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Hello, on the last exam in C section I was asked to answer what were 5 indicators of KPI (explain and bring examples) and I wasn’t able to answer the question. I couldn’t find the answer in the book so can you please point me which topic is it and where can I find the answer ?
thank you
KPI’s are ‘key performance indicators’.
If they are not mentioned in whichever book you were using, then it will be because the term is revision from Paper MA (was Paper F2). It is part of performance measurement in both Paper MA and Paper FM.
Yes and balanced scorecard and building block model are key performance indicators right ?
No. The KPI’s are the things we decide are the most important areas of performance to measure and how we measure them.
For example, McDonalds might decide to measure quality by asking customers to complete a form scoring the quality between 1 to 5, and then recording the average score. They could decide to measure speed of service by keeping records of the time taken to serve each customer and recording the average service time in minutes.The balanced scorecard and the building block model are both stressing the importance of looking at different areas of performance and not just financial performance.
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