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FP&A Systems

Performance Measurement Vs Performance Management

by Michael Coveney, co-author of "Budgeting, Planning, and Forecasting in Uncertain Times"

How do you think performance is  measured at the Olympics Games by the teams involved?   The number of gold medals?  The number of world records?

Now come back a few years to when a team is preparing for the games. How is performance going to be managed?   You can be sure it won’t be in terms of the number of medals they hope to win. Instead, the focus will be on the type of training being given, the diets being prepared, the way in which equipment and facilities are being used. To ensure these activities can take place, budgets and other resources are allocated to the appropriate activities. In short, the focus is on the process of preparing the athlete and not on the outcomes they hope to achieve...

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