Wednesday, 11 April 2012

The only 3 measures you need for any initiative

Q1: Business Value. What are the projected financial benefits of the initiative. This should be a range of maximum and minimum values representing the 90% confidence interval?

Q2: Leading Indicators. What are the early warning indicators that will let you know, in time to fix things, if you are on target for the business value? Business value measures are usually "lagging indicators" - which become visible too late to do anything about them?

Q3: Current Baseline. Do you know how are you doing at the minute on Question 1 and 2 before you try to improve things? You would be amazed at how many companies start improvement programmes without first establishing their pre-improvement baseline!

Ken Thompson (aka The BumbleBee) blogs about bioteams, virtual collaboration and business simulation at