April 21, 2014
Performance Measurement Performance measurement is an essential part of the company; it provides a stage for managers and supervisors, as well as, the performance of its employees. It helps them determine whether or not employees are meeting the company’s expectations. Performance measurement methods differ according to the work surroundings, such as, the company, and the occupation of the employee. It can determine an employee’s employment status, and his or her compensation, as well as, their opportunity for advancement. Because of this performance management should consist of methods that use fair and correct assessments of the employee’s performance.
…show more content…
Forced Ranking This is the third performance measurement; it measures the achievements of each employee against those of their coworkers, and not by comparing the employee’s current performance against his or her past performance (Ruth Mayhew, 2014). This measurement forces ranking and creates a very competitive workforce. Performance Measurements for a Project Performance measurements should be created for each project, based on the goals, scope, and objectives of the stakeholders. Three measures of performance that can be used in any project are speed, volume, and accuracy. These measurements have some differences and some similarities, and will always be compared and contrasted. All three of these measurements are effective for assessing the successful outcome of the project. The first measurement is: Speed Speed can be used to estimate the success of the project; it illustrates the rate of evolution of the production process or the final product produced during the project. It is different from time, which measures the general project schedule. Speed represents the pace at which the final product operates, and it can be measured in miles per hour, for instance, if the project is to build a skateboard. Time would refer to the general schedule for building the skateboard, and speed measures the level of performance of the finished product.