Overview
In the first phase of the performance measurement process, you decide which aspects of your group's performance you want to measure. You define your objectives, critical success factors (CSFs), and performance metrics.
If your company uses a formal performance measurement (PM) system, one or more of these elements may already be defined for your group by senior managers in the organization or by the unit supervising the performance measurement system. The performance data you gather must then be in a form that's compatible with the companywide system.
If your organization does not have a formal PM system and you want to track performance on important business activities, you'll need to generate your own objectives, CSFs, and metrics.