Targeting performance measures based on performance prediction
International Journal of Productivity and Performance Management
ISSN: 1741-0401
Article publication date: 1 January 2012
Abstract
Purpose
This study aims to investigate the development of predictive tools in performance measurement and management (PMM), and modeling of a forward‐looking method to help managers to quantitatively target performance measures based on achieving desired improvement, minimum cost and strategic priorities.
Design/methodology/approach
A case‐based methodology is used to test the conceptual approach in a production system. Mathematical models are used to model modules of the proposed approach. The proposed approach is applied to an actual conventional power plant unit to show its applicability and superiority over conventional methods.
Findings
The developed system enables managers to develop systematic ways to manage future performance; for example, planning, performance forecasting and target setting. The predictive ability of the developed system is comparable with the judgment of the manager in the case company.
Originality/value
This paper proposes the use of mathematical models in the development of performance measures targeted on performance prediction and desired improvement. The paper also offers practical help to organizations to embed a forward‐looking capability into their operations.
Keywords
Citation
Saidi Mehrabad, M., Anvari, M. and Saberi, M. (2012), "Targeting performance measures based on performance prediction", International Journal of Productivity and Performance Management, Vol. 61 No. 1, pp. 46-68. https://doi.org/10.1108/17410401211187507
Publisher
:Emerald Group Publishing Limited
Copyright © 2012, Emerald Group Publishing Limited