Common use of Benchmarking and Best Practices Clause in Contracts

Benchmarking and Best Practices. Benchmarking is a powerful management technique that can be used to improve an organization’s performance by searching for a partner organization that is the best at a given process and constantly adapting or adopting the partner’s practices to increase performance (Xxxxxxx, 1994). The process to be benchmarked is usually determined by analyzing performance figures and other data. A process that has relatively low performance figures and could be improved is often chosen to be benchmarked. Demand for benchmarking comes from several sources, such as increasing enforcement activity, regulations, investor and liability concerns, customer perceptions, and competition with other organizations. The results of effective benchmarking include increased productivity, efficiency, employee morale, and a competitive advantage. The benchmarking process can be divided into five stages: Planning, analysis, integration, action, and maturity. During the planning stage, the organization identifies the process that needs to be benchmarked. This selection is usually done to fulfill a predetermined need, such as boosting performance figures in an area that needs improvement. Measurable performance variables are also identified. Benchmarking partners are selected based on their best-in-class performance in the targeted process. The partner does not necessarily have to be in the same industry. The organization concludes the planning stage by determining the data collection method and collecting the data. It is important for the organization to be able to distinguish between ethical and unethical means of data collections, especially if it involves handling sensitive information from the partner company. During analysis, the organization determines the current performance gap for the process that will be benchmarked. The team then predicts future performance levels. The integration stage involves the organization communicating their benchmark findings. Communication is crucial during this phase of benchmarking, especially when seeking approval from those with more organizational authority. Operational goals and plans are established from the benchmarking findings. The action stage is characterized by implementing practices, monitoring progress and results, comparing results to stakeholder needs, and adjusting the benchmark goals as necessary. Since benchmarking is a continuous process, the last step will certainly be repeated as industry standards and the needs of stakeholders change over time. A benchmarking process reaches the maturity stage after the best practices are fully implemented into the targeted process. While benchmarking begins with management, the employees involved in the process are the ones who ultimately integrate the new process. Xxxxxxx, X. X. (1994). Environmental benchmarking for performance excellence, Federal Facilities Environmental Journal, 5(1), 53-63.

Benchmarking and Best Practices. Benchmarking is a powerful management technique that can be used to improve an organization’s performance by searching for a partner organization that is the best at a given process and constantly adapting or adopting the partner’s practices to increase performance (Xxxxxxx, 1994). The process to be benchmarked is usually determined by analyzing performance figures and other data. A process that has relatively low performance figures and could be improved is often chosen to be benchmarked. Demand for benchmarking comes from several sources, such as increasing enforcement activity, regulations, investor and liability concerns, customer perceptions, and competition with other organizations. The results of effective benchmarking include increased productivity, efficiency, employee morale, and a competitive advantage. The benchmarking process can be divided into five stages: Planning, analysis, integration, action, and maturity. During the planning stage, the organization identifies the process that needs to be benchmarked. This selection is usually done to fulfill a predetermined need, such as boosting performance figures in an area that needs improvement. Measurable performance variables are also identified. Benchmarking partners are selected based on their best-in-class performance in the targeted process. The partner does not necessarily have to be in the same industry. The organization concludes the planning stage by determining the data collection method and collecting the data. It is important for the organization to be able to distinguish between ethical and unethical means of data collections, especially if it involves handling sensitive information from the partner company. During analysis, the organization determines the current performance gap for the process that will be benchmarked. The team then predicts future performance levels. The integration stage involves the organization communicating their benchmark findings. Communication is crucial during this phase of benchmarking, especially when seeking approval from those with more organizational authority. Operational goals and plans are established from the benchmarking findings. The action stage is characterized by implementing practices, monitoring progress and results, comparing results to stakeholder needs, and adjusting the benchmark goals as necessary. Since benchmarking is a continuous process, the last step will certainly be repeated as industry standards and the needs of stakeholders change over time. A benchmarking process reaches the maturity stage after the best practices are fully implemented into the targeted process. While benchmarking begins with management, the employees involved in the process are the ones who ultimately integrate the new process. “Xxxxxxx, X. X. (1994). Environmental benchmarking for performance excellence, Federal Facilities Environmental Journal, 5(1), 53-63.”

Benchmarking and Best Practices. Benchmarking is a powerful management technique that can be used to improve an organization’s performance by searching for a partner organization that is the best at a given process and constantly adapting or adopting the partner’s practices to increase performance (Xxxxxxx, 1994). The process to be benchmarked is usually determined by analyzing performance figures and other data. A process that has relatively low performance figures and could be improved is often chosen to be benchmarked. Demand for benchmarking comes from several sources, such as increasing enforcement activity, regulations, investor and liability concerns, customer perceptions, and competition with other organizations. The results of effective benchmarking include increased productivity, efficiency, employee morale, and a competitive advantage. The benchmarking process can be divided into five stages: Planning, analysis, integration, action, and maturity. During the planning stage, the organization identifies the process that needs to be benchmarked. This selection is usually done to fulfill a predetermined need, such as boosting performance figures in an area that needs improvement. Measurable performance variables are also identified. Benchmarking partners are selected based on their best-in-class performance in the targeted process. The partner does not necessarily have to be in the same industry. The organization concludes the planning stage by determining the data collection method and collecting the data. It is important for the organization to be able to distinguish between ethical and unethical means of data collections, especially if it involves handling sensitive inside information from the partner company. During analysis, the organization determines the current performance gap for the process that will be benchmarked. The team then predicts future performance levels. The integration stage involves the organization communicating their benchmark findings. Communication is crucial during this phase of benchmarking, especially when seeking approval from those with more organizational authority. Operational goals and plans are established from the benchmarking findings. The action stage is characterized by implementing practices, monitoring progress and results, comparing results to stakeholder needs, and adjusting the benchmark goals as necessary. Since benchmarking is a continuous process, the last step will certainly be repeated as industry standards and the needs of stakeholders change over time. A benchmarking process reaches the maturity stage after the best practices are fully implemented into the targeted process. While benchmarking begins with management, the employees involved in the process are the ones who ultimately integrate the new process. “Xxxxxxx, X. X. (1994). Environmental benchmarking for performance excellence, Federal Facilities Environmental Journal, 5(1), 53-63.”