How do you measure success?

Posted by admin 23/07/2015 0 Comment(s)

So you have implemented a strategy, a new application, and new market. How do you know if you succeeded in your objective? Success can be difficult to articulate, but being able to do so can be key for organizational positioning, both internally and externally. Metrics and tracking of success allow the socialization of achievement, provide timely feedback to catch emerging problems and carry long-term benefits for the organization or individual that uses them wisely. But what are the ones that provide the information that you need?

This has been an area that we have spent hundreds of thousands of hours on for decades. Over that time, the verification metrics requested have evolved from fairly simple ones to increasingly complex mixtures of objective and subjective data points. For instance, in 1979 the number one metric requested was cost compliance to budget. This was requested by 100% of the SIL clients that had PMV (predictive model verification). If they were within budget, everything was good. Starting in 1981, schedule compliance crept into the mix, so that by the end of 1985 over 90% of PMV customers wanted budget AND schedule metric capture. As our IT arena has grown more complicated, the metrics and measures have likewise developed layers of complexity. Currently, the mixture of those underlying metrics encompass more than 180 metrics and measures for PVM clients, all with the idea of being able to point to how well (or badly) things are going. From response time, availability, functional delivery, quality of service and so on, the articulation of relative success has become a critical component of management. What metrics does your organization use to define and measure success? How objective is that measurement?

The metrics of success offer a view into organizational values that I personally find fascinating. So - how do YOU measure success?

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