4. Benchmarking

Question 1

Benchmark

P. 45

Answer 1

Benchmark is the recognized or accepted measurement value that established the best performance for a given process.

Question 2

Types of Benchmarking

P. 47

Answer 2

• Best Practice
• Competitive
• Collaborative (between various organizations to achieve benchmarking results
• Breakthrough (make organizations aware of what’s possible and achievable)

Question 3

Benchmarking Types Summary

P. 48

Answer 3

• Internal Benchmarking (similar process withing the same company)
• Competitive Benchmarking (recognized and forces organization to take an external perspective)
• Process Benchmarking (compare outside the organization)

Question 4

Benchmarking Methodologies

P. 49

Answer 4

• Westcott (2014)
• Camp (1993)
• Munro (2008)
• APQC (2014- TBD)

Question 5

Dangers of Benchmarking

P. 49

Answer 5

• Not Piloted
• No Time
• No Money
• No Manpower
• Incompatible System

Also consider

• Culture, norms, and history
• Exposed to potential breaches of confidentiality

Question 6

Benchmark

P. 53

Answer 6

Ultimate measure of success. Breakthrough improvement goals, or meaningful and defensible targets and goals.

Question 7

Target

P. 54

Answer 7

Intermediary goal that lies between the goal and the benchmark (stretch goal).