The Basics Of Performance Measurement

You can‘t understand, manage, or improve what you don‘t measureWhile every smart executive now knows the truth of those words, perhaps more so than anyone, it was Jerry Harbour who turned that adage into a science. Originally published in 1997, The Basics of Performance Measurement helped pioneer the science of performance measurement and continues

Many investment books include a chapter or two on investment performance measurement or focus on a single aspect, but only one book addresses the breadth of the field. Investment Performance Measurement is a comprehensive guide that covers the subjects of performance and risk calculation, attribution, presentation, and interpretation. This information-packed book covers a wide range of related topics, including calculation of the returns earned by portfolios; measurement of the risks taken to earn these returns; measurement of the risk and return efficiency of the portfolio and other indicators of manager skill; and much more. By reviewing both the concepts of performance measurement and examples of how they are used, readers will gain the insight necessary to understand and evaluate the management of investment funds. Investment Performance Measurement makes extensive use of fully worked examples that supplement formulas and is a perfect companion to professional courses and seminars for analysts. Bruce J. Feibel, CFA, is Product Manager at Eagle Investment Systems, an investment management software provider located in Newton, Massachusetts. He is responsible for overseeing the development of Eagle's investment performance measurement, attribution, and AIMR/GIPS compliance software. Prior to joining Eagle, Mr. Feibel was a principal at State Street Global Advisors. He earned his BS in accounting from the University of Florida.

Every day on the job, you face common challenges. And you need immediate solutions to those challenges. The Pocket Mentor Series can help. Each book in the series is packed with handy tools, self-tests, and real-life examples to help you identify your strengths and weaknesses and hone critical skills. Whether you re at your desk, in a meeting, or on the road, these portable, concise guides enable you to tackle the daily demands of your work with speed, savvy, and effectiveness. Organizations want--and need--to track the changes in their overall performance. And the divisions, units, teams, and individuals within these organizations engage in similar success measurement. Performance Measurement explains the importance of regularly monitoring your group's performance and introduces formal measurement practices. You'll learn to Apply a disciplined process to performance measurement Set targets and communicate data effectively Use performance management as a coaching and development tool Meet Your Mentor Robert S. Kaplan is Baker Foundation Professor at the Harvard Business School and Chairman of the Practice Leadership Committee of Palladium, Executing Strategy. He has authored or co-authored 14 books, 18 Harvard Business Review articles, and more than 120 other papers.

Identifies the ways that politics enters into the creation of performance measurement systems, the selection of the official and unofficial aims of such systems, the selection of performance criteria and measures, the interpretation of findings, the responses to such findings and the implications of performance reporting.

This sourcebook provides complete, up-to-date coverage of all aspects of performance management -- communication, coaching, measuring, rating, reviewing, and developing. It is a collection of articles from today's most authoritative sources which have been pre-selected and organized by experts to make it easy for you to get the best information on current trends in the field. This is an invaluable resource for those who are designing, managing, and evaluating performance management systems. It links performance management to strategy, and discusses it as an organizational culture change mechanism. The articles and other resources have been carefully selected to emphasize application, which makes this a practical how to sourcebook on all aspects of performance. Also included are ready-to-use, fully reproducible handouts, questionnaires, transparency masters, and other materials to use in presentations and training.

Sets out the fundamental techniques used in analyzing and understanding the performance of computer systems.

Performance measurement and attribution are key tools in informing investment decisions and strategies. Performance measurement is the quality control of the investment decision process, enabling money managers to calculate return, understand the behaviour of a portfolio of assets, communicate with clients and determine how performance can be improved. Focusing on the practical use and calculation of performance returns rather than the academic background, Practical Portfolio Performance Measurement and Attribution provides a clear guide to the role and implications of these methods in today's financial environment, enabling readers to apply their knowledge with immediate effect. Fully updated from the first edition, this book covers key new developments such as fixed income attribution, attribution of derivative instruments and alternative investment strategies, leverage and short positions, risk-adjusted performance measures for hedge funds plus updates on presentation standards. The book covers the mathematical aspects of the topic in an accessible and practical way, making this book an essential reference for anyone involved in asset management.

In order to make sound investment choices, investors must know the projected return on investment in relation to the risk of not being paid. Benchmarks are excellent evaluators, but the failure to choose the right investing performance benchmark often leads to bad decisions or inaction, which inevitably results in lost profits. The first book of its kind, Portfolio Performance Measurement and Benchmarking is a complete guide to benchmarks and performace evaluation using benchmarks. In one inclusive volume, readers get foundational coverage on benchmark construction, as well as expert insight into specific benchmarks for asset classes and investment styles. Starting with the basics—such as return calculations and methods of dealing with cash flows—this thorough book covers a wide variety of performance measurement methodologies and evaluation techniques before moving into more technical material that deconstructs both the creation of indexes and the components of a desirable benchmark. Portfolio Performance Measurement and Benchmarking provides detailed coverage of benchmarks for: U.S. equities Global and international equities Fixed income Real estate The team of renowned authors offers illuminating opinions on the philosophy and development of equity indexes, while highlighting numerous mechanical problems inherent in building benchmarks and the implications of each one. Before you make your next investment, be certain your return will be worth the risk with Portfolio Performance Measurement and Benchmarking.

Financial measures have traditionally been the cornerstone of the perform ance measurement system. In recent years, there has been a shift from treating financial figures as the foundation for performance measurement to treating them as one among a broader set of potential financial measures. Changes in cost structures and the manufacturing and competi tive environment have been responsible for the change of emphasis. In today's worldwide competitive environment companies are compet ing in terms of product quality, delivery, reliability, after-sales service and customer satisfaction. None of these variables are measured by traditional financial measures, despite the fact that they represent the major goals of world-class manufacturing companies. By focusing mainly on financial variables there is a danger that the performance reporting system will motivate managers to focus exclusively on cost reduction and short-term profitability and ignore many of the critical factors that determine long-term business success. The key to success, in today's global economy, is total customer satisfaction. To achieve this, companies must develop performance measures that drive employees to control processes that satisfy customer expectations. In particular, performance measures should provide process-level information that motivates employees to achieve the responsiveness and flexibility that companies require to compete on a global basis. Responsiveness is achieved by building relationships that lead to satisfied customers, suppliers and employees. Flexibility is achieved by reducing output variation in proceSfes; for example, the reduction of lead times and delays are both necessary for sustained competitive excellence and long-term profitability.