article thumbnail

Don’t Be Tyrannized by Old Metrics

Harvard Business

While effective metrics are essential for focusing attention and achieving results, they can also overpower better sense. Most industries cower to a few central metrics, the yardsticks that define the winners and losers. Metrics tried and proven over years become a guide to what’s important, driving resource allocation.

Metrics 28
article thumbnail

Managing Risks and Controlling Projects: How Data-Driven Project Management Come in Useful for Multi-Project Environments

Epicflow

In this article, we’re delving into the most essential aspects of efficient project management that can ensure successful and timely delivery, and also dwelling on the importance of project data for risk management in single-project and multi-project environments. So, what do you need for an efficient risk analysis?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The 3 Pillars of an Effective Data Management Strategy: Monitoring, Tracking, and Reporting

Strategic Planning and Management Insights

Our strategic planning services offer guidance on how a strategic planning facilitator can provide support in constructing an effective strategic plan that ensures your strategy is communicated and implemented across your entire organization. However, it's crucial to have a consistent and efficient method for tracking progress.

Report 98
article thumbnail

We Can’t Study Short-Termism Without the Right Metrics

Harvard Business

However, higher accruals can reflect either innocuous aspects of certain business models, such as in the construction industry, where the time lag between earning income and realizing cash is long, or that growing firms retain higher working capital to meet greater current and future customer demand.

Metrics 30
article thumbnail

The Effects of Misunderstood Corporate Strategies

LSA Global

Without a true north, lots of time and effort can be wasted in organizational politics and “churn” where little gets efficiently accomplished and there’s minimal movement forward. Another critical aspect of a well-constructed corporate strategy is defining how resources will be allocated. Lack of Accountability.

article thumbnail

Business/busyness

Seth Godin Blog

He designed the Model T to be efficient to build. Social media might offer metrics that tell you if you’re moving toward what you hope to produce, but don’t confuse the map with the territory. As soon as you try to make a temporary metric go up at the expense of the real goal, you’re on your way to mere busyness.

Metrics 31
article thumbnail

Work-Life Balance Is Easier When Your Manager Knows How to Assess Performance

Harvard Business

Instead of infrequent, subjective evaluations based largely on “time on task,” Ryan now has managers, employees, and teams develop a set of agreed-upon performance metrics that are consistently tracked. Turnover plummeted; satisfaction, engagement, and financial performance soared.