Organizations invest significant time, effort, and resources to develop strategies, with the expectation that execution will yield positive results. Yet those same organizations often fail to establish systems to measure implementation impact and organizational performance. Keystone’s research has shown a clear and immediate correlation between the use of measurement systems and improved business and organizational results.
The creation of an effective Performance Management system starts with the organization’s mission and objectives – quantitative metrics are defined to link individual behavior back to the mission and quantify progress towards achieving defined objectives. As each organization is unique in culture, processes, and products, a custom-tailored score card is designed to report results to the organization.
It is well recognized that most strategies fail during execution. Keystone works to overcome this pitfall by partnering with our clients throughout the development and implementation of a Performance Management system. We apply a collaborative design process, a best-practice review and improvement system, and integrate training programs to create a smooth transition as the organization rolls out the Performance Management system.
Keystone’s teams have extensive experience designing Performance Management systems for a range of industries and business functions. We have in-depth experience designing systems that address the unique characteristics of research and development and new product development functions. These functions often have different requirements from other, more “traditional” groups like sales and marketing or manufacturing, as there is a long period of time between research activity and the “payoff” from that activity, making measurement of R&D’s financial impact difficult. In addition, these functions often seek to measure various intangible characteristics of innovation.
Examples of recent projects include Balanced Scorecard Design, Internal and External Benchmarking, Target-setting, Organizational Expertise, and supporting Implementation.