Entries by StrategyDriven

Budget Management Best Practice 1 – Line Item Awareness

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Budget Management Line Item AwarenessThe primary organizational responsibility of every executive and manager is the diligent management of resources. This oversight is clearly expressed through the effective management of an executive or manager’s assigned budget.

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Annual Alignment Review

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Just as a well-developed organizational performance measurement system helps align an organization to the efficient achievement of its goals, a misaligned performance measurement system diverts focus and resources toward non-value-adding activities. Over time, existing projects finish and new initiatives begin; requiring performance measures within the system be changed. While these alterations are intended to support continued, effective business operation, they are often performed without a holistic view of the system and may have unintended adverse impacts. Therefore, it is prudent to conduct a holistic performance measurement system evaluation with frequency that is regular enough to minimize the damage misalignment can cause without being so frequent as to become overly burdensome.