Lifecycle Performance Management is the systematic implementation of an enterprise-wide performance strategy involving all business units, systems and personnel. It is a sequence of management processes, when combined, achieves a complete approach to managing performance from start to finish. Lifecycle Performance Management focuses on all areas that determine the success of an enterprise, including:
- Department / Business Units
- Programs (e.g. implementing organizational policies)
Key components of Lifecycle Performance Management include:
- Integrating key documents into a performance plan
- Aligning performance to organizational goals
- Applying best practices and key performance activities
- Identifying the right metrics
- Developing a plan to act on the results
- Constantly improving the knowledge and performance of your people, processes and technology.
Lifecycle Performance Management includes integrating multiple data sources and understanding what processes make your organization most productive. It involves revisiting core processes and identifying ways to maximize and continuously improve performance.
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What Is Lifecycle Performance Management?