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Key Performance Indicator
A key performance indicator is a numeric measure of progress toward a defined goal or objective.
A key performance indicator is a numeric measure used to evaluate progress toward a defined goal or objective. In property operations, its usefulness depends on a clear connection between the measure and the outcome being managed.
A KPI may combine several metrics into a relationship that describes performance, condition, or efficiency. Selecting an indicator requires deciding what it measures and how that measurement supports the operating goal.
Source: Pacific Northwest National Laboratory: Applying key performance indicators.
Frequently Asked Questions
Is every number in an operations report a KPI?
A KPI is selected to evaluate progress toward a defined objective. A number without that connection is simply a metric or observation.
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