What is Lifecycle Performance Management?
Lifecycle Performance Management is the systematic implementation of an enterprise-wide performance strategy involving all business units, systems and personnel. It is a sequence of management processes, when combined, provides a complete approach to managing performance from start to finish. Lifecycle Performance Management focuses on all areas that determine the success of an enterprise, including:
- Departments / Business Units
- Programs (e.g. implementing organizational policies)
- Products / Services
Lifecycle Performance Management involves integrating key documents into a performance plan, aligning performance to organizational goals, applying best practices and key performance activities, identifying the right metrics, developing a plan to act on the results, and constantly improving the knowledge and performance of your people, processes and technology.
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The Lifecycle Performance Management Model
Lifecycle Performance Management includes integrating multiple data sources and understanding what processes make your organization most productive. It involves revisiting core processes and identifying ways to maximize and continuously improve performance.
Utilizing these best practices and processes outlined in this framework will enable you to:
- Develop performance measures that drive decision making
- Assure that your projects and activities are aligned with overall strategic goals
- Transform your employees into high performers and ensure team effectiveness
- Identify your mission critical processes and improve those that limit your organization's performance
- Leverage business intelligence tools
- Manage change through knowledge and insight.
- Get the best performance out of your systems and reach your business objectives