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Benchmarking

Benchmarking compares processes, measures or outcomes with an appropriate reference to identify performance gaps and improvement opportunities. The reference may be internal, a competitor or a function performed well in another sector. Comparability, definitions, data access and context must be assessed. Benchmarking is a learning process rather than simply copying a numerical target; different strategy, case mix or operating conditions can explain a gap.

Worked example

A call centre compares resolution times with a well-performing internal unit, then investigates training and customer complexity before adopting its target.

Common mistake

A lower cost elsewhere is not proof that the same result can be achieved without changing quality, risk or service scope.

Where it appears in your exams

QualificationExamRelationshipPeriod
ACCA APM Direct September 2026–June 2027
ACCA MA Direct September 2026–June 2027
ACCA PM Supporting September 2026–June 2027
FIA FMA Direct September 2026–June 2027