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PMsP-sample-MGT437 - P a g e |1 Performance Measurement...

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P a g e  | 1 Performance Measurement Paper University of Phoenix Project Management MGT/437 Professor Ron Hill
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P a g e  | 2 Performance Measurement Paper Many businesses have engaged in performance measurement to help their organization structure. There are several types of performances measurements that are used to define an organization’s objectives. For example; there are performance measurements that are used in schools for exams. Also, performance measurements are used in sports for athletic abilities. Organizations use different types of performances measurements; however, there are three types of performance measurements that have similar and difference between the three. The performance measures are: Balanced Scorecard; Performance Prism; and Cambridge Performance Measurement Process. In many ways Balanced Scorecard, Performance Prism, and Cambridge Performance Measurement Process are similar. Each performance measurements have an approach toward strategic management, and designed for business wide implementation. Also, each performance measurements have a dialogue that indicates how each measures work. Balanced Scoreboard is one of the popular performance measurements that are used for strategic planning. Balanced Scoreboard is implemented to improve the focus on strategy and results. “The balanced scorecard has evolved from its early use as a simple performance measurement framework to a full strategic planning and management system.” (Balanced Scorecard Institute, 1998- 2008). Performance Prism also delivers the improvement on the organizational strategy and results. “They have defined what strategies they will pursue to ensure that value is
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