Objectives are desired outcomes. The progress toward attaining an objective is gauged by one or more measures. As with perspectives, there are causal relationships between objectives. In fact, the causal relationship is defined by dependencies among objectives. So, it is critical to set measurable, strategically relevant, consistent, time-delineated objectives. Measures are the indicators of how a business is performing relative to its strategic objectives. Measures, or metrics, are quantifiable performance statements. As such, they must be:• Relevant to the objective and strategy. • Placed in context of a target to be reached in an identified time frame. • Capable of being trended.• Owned by a designated person or group who has the ability to impact those measures.An organization is likely to have a variety of types of measures. Some will be calculated from underlying data. Others will be aggregated index measures that assign different weights to multiple contributing measures. Some are frequently measured and others may only be measured on a quarterly or annual basis.
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