In: Operations Management
Describe the best ways to organize performance improvement data for effective review by a board of directors
The best ways to organize the performance improvement data for the review by board of directors include the visual display methods as it takes less time for review. The best one would be organizing the data in dashboard. Visual display in dashboard allows the board of directors to understand the performance improvement at a glance and identify the areas that requires more attention. The data summary can be arranged in the dashboard effectively identifying with the help of key performance indicators. The board of directors would be able to analyze and compare the performance trend and the gaps in performance without doing any calculations. Hence dashboard helps in better utilization of board’s time and completes the review effectively.
Other visual display methods like graphs also help to organize the data effectively. One of them is run chart which is a line graph that helps to plot the data over time and the board of directors can understand the performance trends over time analyzing the graph. A control chart also can be used to review the performance improvement in the form of graph. It uses a central line to show the average and upper and lower control limits to plot the performance data effectively.