Project Management Office

How Can You Set Meaningful Goals and Business KPIs?

Managing a project is more complex than it seems, regardless of its size or scope. Attempting to improve without specific goals is like shooting in the dark. Goals help you focus and re-evaluate objectives as needed. If you do not understand your goal and its purpose, you are unlikely to achieve it. Even if you believe you understand your goal, if you have trouble measuring it, you do not completely comprehend it. In her blog, Stacey Barr talks about the importance of business KPIs and goals.

Misunderstood Business Goals

Do you put in the time and effort necessary to conduct the research and analysis for goal-setting and business KPIs? This groundwork is essential for your organization to carry out its mission and realize its vision effectively. Goals that sound hollow and are crammed with business jargon are hard to comprehend for the audience and are quickly forgotten by creators. These goals are a result of shallow research and a lack of understanding.

The following are examples of action items misunderstood as goals:
Employee gender balance – How much thought went into balancing the opportunities and desires for either gender to work in this organization?
Work in partnership with clients to offer solutions – This is merely an action plan with an unclear scope.
Transition to a cloud service – This is a milestone that belongs in a project plan.
Vendor performance – This refers to a broad category of performance that could contain several distinct objectives.
Reduce staff turnover by 5% – This is a measure, not a goal. Meaningful measures require a context that describes the quality or state you want to create.

Setting Up Goals and Business KPIs

One of the most obvious signs that your goals and business KPIs were rushed is that you struggle with finding measures that are useful, relevant, and meaningful to you. Asking a few questions will help you understand any goal’s true meaning:
• What makes doing this crucial?
• Why should the organization increase its networking capabilities?
• What should it focus on in networking and why?
• What are the benefits of integrating the systems further?
• Why should it be more integrated?
• What elements need to be merged?
• What specific systems should you integrate your systems with?

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