Question

Explain why monitoring is important, and suggest why the measure of performance can be problematic. Suggest alternative measures of performance.

Answer 1

Monitoring is necessary to keep a track ofthe progress of our goals that we aim to achieve. It is very important for us to monitor the necessary steps so that we can plan accordingly going forward. If we do not monitor the task, we might be incorrect in assessing the further steps. Monitoring should be done in a postive way to bear the fruitful result. Forced monitoring might not be the right thing as that might hinder the growth.

It is sometimes difficult to assess the performance of anything be it a living individual or a non-living thing because the person assessing the performance might have different parameters or different opinion to measure the performance, One might consider it the best and one might consider it the bad. It is all based on their experiences. There needs to be a transparency or a specified criteria to be used while measure someone's performance.

Some alternative measures could be performing tests are regular intervals of time to track the performance and every test needs to be a aligned together. One needs to set a pre defined criteria and list all the metrics that are supposed to be there in the subject which is to be measure. Every criteria should be scaled from 1 to 5 with 1 being the strongest of all and 5 being the weakest. One can also set Key Performance Perimiters or KPIs. For example- A compancy has a set of KPIs such as Return on Assets, Net Profit Margin etc. to measure their perforance.