance measurement tool or method that matches the exact form of performance variable being measured. It is against this background that different types of performance metrics have been devised. Likierman (2009) attempted to discuss some of the key performance measurement methods by focusing on things that organizations must avoid if they do not want to fall into the trap of wrong performance measurement. One of these traps was mentioned to be describing against yourself. This is the process of looking to one’s organization alone when measuring performance. As this is seen to be a trap, it means the best method for growth is to measure performance by having benchmarks that makes an organization look beyond itself. In my current organization, there are several ways that performance can be improved with we are to set benchmarks in our performance measurement. Very specifically, it is important for the organization to look at some of its key competitors and the output of work that comes from these companies. Based on such figures, out organization may also set its own goals so as to make it an industry leader rather than focusing only on its internal efforts. In another instance, Likierman (2009) makes mention of looking backwards as a major trap that defeats the goal of achieving effective performance measurement. Reviewing the annual reports of most companies, it would be seen that the companies quantify their output of work based on what was achieved in the previous year. Likierman (2009) however refuse to see this as an effective way of measuring performance. This means that the right method is to forecast by making projections of what the company wants to achieve. This method can clearly be applied in my current organization to ensure its growth and development. To do this, it would be important for the