Question

please provide your reflection on how specific KPI can be helpful for resource and stakeholder management.

PLEASE ELABORATE FOR 10 POINTS QUESTION

Answer 1

KPI- Key performance indicator is the best tool to measure the work performance of the team or team members for a given set of task

It gives a specific idea about the role and responsibilities one has done against what is targeted. It gives the idea of the level of achievement of a role. Any deviation from KPI will be the area of probe and company or team can do root cause analysis on the same and can improve further

KPI indicators such as sales, profits, customer satisfaction, return on investments, human resources management, and cost control help in defining the company performance and hence will be beneficial for the stakeholders

It is also helpful for the Resources in order to identify their actual performance against what is assigned to them as their KPI

KPI is like an organization health check and can keep company performance intact within a team