Can anyone explain to me as to the differances regarding the terms * Performance Management v * Performance Measurement?
You can measure performance based on results from budget variances, customer complaints, etc. The measures give you feedback on the decisions you will be making. (ie. You got 40 marks for your exam, this tells you to work harder now)
You can manage performance by formulating strategies to influence positive results – using KPIs to motivate the management, formulating short or long-term strategies, etc. (ie. You work harder now to achieve your goal of 80+ marks in exam.)
Care must be taken that you don’t delve too much on making too many measures and interpreting all of them, if there are measures that are redundant and not contributing to an effective performance management.
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