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
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| 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 |
