not only a measurement system but also a management system PERSPECTIVES OF BALANCED SCORECARD Customer Growth Learning Financial Growth Business Process PERFORMANCED BASED MANAGEMENT SYSTEM Key steps in performance-based management: 1. Define Mission and Goals 2. Measure Performance 3. Use Performance Information 4. Sustain Performance Based Management ATTRIBUTES OF SUCCESSFUL PERFORMANCE MANAGEMENT SYSTEM A performance management system will be successful if properly formulated and implemented. A documented conceptual framework is needed for the performance measurement and management system. Effective internal and external communications are the keys to successful performance measurement. Accountability for results must be clearly assigned and well understood. Performance management systems must provide intelligence to decision makers, not just compile data. Rewards, and recognition should be linked to performance measurements.
Performance measurement systems
should be positive, not punitive.
Results and progress toward program
commitments should be openly shared with employees, customers & stakeholders.