Value Chain analysis is a process improvement methodology developed by Michael Porter of Harvard Business School in the 1980's. It is a part of the field of strategic analysis. The "value chain" refers to the process of creating value throughout each step of of the business chain. For example, An exploration company creates value by... [Read More]| ProjectEngineer
Key Performance Indicators (KPI) are clear, specific metrics that measure an organization's progress toward a corporate goal. They generally have a time component, because they track the execution of a corporate strategy. They are the "scorecard" part of a balanced scorecard. To develop KPI's, it helps to divide them into three categories: Target Relative Progress Target... [Read More]| ProjectEngineer
The Balanced Scorecard is a system for the implementation of corporate strategy. It is a performance measurement tool that helps an organization execute its strategies and turn them into measurable results "on the ground." In its practical form, a balanced scorecard is a 4-quadrant itemized list of key performance indicators (KPI's) that the organization strives... [Read More]| ProjectEngineer
