Metrics R.E.F.R.E.S.H.
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The document outlines a process called R.E.F.R.E.S.H. to review and update metrics. The process involves 6 steps - Review current metrics, Evaluate if metrics are still needed, Find new potential metrics, Reset the metrics to be used, Establish the profile of each metric, and Set an audit schedule to Harness the metrics to drive performance. Going through this process ensures metrics are properly calibrated and updated to provide the most useful information for driving organizational success.
Metrics R.E.F.R.E.S.H.
- 2. Created by Tom Curtis 2011 Blog: www.onimproving.blogspot.com Other presentation on www.slideshare.net Under Onimproving Email: ideamerchants@gmail.com Pictures taken by Author
- 3. INTRODUCTION When was the last time you verified that your metrics and measures still tell you what you think they do? When did you last calibrate your metrics? When did you last update or change a metric? When did you last add a new metric? If the answer is not recently or even ever, this short deck will be of use. The goal of this deck is to provide guidance for a metrics refresh. The steps of the refresh will assess your current metrics, look at new metics, ensure clarity in what they mean, address ongoing maintenance, and help harness the power they have when properly used to drive performance. Good Luck, and may you find your metrics refreshed and better able to help you succeed. -Tom Curtis
- 4. THE R.E.F.R.E.S.H. • Review current metrics • Evaluate whether metrics are needed • Find new possible metrics • Reset metrics to be used • Establish the profile of each metric • Set the metric audit schedule • Harness the metrics to drive performance
- 5. REVIEW • Review current metrics: • collect all metrics • gather calculations • uses (by whom and what for) • reviews: location and frequency
- 6. EVALUATE • Evaluate whether metrics are needed: • is it used? • what does it tell you? • is it the only indicator? • if reduced would it be missed?
- 7. FIND • Find new possible metrics: • what metrics have you used before? • what is used in industry? • what do you wish you were tracking? • do you have a metric that could be used differently?
- 8. RESET • Reset metrics to be used: • decide which metrics stay • choose metrics to add • ensure metrics cover needs • review with leaders
- 9. ESTABLISH • Establish profile of each metric: • definition • calculations • expectations • uses (by whom and what for) • review location and frequency
- 10. SET • Set the metric audit schedule: • decide what to audit • decide when to audit • decide who will audit • decide frequency of audit • decide who will review the audits
- 11. HARNESS • Harness the metrics to drive performance: • establish what is "good" • review trends • root cause issues • make adjustments