What is a key performance indicator?
A key performance indicator (KPI) is a measure that allows defining how well or bad a company or its staff performs and whether or not they will be successful in reaching established goals. Use of KPIs is critical to business success. Without real KPIs any organization won't perform to its maximum. Key performance indicators are essential for your media organization where performance of media workflows and projects is the driving force for success.
How to choose KPIs?
If your media company uses wrong KPIs, it won't succeed. KPIs will be effective and bring positive results if they are selected according to specificity of media industry. Here's a list of requirements that KPIs should meet in order to be applicable to your media company:
- KPIs reflect goals of your organization
- KPIs are determined by senior management
- KPIs provide context
- KPIs are applicable to all organizational levels (departments)
- KPIs are easy to understand
- KPIs stimulate to actions
Examples of KPIs for your media organization
Taking into account the listed requirements, there can be outlined several examples of performance indicators for your media organization.VIP Task Manager will offer you powerful functionality to implement the following performance indicators:
- Time management KPI. This measure will allow managing working hours of you employees better. By using VIP Task Manager , you can set such task parameters as Estimated Time (ET) and Actual Time (AT) and create ratio between them (ET vs. AT). Custom Fields functionality of VIP Task Manager will let create formula to calculate this performance indicator. Any department of your media company can use this KPI for the purpose of revealing productivity gaps and finding ways to improve work time management.
- Task management KPI. When you want to get more results from your employees, you need to improve the use of working hours as well as to track current statuses of tasks and get average completion status per employee.VIP Task Manager allows comparing tasks by status with the help of Charts Panel and displaying average completion status in common task list.
These two KPIs are equally applicable to all departments and employees of any level in your media company. Time management and task management are integral parts of successful workflow management. Custom Fields functionality of VIP Task Manager allows you building many different performance indicators to measure tasks and workflows and to improve utilization of media resources.
- Step 1: Criteria for choosing software solution for media organization
- Step 2: Organizing media company staff
- Step 3: Workflow management solution for media organization
- Step 4: Task customization in workflows of media organization
- Step 5: Planning tasks in workflows of media organization
- Step 6: Sharing tasks in workflows of media organization
- Step 7: Tasks and documents in workflows of media organization
- Step 8: Tracking tasks in workflows and projects of media organization
- Step 9: Reporting tasks in workflows of media organization
- >> Step 10: Managing KPIs in workflows of media organization