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Tying metrics to goals

 

Eric Newcomer suggests the executive sponsor should tie metrics to specific strategies, goals, or programs. “If you can put metrics in the context of a strategy, program, or goal, then you have a way to measure your progress against that goal. For instance, at Credit Suisse we had the goal to eliminate applications that we didn’t need from the environment. Everybody in the investment banking environment knows that 2,200 applications is too many, but nobody knows what the right amount is. Is it a third of that? Half? Since we didn’t really know what the goal should be, we put a stake in the ground and said, ‘We’re going to eliminate 10% this year. What does that do for us?’ Then you evaluate after that year, and refine the goal. Metrics have to be in the context of what you’re trying to achieve so that you have the ability to measure toward the goal on a monthly, quarterly, or annual basis.” 

 



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Subject Matter

Executive Sponsor
 

About the Contributor:

Attributed Author

Eric Newcomer

Eric Newcomer is the Chief Architect for Citi’s Treasury and Trade Services. Before Citi, Eric was Chief Architect for the Investment Banking IT Division at Credit Suisse. Mr. Newcomer was the CTO at IONA Technologies, which specializes in Object Request Brokers. Mr. Newcomer was also a Consulting Engineer at Digital Equipment/Compaq Computer.
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