What is KPI??

KPI are objectives to be targeted that will add the most value to the business Definition: KPI are quantifiable measurements, agreed to beforehand, that reflect the critical success factors of an organization.

Characteristics of KPI
Quantitative: They can be presented in form of numbers. Practical: They integrate well with present company processes. Directional: They help to determine if a company is getting better. Actionable: They can be put into practice to effect desired change.

SMART KPI
Specific purpose for the business Measurable to really get a value of the KPI, Achievable, Relevant to the success of the organization, Time phased

Relation between KPI and Process

KPI is used to measure and control the performance of any given process. The performance of business processes is measured and monitored in terms of Key Performance Indicators (KPIs). KPIs are monitored continuously while the process is executed. If there is any violation detected in the KPI of a process then adjustments are made to the process.

Relation between KPI and Quality

Quality - important competitive advantage of businesses. Quality - main strategic priority of the firms. Optimal quality - solid information, accurate problem identification, and rigorous analysis It also depends on the ability to measure and remeasure performance. And to measure the performance and progress we need Key Performance Indicators which will consistently be monitored.