Question

S M A R T metrics measurement guidelines for a BSC

Answer 1

SMART Metrics:

S-Specific: When settin a goal, be specific about what you want to accomplish. Think about this as a mission statement for your goal. This is not a detailed list of how you are goin to meet a goal, but should include answer to the popular W questions:

Who- Consider who needs to be involved to achive the goal.

What- Think about exactly what you are trying to accomplish and dont be afraid to get very detailed.

When- You will get more specific about this question under the time bound section of defining SMART goals, but you should atleast set a time frame.

Where- This question may not always apply, especially if you are setting personal goals, but if there is a location or relevant event, identify it here.

Which- Determine any related obstacles or requirements. This question can be beneficial in deciding if your goal is realistic.

Why- What is the reason for the goal? When it comes to using this method for employees, the answer will likely be along the lines of companyadvancement orcareer development.

M-Measurable: What metrics are you going to use to determine if you meet the goal? This makes a goal more tagible because it provides a away to measure proress. If it is a project that is going to make a few months to complete, then set some milestones by considering specific tasks to accomplish.

A-Achievable: This focuses on how to important a goal is to you and what you can do to make it attainable and may require developing new changing attitudes. The goal is meant to inspire motivation, not discouragement.

R-Relevant: It refers to focusing on something that makes sense with the broader business goals. For example, if the goal is to launch a new product, it should be something that is in alignment with the overall business objectives.

T-Time bound: Anyone can set goals, but if it lacks realistic timing, chances are you are not going to suceed. Providing a target date for deliverables is imperative. Ask specific questions about the goal deadline and what can be accomplished within that time period. If the goal will take three months to complete, it is useful to define what should be achieved halfway through the process. Providing time constraints also creates a sense of urgency.