Section 002, Instructor: Larry Dignan

Weekly Question #7: Complete by March 27, 2017

Leave your response as a comment on this post by the beginning of class on March 27, 2017. Remember, it only needs to be three or four sentences. For these weekly questions, I’m mainly interested in your opinions, not so much particular “facts” from the class!

Here is the question:

Give an example of a KPI – some sort of metric for performance – that you use on a regular basis? Briefly discuss how it conforms to the SMART criteria.

(For example, my car tells me its average gas mileage. This is specific and measurable – gas mileage is a precise measure. It is achievable – I can alter my driving to try to get better mileage. It’s relevant – gas mileage has an impact on my costs! And it’s time-variant, I can look at gas mileage over a week, or a day, or a month.)

39 Responses to Weekly Question #7: Complete by March 27, 2017

  • Grade Point Average (GPA) is an example of a KPI for students to see how well they are performing in school. It is specific and measurable, as it is on a 4.0 scale, and each class (depending on the credits) factors into the score. It is achievable, as students can increase or decrease their scores by doing better or worse in class. It is relevant, since having a higher GPA causes the student to have more chances to get a scholarship or job opportunities. And it is time-variant since a student’s GPA will change each time a teacher enters new grades (by semester or class schedule).

  • An example of a KPI is the Virtual Wallet app for PNC which tells me my account balance.
    Specific and Measurable: It tells me the precise amount of money I have in my account
    Achievable: I can deposit more money for a specific goal.
    Relevant: It determines whether or not I can withdraw money and whether or not I should deposit money if there isn’t enough funds.
    Time-variant: I can look at my balance over days, weeks, etc.

  • A thermostat is an example of a KPI, which controls and regulates the temperature in a home, building, or facility. It is specific and measurable because it tells me the specific temperature of the room or area. It is typically precise and sometimes can even tell the outside temperature. It is achievable because depending on a specific person, you can change the temperature to meet a person’s needs. It is relevant because depending on the temperature and how much the heat or air is used it impacts the cost of the monthly bill. And lastly, it is time variant because you can track how much you’ve used the thermostat over a period of time, which can help keep track of costs.

  • My fit bit telling me the number of steps I do in a dap is KPI. Steps are specific and measurable because it is a precise measure of the number of steps I took. It is achievable because I can set my goal for the number of steps I want to take in a day and it will vibrate once I achieve my goal. It’s relevant because number of steps taken in a day can be compared to how active or fit I was that day.

  • MyFitnessPal is an app I use to count daily calories.
    Specific purpose – to ensure I meet standard calorie goals for the day
    Measurable – uses exact calories for counting
    Achievable – I have a specific caloric intake goal for the day
    Relevant – it keeps my focused/on track with greater health goals
    Time Phased – it’s a daily process.

  • An example of KPI is the Health App that comes with any iPhone. It has may purposes, such as counting steps, how many flights you climbed, distanced you have walked and much more. If you always have your phone with you, like myself, this is measurable because it is very precise on how many steps I have taken. It is achievable because I know if I have reached my goals in how far and how many steps I have taken. It is relevant because I am always on my phone and can always look and see and because it helps me know if I should walk more or not. I usually check it daily because everyday close to midnight I get a notification on how many steps I have taken so far.

  • A KPI that is incorporated into my lifestyle are the metrics displayed on a treadmill at the gym, specifically distance, time, and calories burned. These are measureable becasue each can be represented as a numeric digit (ex. 0.09 miles traveled, 2:20 minutes of use, and 230 calories burned so far). The metrics are achievable because i can alter my pace to return metics more suitable to my workout plan. The metrics are relevant because distance is directly related to treadmill use since users care to know how far they have ran/jogged/walked to measure exercise milestones and use a uniform measurement for visiting other gyms and using different machines. Lastly, the metrics are time based because health improvements are a daily process and correlate to frequency and severity of exercising.

