Treasury Performance Measurement
Performance evaluation is a procedure for collecting and reporting information regarding the performance of an individual group/organizations. It require looking at procedure/strategies in place, in addition as whether final result are in line with what was intended or should have been attained.
Good performance is the criterion through which an organization ascertains its potentiality to prevail. Performance measurement figures the parameters under which programs, investments, and acquisitions are each one of the targeted results. On the other hand, a model for performance set faulty may describe a hazardous situation which does not back up the organization nor the thriving to the set aims.
All procedure of measuring performance requires the employ of statistical modeling to ascertain results. A full scope copy of the performance of an organization can never be obtained, as in general some of the parameters cannot be assessed directly but must be estimated by way of indirect notice and as a complete set of records never bears an assessment without compression to central figures.
Basics of performance measurement
All significant work activity must be calculated. Work that is not assessed or assessed cannot be managed since there is no objective information to ascertain its value. thus it is assumed that this work is inherently valuable In spite of everything of its final results. The best that can be carried out with this type of activity is to supervise a level of effort. Unassessed work should be minimized or removed. Desired performance final results must be founded for all assessed work. Final results render the basis for establishing accountability for results instead of just requiring a level of effort. Desired final results are essential for work evaluation and meaningful performance appraisal. Determining performance in terms of desired results is how managers and supervisors make their work assignments operational. Performance reporting and variance analyzes must be accomplished frequently. Frequent describing enables timely corrective action. Timely corrective action is requisite for effective management control.
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