KPI Framework Reflection Paper (TESLA INC.)
•There are numerous framework from which to identify, organize, build, and evaluate Key Performance Indicators – from Balanced Scorecard to Business Alignment, Alternative models, Lifecycle-based models, Persona-based models, Composite models.
•Choose one framework and develop an argument for its advantages and disadvantages in a specific circumstance or challenge. Reflect on why you chose this framework over others for that circumstance.
The process of building KPI frameworks
• Business objectives
• Goals for each objective
• Key Performance Indicators (KPIs) for each goal
• Targets for each KPI
• Segments to help interpret progress towards the set targets
• Critical Success Factors (CSFs)
• Final approval
A little more direction on the KPI Framework Reflection Paper (Word counts at least 1250 to 1500 APA)
8 points: Expressed Critical Thinking about the Framework
5 points: Use of Facts & Data in Arguments and Logic
6 points: Logical Argument, Clear Communication & Writing
1 point: Use of APA Format Guideline
There have been numerous questions posed. Here is an example to provide some direction, shortened from the original:
Key Performance Indicators are measurable values that indicate progress in objectives for a given company or organization. There are multiple types of KPI’s that are used in the corporate, government, and non-profit worlds to evaluate both high level objectives and more granular or department level goals. Typically a department, team or company would seek to measure …, however each can choose whatever indicator makes the most sense to them. Once these objectives are agreed upon, the next step is … It is also key to insure that … Finally, a decision must be made about… There are options to choose from;
Balanced Scorecards, Business Alignment, Alternative models, Lifecycle-based models,
Persona-based models, and Composite models. These frameworks all have different strengths and challenges. In this paper, we will analyze each framework
and take an in depth look at the benefits and weaknesses that ….
Key Performance Indicators Frameworks
Alternative models for key performance indicators come in many frameworks. The
paragraphs below evaluate Lifecycle-Based models, Persona-Based models, and Composite models.
Lifecycle-Based models are important types of frameworks ….. The weakness of the model is that it is … Persona-Based models use fictional characters to signify different types of audiences that a company or organization may want to market a product to. This model is often used … While this framework is again very beneficial for the purpose in which it is designed, … Composite models allow various types of models to come together to share information in unique ways. The goal in composite models is often … Above we discussed the shortcomings of frameworks such as Lifecycle base models and Persona-based models. A composite model may be able …
Balanced Scorecards (KPI Model to consider)
A Balanced Scorecard is a strategic framework … The visual benefits of balanced scorecards … In one research study to help give … Later when interviewed … (Wang & Wongsuphasawat, 2011) The data expressed in …Balanced Scorecard Example As stated above, there are many examples of ways to utilize a balanced scorecard to help … Balanced scorecards also ultimately demonstrate …
KPI Framework Analysis and Dashboards
There are many options for a company or team to choose from when evaluating what
framework would be best for understanding key performance indicators. Balanced scorecards have … than alternative performance indicators such as lifecycle based models, persona-based models and composite models. Even with some disadvantages, the
scorecard gives ….