  • A KPI that I use on a regular basis is the NetPromoter Score at my retail job at the Apple Store. This score is based off a survey sent to customers after they have an interaction with me and helps me to breakdown the quality of the customer experiences I am delivering and how I could improve those delivered experiences. This KPI is specific and measureable because it is based off a series of questions targeted at the performance standard Apple holds me to; but then, these indicators funnel into a single score that measures my experience. This score is also timely because the score updates almost daily, after each customer chooses to fill out a survey. This also gives me time to craft the feedback into improvement. The NetPromoter Score is also relevant because it is based off a survey internationally crafted by Apple to reflect the type of “ideal experience” the company wants me to deliver to customers. And lastly, the score is an achievable KPI because the feedback provided is very specific and actionable and this allows me to achieve an improved delivered customer experience.

  • My alarm clockis an example of a KPI. It’s specific and measurable because I can set spcific alarm time, like seven hours later. It is achievable because it rings at designed time points. It’s relevant it determines my sleeping time. It’s time-variant because the alarm time in weekends is later than in weekdays.

  • The checking account is a KPI. It is specific – which displays specific money that I spent, specific date and time, and specific balance left in account. It is achievable – I can access my account anytime and change my consumption habit to save money. And it is time-variant, I can check my account over a week, a day, or a month.

  • An example of a KPI that I use is called sleep cycle. It is specific and measurable because it measures the exact amount of time that I sleep and it wakes you up after you finish cycles of rem sleep. It is achievable because I can choose what time I want to sleep and what an approximate time that I would like to wake up. It is relevant because waking up during rem sleep will make you wake up groggy. And it is time-variant because you it logs the amount of sleep you get.

  • An example of KPI could be a thermostat. You are able to change the temperature of the room to be warmer or cooler based on your own preference or time of the year. And at the end of the month, the bill reflects how you you interacted with the thermostat. You can also adjust how you interact with it by not changing it and instead add layers of clothing or open a window to change the temperature of the room.

  • The pedometer on my phone that I use through the app My Fitness Pal is an example of a KPI to see how many steps I have taken over a period of time. It is specific and measurable because you can set your goal as the standard 10,000 steps or increase it based on how active your lifestyle is. It is achievable because people should walk on average 10,00 steps per day, but a person can increase the amount of walking they are doing to meet their goal. It is relevant because the amount of physical activity a person does can affect their health in a positive or negative manner. It is also time variant because you can look it over daily, weekly, or monthly.

  • A key performance indicator used by all students is the Grade Point Average. This is a great example of a KPI because he GPA covers all of the SMART criteria:
    Specific- a broad spectrum to valuate an individual’s grades
    Measurable- distinct metrics to approximate one’s grades overall
    Achievable- depicts where you score and clearly defines goals
    Relevant- stays up to date and summarizes your overall grades
    Time Phased- changes every semester

  • My phone telling me how much power in the battery I have left is a form of KPI I use on a regular basis. The color and image of the battery icon is specific and measurable. Charging my phone for more battery life would be achievable. Lastly, It’s relevant to how much use I can get out my phone in a specific timeframe.

  • A form of KPI that I use on a regular basis is the Dow Jones Industrial Average (DJIA). It has a Specific purpose of averaging a number of stocks and consolidating that into a single amount. The DJIA is measurable, as it is a number that measures the average performance of the top companies in our economy. It is achievable, as the it has a start amount and is measured based off of that each day. It is relevant to the success of our economy, though it is an average so it doesn’t necessarily measure each company, but a multitude of them. It fluctuates exponentially during market operating hours.

  • A bit of a silly one but still applicable is in many video games there’s a “Kill:Death” ratio

    Specific and Measurable – It measures exactly how proportional the difference is between number of enemies killed versus the number of times one’s died.
    Achievable – One can alter play style to affect this ratio.
    Relevant – For only a certain subset of people that play a game it’s relevant to let them know how good of a player they are.
    Time Relevant – One can either keep track of it themselves over the entire course of their time playing the game

  • An example of a KPI I use in my daily life is grades in my class. depending on my performance I receive a grade out of 100. I can use that measurement to gauge how well I am performing in a class. This KPI lasts until the end of the class, it is achievable and a measure of success.

