OPM.SP 1.1 Maintain Business Objectives
Summary
Maintain business objectives based on an understanding of business strategies and actual performance results.
Description
Organizational performance data, characterized by process performance baselines, are used to evaluate whether business objectives are realistic and aligned with business strategies. After business objectives have been revised and prioritized by senior management, quality and process performance objectives may need to be created or maintained and re-communicated.
Example Work Products
- Revised business objectives
- Revised quality and process performance objectives
- Senior management approval of revised business objectives and quality and process performance objectives
- Communication of all revised objectives
- Updated process performance measures
Subpractices
1. Evaluate business objectives periodically to ensure they are aligned with business strategies.
Senior management is responsible for understanding the marketplace, establishing business strategies, and establishing business objectives.
Because business strategies and organizational performance evolve, business objectives should be reviewed periodically to determine whether they should be updated. For example, a business objective might be retired when process performance data show that the business objective is being met consistently over time or when the associated business strategy has changed.
2. Compare business objectives with actual process performance results to ensure they are realistic.
Business objectives can set the bar too high to motivate real improvement. Using process performance baselines helps balance desires and reality.
If process performance baselines are unavailable, sampling techniques can be used to develop a quantitative basis for comparison in a short period of time.
3. Prioritize business objectives based on documented criteria, such as the ability to win new business, retain existing clients, or accomplish other key business strategies.
4. Maintain quality and process performance objectives to address changes in business objectives.
Business objectives and quality and process performance objectives will typically evolve over time. As existing objectives are achieved, they will be monitored to ensure they continue to be met, while new business objectives and associated quality and process performance objectives are identified and managed.
5. Revise process performance measures to align with quality and process performance objectives.