Real-Time Performance Management in an International Chemicals Company
The performance measurement system for this company was designed to operate in real-time, and to filter out ‘noise’ to help managers to focus on the real issues behind the figures. The measurement in real time allowed managers to react more quickly than traditional retrospective systems. The performance management system linked the efficiency of processes and the effectiveness of the process management at both operational and strategic levels. This direct linkage of performance measures to strategic objectives also gave the flexibility to easily change performance measures as objectives changed without requiring a complete re-arrangement of the performance management system.