Cxo advisor performance and cost benchmarking product set
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1) The document discusses benchmarking and indexing performance to understand current performance levels and identify areas for improvement. 2) It outlines a 4 step process: 1) Use a role model to define performance metrics, 2) Understand leading and lagging indicators, 3) Benchmark focused areas to produce results, 4) Execute plans to realize value from improvements. 3) Benchmarking follows an 80/20 approach to prioritize important metrics, de-politicizes performance discussions, and ensures measures are aligned to business strategy.
Cxo advisor performance and cost benchmarking product set
- 1. CXO Performance and cost benchmarking ADVISOR Client The steps in indexing, base-lining and benchmarking Product benefits pain points • If we don’t know • Follows 80/20 rule where we are Step 1 Step 2 – focus on now, how can we go Use the 3 Role model™ to know what the important Understand lead / lag measures, focus forward? definition of performance is for each performance issues areas, levers of performance and index them business driver • Do we have an early- • De-politicises warning system for performance imminent • Clear definition of performance lead drivers and problems? appropriate • Need to get the response to each current environment • Extract value from right before we can current processes / introduce new systems products / processes v • Focused benchmarks against • We need a high level Step 3 internal and view of our current Benchmark only where focus will produce external parameters performance – with results • All measures within drill downs if needed Step 4 3RM™ paradigm – • The balanced Execute value realisation plans aligned to business scorecard doesn't strategy, resourcing tell us if we’re , communication missing something – models it tends to be a lag Core Legacy indicator of value value performance unlock
- 2. CXO ADVISOR v