What is it?
A KPI or Key Performance Indicator is an agreed performance target that you set with your buyer. It ensures everyone focusses on the same thing and we know what “success” looks like.
Why does it work?
It works because it lays out, in no uncertain terms, PRECISELY what you are looking to achieve and eradicates any uncertainty. A KPI can be useful when reporting to clients so they can see progress – and not just once the KPI has been hit or missed.
How can you use it?
To make this work, you simply need to agree with your clients what the Key Performance Indicators are, what the timescale is and how you will track them. Don’t forget that if they do go off track, an emergency action plan is a great asset to have to hand.
Possible KPIs could include:
- increase in something
- decrease in something
- eradicating something
- creating something
- speeding something up
- slowing something down
- improving on previous performance by a % or fixed number
SLA – Service Level Agreement
QER – Quantifiable End Result
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