Personal Performance Measuring: How to Develop Personal KPI

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Trying to develop personal KPI is very much the same as a business KPI. The only difference is that it depends upon an individual's personal key areas that needs to be assessed and measured. Check additional information about develop personal kpi.

When trying to develop personal KPI, there is no need to be confused just because we think Key Performance Indicators are only for businesses. The reason why there is a Personal Balanced Scorecard or PBSC is the same as why we have a Personal Key Performance Indicator.

It is not a myth that all of us have our own problems and personal issues that needs attention and at one point in our lives, we just want to turn it all around and make it better. There is a saying that "If you fail to plan, you plan to fail" , and this saying is very applicable to those who wants to make their lives turn out the way they want it to be but does not have any concrete plan or strategy to do so. This results to inconsistency and failure. No matter how much we try to deny it, we need plans, we need objectives, and we need a focus. So what does wanting to develop personal KPI have to do with this? Simple, but before we get there, let me explain first what you need to take into consideration when trying to develop personal KPI:

1.Formulate your objectives.

- It obviously does not make sense to plan for nothing. As I have said a while ago, you need objectives before you will be able to come up with a plan. Make sure that these objectives will align with your vision, mission, strategy and objectives.

2.Know the components of a Key Performance Indicator.

- To develop personal KPI , you have to know what are the components that make up a real KPI first. There are four ingredients that makes up a good KPI:

a.Objective <- This tells what you want to do.

b.Measurement <- This is about what measurement do you want to use.

c.Target <- Tells what you want to achieve and when do you want it achieved.

d.Initiative <-This defines the set of actions that should be done to achieve your target.

3.Cascade the KPIs.

-You may say, this may not sound like a way to develop personal KPI but this is necessary if you want to have full use of your PKPI, otherwise, what good will it do? The success you will attain in each area will sum up your general achievement.

4.Track the KPI.

- You are not done trying to develop personal KPI if you are not going to track it. Since you are developing a personal KPI, think of a way for you to be able to monitor your performance. It could be a simple hanging chart on the wall or just make it a habit to check it weekly. Some people even have images of their performance tracking as their computer wallpapers.

Why do you need to develop personal KPI and what benefits can you possibly get? The thing is, if you have a KPI, your actions and the measures you use will be quantifiable. This will then result into performing clearer actions. Clearer actions spell clearer goals. Another thing is that, when you develop personal KPI , you will be able to determine which aspect or area of your life needs more attention. Are you neglecting your friends and family because you are getting so focused towards your career advancement? Do you spend enough time with your kids as much as you spend time with your work? These are just some of the things you will be able to assess, and it all depends upon your performance measurement.

If you are interested in develop personal kpi, check this link to find out more about personal balanced scorecard. Also, you can check other articles in BSC Guides category.

Balanced Scorecard Toolkit includes step-by-step manuals, documents, presentations, check lists designed to help business professionals with successful development and implementation of Balanced Scorecard. Learn more about BSC Toolkit.