Lag and Lead
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| − | Lag and lead indicators, are what is known as Key Perfomance Indicators (KPI). According to the british standard "Program Management: "Managing Successful Programmes“", a Key Performance Indicator (KPI), is a metric (either financial or non-financial) that is used to set and measure progress towards an organisational objective. <ref>[https://ebookcentral-proquest-com.proxy.findit.dtu.dk/lib/dtudk/reader.action?docID=4462753 ''Managing Successful Programmes 2011 Edition'', AXELOS and Office Cabinet, August, 2011]</ref>. A lead indicator, is an indicator which is forward looking. Meaning it attempts to show a future perfomance. These indicators can be difficult to determine, as they are prone to subjectivity and error, and can cause debate as to the validity of the lead indicators measured. <ref>[https://www.intrafocus.com/lead-and-lag-indicators/ ''Lead and Lag Indicators'', Intrafocus, Last visited: 14/02/21]</ref>. | + | Lag and lead indicators, are what is known as Key Perfomance Indicators (KPI). According to the british standard "Program Management: "Managing Successful Programmes“", a Key Performance Indicator (KPI), is a metric (either financial or non-financial) that is used to set and measure progress towards an organisational objective. <ref>[https://ebookcentral-proquest-com.proxy.findit.dtu.dk/lib/dtudk/reader.action?docID=4462753 ''Managing Successful Programmes 2011 Edition'', AXELOS and Office Cabinet, August, 2011]</ref>. A lead indicator, is an indicator which is forward looking. Meaning it attempts to show a future perfomance. These indicators can be difficult to determine, as they are prone to subjectivity and error, and can cause debate as to the validity of the lead indicators measured. <ref>[https://www.intrafocus.com/lead-and-lag-indicators/ ''Lead and Lag Indicators'', Intrafocus, Last visited: 14/02/21]</ref>. Lagging indicators measure historical perfomance, and tends to focus on outcomes. This makes them easy to record, and their essential for charting progress, however they do not influence the future as lead indicators do. |
In project, program and portfolio management, realising the potential of lag and lead indicators, can be a vital part of being a succesful PM. | In project, program and portfolio management, realising the potential of lag and lead indicators, can be a vital part of being a succesful PM. | ||
Revision as of 23:09, 14 February 2021
Jacob Lützhøft Christensen s184113
Lag and lead indicators, are what is known as Key Perfomance Indicators (KPI). According to the british standard "Program Management: "Managing Successful Programmes“", a Key Performance Indicator (KPI), is a metric (either financial or non-financial) that is used to set and measure progress towards an organisational objective. [1]. A lead indicator, is an indicator which is forward looking. Meaning it attempts to show a future perfomance. These indicators can be difficult to determine, as they are prone to subjectivity and error, and can cause debate as to the validity of the lead indicators measured. [2]. Lagging indicators measure historical perfomance, and tends to focus on outcomes. This makes them easy to record, and their essential for charting progress, however they do not influence the future as lead indicators do.
In project, program and portfolio management, realising the potential of lag and lead indicators, can be a vital part of being a succesful PM.
Reference link: team, human behaviour, Stephen Covey
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References
Examples
- ↑ Managing Successful Programmes 2011 Edition, AXELOS and Office Cabinet, August, 2011
- ↑ Lead and Lag Indicators, Intrafocus, Last visited: 14/02/21
- ↑ Hudson, Organisational Change Management, November, 2014
- ↑ [Kotter J.P. (1996) Leading Change, BOSTON, Harvard Business School Press]
