Topics: Management, Best practice, Strategic management Pages: 4 (797 words) Published: February 25, 2013
What to benchmark?

* The choice of processes should be in line with the institution’s profile, mission and organisational developments. In all cases, it is crucial to have a clear understanding of problems and, based on needs, to prioritise them, so that a realistic benchmarking exercise with adequate resources can be launched.

Step 1: Identify Opportunities and Prioritize (What to Benchmark) – The involvement of top management in this particular step is crucial. Top management must decide which processes are critical to the success of the company. This should be the top down approach of selecting the projects from the processes. Once a shortlist of processes to be benchmarked is ready, the processes need to be prioritized as per a predetermined set of criteria to fulfill the requirements of all customers, especially the end customer. Customers’ ciritcal-to-quality (CTQ) requirements are studied properly to prioritize the processes.

Document the current process. Without up-to-date knowledge of the current process: a. Time and resources can be wasted collecting process documentation and data that already exists. b. The project may lack focus, purpose and/or depth.

c. Benchmarking visits may appear to be random exercises in information-gathering. d. The team could select a partner whose performance is actually worse than that of its own organization. e. Collected benchmarking data will be difficult to compare “apples to apples” in terms of process requirements.

How benchmarking is being used:

1. Is this process important to our customers?
2. Would improvements in this process support our business goals and objectives? ( vision , mission statements ) critical activities. Critical success factors. Ex: Two Life Insurance...
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