How Benchmarking Is Done?

How Benchmarking Is Done?

1 Answer

  1. The process to be benchmarked is the cornerstone of the whole benchmarking process because an incorrect identification at this step could result in a waste of precious resources at further steps. Next is to determine which organizations should be studied whose practices can be adapted to the requirements. Third step involves creating a plan for collecting adequate data from selected targets by conducting site visits and creating a site visit report. The correct implementation of this step will result in accurate and relevant data that can be used directly to enhance the organization’s performance. Analyzing the data collected is the next step, this involves discovering to what extent present performance lags behind the best in each field and combining the best features from the best practices into an ideal process. Important is to determine future trends which will tell the quantitative benefits of implementing the proposed benchmarking changes. Establish clear-cut goals and action plans and execute the approved best-practice procedures and day-to-day monitor the changes.

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