Performance Benchmarking: Measuring and Managing Performance PDF
Preview Performance Benchmarking: Measuring and Managing Performance
Management for Professionals Forfurthervolumes: http://www.springer.com/series/10101 Peter Bogetoft Performance Benchmarking Measuring and Managing Performance 123 PeterBogetoft DepartmentofEconomics CopenhagenBusinessSchoolCBS Frederiksberg Denmark and YaleSchoolofManagement YaleUniveristy NewHaven USA ISSN2192-8096 ISSN2192-810X(electronic) ISBN978-1-4614-6042-8 ISBN978-1-4614-6043-5(eBook) DOI10.1007/978-1-4614-6043-5 SpringerNewYorkHeidelbergDordrechtLondon LibraryofCongressControlNumber:2012951360 ©SpringerScience+BusinessMediaNewYork2012 Thisworkissubjecttocopyright.AllrightsarereservedbythePublisher,whetherthewholeorpartof thematerialisconcerned,specificallytherightsoftranslation,reprinting,reuseofillustrations,recitation, broadcasting,reproductiononmicrofilmsorinanyotherphysicalway,andtransmissionorinformation storageandretrieval,electronicadaptation,computersoftware,orbysimilarordissimilarmethodology nowknownorhereafterdeveloped.Exemptedfromthislegalreservationarebriefexcerptsinconnection with reviews or scholarly analysis or material supplied specifically for the purpose of being entered and executed on a computer system, for exclusive use by the purchaser of the work. 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Printedonacid-freepaper SpringerispartofSpringerScience+BusinessMedia(www.springer.com) To Victoria,Rasmus,Stina,andNete Endorsements Althoughwidelyused,the fullpowerof benchmarkingis rarelyrealized.The lost opportunitiesstemprimarilyfrominattentiontobenchmarkingfundamentals.Inthis book,Peter Bogetoft—THEexperton the theoryand practice of benchmarking— providesan in-depthyet veryaccessible and readableexplanationof the best way to do benchmarking, starting from the ground up. Simply put, this book should elevatetheartofbenchmarkingtonewlevels,andIwouldnotstartanexercisein benchmarkingwithoutabsorbingitslessons. RickAntle, WilliamS.BeineckeProfessorofAccounting, YaleSchoolofManagementandCFO, CompensationValuation,Inc. I highly recommend this well-written and comprehensive book on measuring and managing performance.Dr. Bogetoftsummarizes the fundamentalmathemat- ical concepts in an elegant, intuitive, and understandable way. The interactive benchmarking software provides a terrific advantage to students, researchers, policy-makers,practitionersandfacultyinterestedindataenvelopmentanalysisand stochasticfrontieranalysis,andisanauthoritativereferenceforbenchmarkingwith DEAandSFA. JonA.Chilingerian, Professor,BrandeisUniversityandINSEAD Inmyworkasamanagerinaregulatedenergyinfrastructurecompany,performance benchmarkingisanimportanttooltoreachoperationalimprovementsanditmakes up a crucial element in the regulatory framework. Bogetoft gives in his book Performance Benchmarking an excellent introductionto the methodologicalbasis ofbenchmarking.Hesharesatthesametimehisbroadviewofthepracticaluseof benchmarkingwhenpresentingthereadertoabroadselectionofpracticalexamples vii viii Endorsements from different sectors and environments—including the role of benchmarking in theincentiveregulationofnaturalmonopolies.Thebookshouldinmyopiniongive inspirationandimportantknowledgetoanymanagerandadministratorwithinterest inperformancebenchmarking. ChristianParbøl, Director, DONGEnergy OvertheyearsIhavetalkedtohundredsofperformancemanagersfromcompanies allovertheworld.Tomysurprisemostofthemdonotsufficientlybenchmarktheir KPIs.Iftheydobenchmarkthenit’sonedimensionalandbasedonseveralimplicit assumptions that makes it likely people end up comparing inferior or infeasible outcomes without even realizing it. I have been no better myself. Performance Benchmarking by Peter Bogetoft has helped me challenge that through a road map for how to take benchmarking to the next level. The theoretical foundation isconvincingandtheapplicationsharedthroughthecasestudiesclearlyillustrates howtherightkindofbenchmarkingcanincreaseefficiency.Thisbookistheprimer onbenchmarkingforperformancemanagement. AlbertBirck, M.Sc.andMBA, BusinessPerformanceManager, MaerskOil Performance management facilitates effective and efficient delivery of goals for anyorganization(suchasfirms,schoolsandhospitals).Regulatorsandcompetition authorities can use this book in designing regulatory policies and the evaluation of merger effects. This excellent book provides a non technical introduction for performancemanagement.PeterBogetoftdeliverstoolsandtechniquestobeused foranyoneinterestedintheevaluationofactivitiesandhighlightstherelevancefor practitioners with the use of many real life examples and applications. The book bridges the gap between the technical academic theory and the daily practice of managinganorganization.Thebookiscomprehensive,accessibleandinteresting..... MisjaMikkers, Director,StrategyandLegalAffairs, DutchHealthCareAuthority BenchmarkingandtherelatedKPIsiswidelyappliedandisnowadaysanaturalpart of every manager’s toolbox. In practice we face examples of poor benchmarking and unfortunately derived bad decisions. The principle of benchmarkingis easily understood,althoughitspromotersarenotalwaysfullyawareofitspotentialsorits flaws. Endorsements ix With this verywell written and comprehensiveintroductionto the many facets of benchmarking in hand, organizations have no excuse for not applying the best and cost effective benchmarking methods in their performance assessments. I can recommend it to everybody who produces or uses benchmarking in their professionallife.Iwill. StigP.Christensen, SeniorR&DDirector, COWI
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