A VETERAN OWNED SMALL BUSINESS | Call or text now for a FREE consultation: +1 (770) 765-3692 | Website LoginA StrategyDriven Professional advised a Fortune 200 nuclear utility management team in assessing their organizational performance measurement system; identifying monitoring and communication gaps and developing an improvement plan that included supporting system configuration upgrades.
Engagement Approach
Through a series of workshops and interviews, our advisor worked with senior station managers to catalog existing performance metrics and reports, recognize gaps to industry leading practices, identify additional measures needed, and develop a phased approach to upgrading the utility’s measurement system. A fleet-wide metrics and reports governance program was also developed.
Value Delivered
An actionable performance monitoring system upgrade plan was created that, once implemented, will provide executives and managers with the accurate and timely information needed to support effective decision-making. This comprehensive roadmap contained a step-by-step plan for establishing a fully integrated performance monitoring system supported by data collection and processing procedures, application configuration, program governance, and management and employee training.
Other Case Studies
Based on our studies of several enterprise performance metrics systems, companies employing an enterprise resource planning (ERP) system can typically automate up to 40 percent of all metrics. Such automation yields several benefits including:
An effective organizational performance measures system provides organization leaders with actual, comparative performance information by operational area; informing decisions regarding organizational focus and investment. Leaders gain insight to the quartile benchmark rankings, versus industry and/or corporate averages, of organizational performance across numerous cascaded operational areas.
StrategyDriven Functional Area Performance Measure Coverage
Available Organizational Comparisons
Data Sources
External (others available)
Internal
Characteristics
Assumptions
The StrategyDriven Difference
Comprehensive, proprietary collection of U.S. NRC, INPO, WANO, and NEI performance metrics enhanced by broadly benchmarked industry leading practice performance measures. Extensive experience implementing measurement systems.
An effective metrics system translates strategic goals into daily operations and then measures the effectiveness of personnel at meeting those goals. The conceptual model approach focuses on developing functional area metrics that bridge the strategy to operations gap.
Effective executive dashboard and scorecard metrics are tied to the organization’s strategic objectives. By associating these metrics with the organization’s mission, vision, and values goals and then cascading them throughout the organization, a framework supporting increased alignment to the accomplishment of these goals is established.
The illustration below highlights the relationship between shareholder financial return and the day-to-day activities of organization members for an offshore oil drilling company. (Metrics for companies in other industries will vary.)
The following is a representative sample of cascaded cost and equipment reliability performance measures from the corporate organization to the regional hubs, individual rigs, and rig work centers. (Metrics for companies in other industries will vary.)
Conceptual appearance of individual performance measures based on StrategyDriven’s leading practice metric stylesheet. (Not all metric features are shown.)
Definition: Percent of capacity during non-outage periods that a rig is not capable of performing its design operation because of unplanned shutdowns or output reductions; calculated monthly.
Definition: Aggregated weighted count of human errors (based on significance rating) causing impactful events and near-misses as defined by management exponentially discounted over a period of two (2) years.
Asset Management Process Framework
StrategyDriven’s Asset Management Process Framework aligns with U.S. NRC regulatory requirements and INPO and NEI standards. Our framework includes specific asset management and process execution productivity data gathering points. Additionally, we incorporated industry best practices gained through first-hand experience working with dozens of nuclear and non-nuclear utilities over the past several decades.
Performance Measures Catalog
StrategyDriven’s catalog of electric power generation utility performance measures includes hundreds of metrics based on U.S. NRC, INPO, and NEI guidelines and industry best practices. Our systems are presented in a traditional vertically aligned, organizationally cascaded and NEI Standard Nuclear Performance Model sets and are complimented by best practice dashboard and metric style sheets.
Asset Management Best Practices Catalog
StrategyDriven’s inventory of hundreds of asset management program best practices supports a qualitative phase-by-phase assessment of work management process performance – making improvements in process execution readily identifiable and often easily implemented.
Performance measures serve to align an organization’s efforts to the achievement of its mission. As part of a company’s evaluation and control program, they quantifiably monitor important characteristics of the company’s products and services and the performance of the individuals and processes creating them.
Focus of the Organizational Performance Measures Forum
Materials within the Organizational Performance Measures Forum focus on the principles, best practices, and warning flags associated with the leading practices of companies that successfully use performance measures to drive organizational alignment, accountability, and operational performance. StrategyDriven regularly publishes articles, podcasts, documents, and resources within the forum cover those topics critical to a strong performance measurement system.
Click here to visit the StrategyDriven Organizational Performance Measures Forum.
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