  • I manage various social media pages and the obvious KPI’s involved with this are followers, likes and comments. Gaining each of these portrays success in growing popularity and if not, attention.

  • I think a cool KPI to talk about is within the sports industry. Scouts are constantly trying to identify key performance indicators to evaluate players. In basketball for example, metrics like points, assists, rebounds, turnovers, shooting percentages, and minutes are all KPIs to evaluate how well a player is performing.

  • A KPI i use 3 or 4 times a week is the treadmill at the gym. I am trying to burn a specific amount of calories and walk a specific amount of miles. It measures the calories burned and the mileage as well as the time. I set an achievable goal of 250 calories and 1 1/2 miles each time. It is relevant to my goal of being fit. It is time variant, both in the number of times per week and the amount of time I spend on it.

  • Probably the most common KPI we interact with while in college is our GPA. Our grade point average measures our academic performance in class. It is specific because it is specific and measurable as it takes the averages of the grades earned in your class. It is achievable because you can make improvements to your studying habits to improve your GPA. And it is relevant because it measures how well you performed in class and you can compare it against other students GPAs.

  • Checking you credit or bank account has been the most convenience way people can access either their account or credit scores. I personal like to check my credit score through the various app that I have. It is not something that I use most often, but I go on there to see how I am doing. There are many factors that go into how the credit score is formed and they can be considered as the KPIs. According to the SMART criteria, Specific, Measurable, Relevant and Time-bound would relate to the KPI that form the credit score. Specific because the score lets you know where you stand on the scale, Measurable because they provide you the score every month, Relevant because credit scores are important to know since based on the score, you can tell if you are doing well or not and Time bound since the score changes every month.

  • I started a business and I am focusing on increasing traffic to my website. I built my website, setup my social media platforms and created a YouTube channel to provide content to my targeted audience. Now that I setup these online channels I want to track how the market responds to each action or post. The goal is to convert page views into new clients and this is specific, measurable, relevant and actionable. The time frame has not be identified because I would like to have an increase in clients today. This takes time and work on my part to improve SEO rankings and capture more awareness. I have been able to reach a few hundred page views that I have been tracking with google analytics. I will double my page views by April 26, 2017 and convert 10% of those views into a phone call, email or face to face meeting. Of this 10%, I will convert 10% of those interaction into new clients contracts.

  • The first KPI that comes to mind that is relevant to everyday life would be personal Net Income. It is easily measurable and time-variant, can be measured on a monthly or annual basis. Also it is relevant to everyone as your income will determine how you spend your time and money. Also achievable, as most people have goals that are money oriented.

  • Sports teams use contract incentives as KPIs all the time. Whether it be about a players weight, performance, or other incentives, these bonuses within a contract act as KPIs for the athlete. Whether they meet all of them determines their full contract value.

  • A KPI that I use frequently is the steps tracker on my iPhone. It is a SMART KPI because

    S: It is specific because I set a goal I want to accomplish for the week. If I fall short of it, I fail, if I reach or exceed it, I succeed.
    M: It is measurable because the pedometer counts the total # of steps I take and breaks it up into days/weeks.
    A: It is achievable because I gradually increase my steps goal and adjust it to how busy my weeks are, but always have a baseline I do not want to go below to make sure I am moving around
    R: It’s relevant because I want to make sure I don’t live a sedentary life, especially when I am busy. A pedometer gives me an accurate gauge of this.
    T: It’s time-specific because I measure success on a weekly basis.

  • A KPI that is used by me nearly every day is my GPA. It is both specific and measurable as It is has a scale which can go up to 4.0 and all of my performance in classes factor into it. The GPA is achievable because my individual achievements in class decide what it becomes. It is relevant as it is used by the university to judge my progress in classes and whether or not I am achieving the grades I need to. And it is time sensitive as it changes with each grade that is entered into the gradebook.

