The conventional approach to selecting performance metrics can be haphazard. This excerpt from Graham Kenny's book "Strategic Planning and Performance Management: Develop and Measure a Winning Strategy" (Elsevier, 2005) outlines a simpler method.
The conventional approach [to performance management] is to set objectives as a single block, not categorized by key stakeholders. This doesn't work because you need to write separate strategies for customers, for employees, for suppliers, for owners, and so on. How can a link be established between strategy for employees, for example, and results on a set of objectives if that set isn't classified according to key stakeholder? The answer is, it can't. Obtaining results on objectives via particular strategy becomes, in the conventional approach, a guess at best, but more likely a leap of faith. In response to this nonsensical situation, faced by most organizations, I developed a fresh approach.
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