Strategic performance measurement

The performance is depended on the fundamental mission and the associated strategy. Different mission may reveal different strategy and different actions. Different action may dictate different critical factors and different indicators to monitor.

The mission statement should answer question: "What does entity want to accomplish?" or in simple words, mission is simply "Want to do" statements.

It is quite often that the strategy is expressed in abstract terms. Because of this, the strategic objectives need to be defined to make it clear and tangible. Once it is clear and tangible, the activities to implement the organization’s strategy can be defined. If the organization’s strategy is already expressed in specific, measurable terms, the strategy and the strategic objective will be virtually the same.

These objectives could be cascaded down further into more detailed variables that construct or form the variable in above level. These cascaded variables are usually process indicators that describe the mechanic of the organization operation in the unit or even more, individual level. The highest level would be the summary of these detail indicators which should be meeting the mission along with value for all of people at stake most.

./Salam,

Strategy

The word “strategy” derives from the Greek work stratogos; which is formed by two words:

• “stratos” – meaning army.
• “ago” – meaning leading/guiding/moving to
  

Strategy is then projected in tactic which is a conceptual action. A conceptual action should aim for one or more meaningful outcomes. A meaningful outcome should be meeting a set of objectives. At the end, the objective should have value to designated people at stake for the specified action.

In business, strategy relates to the competition, differentiation, positioning, sustainability and future orientation. In short, strategy is how to beat the battle.

./Salam,

Portfolio, Program & Project Management (P3M)

The individual terms above could have many contextual meanings. This exposition will limit the focus to the area of strategy and management.

Portfolio is a collection of whatever prioritized items that will turn into whatever designated objectives. Those item(s) may or may not be having interdependency.

Program is a collection of groups of interrelated activities which have special targeted outcomes. The outcome should be meeting a set of objectives which ultimately be dedicated to the people at stake.

Project by word derives from Latin word projectum, meaning “to throw something forwards”. In project management, project is defined as a temporary endeavor undertaken to create a unique product, service or result.

The terms of portfolio, program and project have atmosphere of specific target. The target is coordinated in a structured arrangement. The arrangement of portfolio, program and project in a given structured layout above aims to align multiple activities, from project into program into portfolio then into ultimate set of objectives.

./Salam,