  • One common KPI that we use is grades. It is a SMART KPI because
    S: it is specific because for each letter grades, it has specific requirements.
    M: It is measurable because for each letter grade it has a number range.
    A: It is achievable because I can get different letter grades depending my behavior in the class and exams.
    R: It is relevant because it may affect my GPA and further will affect my application for a job or graduate school.
    T: It is time-specific because it is measured in a semester basis.

  • A KPI that I use is my GPA. This is a reasonable one because it is standardized for the whole business school so it is a basic guideline for performance. It is available and achievable for everyone so it adds on to the factor of basic guidelines. My GPA has time concept applicable to it because it is specific to each semester as well as the whole four years itself. And finally it can be measured with numerical values and have various distributions.

  • A KPI that I use on a regular basis is treadmill. It is specific because I put it at a specific speed and then it measures the distance, time and amount of calories while I am running/walking. It is achievable because I set a goal for myself to go a certain distance in a certain amount of time. It is relevant because it helps me stay healthy and fit. It is time-phased because it depends how many times a week I use the treadmill and how long I spend on it.

  • An example of a KPI is my GPA I receive for my grades per class. The KPI is specific as it is the most accurate measure of a students grades. It is measurable as you can give a value to the student based on their work. It is achievable because students can either increase or decrease their GPA based on how they do in their classes. GPA is most relevant to a student because this is a huge factor in determining how they will get a job outside of school. The time-specific requirement is fulfilled since it is measured on a semester basis. I go to classes everyday and in each class I get a grade that is used as an input to my GPA on a daily basis.

  • One example of an effective KPI is a student’s grade point average (GPA). It works very well with the smart criteria. It is both specific to the semester and measurable to one’s grade. It can be achievable since a person can work towards a higher GPA, and relevant because it is a major factor in getting a stable career position after college. As far as time specific it can be limited to one semester or over a student’s entire college career.

  • The amount of invoices I process in a certain work period is a good KPI
    Specific – Many invoices are similar and therefore it is a specific task
    Measurable – A simple numerical count of invoices processed
    Achievable – I have a number in my head (about 15 invoices an hour) that I can reach
    Relevant – Since I work in accounts payable it is vital that the invoices get input and processed in a speedy and accurate fashion
    Time – The quicker I process invoices the quicker we can pay vendors and perhaps get discounts on our purchases

  • My New Year’s resolution was to keep hydrated and drink more water, so I’ve been tracking my daily water intake on my phone.
    Specific – my water bottle holds 17oz of water, and each entry I make means I’ve consumed that amount
    Measurable – ^the numbers are whole and easy to add at the end of the day
    Achievable – my goal is to drink the recommended 64oz per day, which means I need to refill my water bottle 3 3/4 times.
    Relevant – water is good for you! Staying hydrated is important
    Time – I track this on a daily basis, but it has been encouraging to see that it is becoming more of a habit as I stick to it.

  • One example of a KPI is a Grade Point Average (GPA)
    S: it s specific because there are certain requirements for lettered grades
    M: this is measurable because it tracks a student’s grades in all of their classes
    A: this is achievable because not every student will have the same GPA
    R: this is relevant because it can affect a person’s future job prospects
    T: this has do with time because it measured over a person’s whole college career

  • Even though this seems to be the general topic of discussion in this weekly question, GPA is an obvious KPI as it is easily measured through assignments. Its very specific because it breaks things downs through percentages.

  • One important KPI example that I use all the time is the gas mileages of my car, it gives me an idea of actual gas efficiency as well as vehicle condition and style of driving, among other factors, can influence mileage.
    Specific: Record the amount of gas it took to refill the tank.
    Measurable: actual gas efficiency, measured in mileage (mpg or kpg)
    Achievable: you get different MPGs depend on whether driving highway or local.
    Relevant: The higher the MPG the higher efficiency use of gas, and it is fairly accurate.
    Time: the faster you drive you less mpg efficiency you get.

  • A very common form of KPI in a college student’s life is GPA. It is easily measured by grade weighting and calculation, it is specific, it has the capability to be achievable through course work, it is based on time as it is measured over a college career, and as any college student would agree, it is extremely relevant given the impact it has on one’s future.

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