Benchmarking delivers the following critical benefits for organisations looking to improve the performance of their key corporate functions.
1. Assessment, and Benchmarking encourages continuous improvement because it helps to create or renew a culture of transparency, clarity and accountability by enabling periodic measurement against an initial baseline.
2. Assessment, and Benchmarking cultivates a shared language between and within organisations. By building a standard set of terms and definitions of key elements in business processes linked to its strategy, the organisation empowers its employees to share a common understanding about the benefits of moving from the current state to the future state.
3. Assessment, and Benchmarking supports transformation and change programs because it allows organisations to create a prioritised roadmap of improvement initiatives specific to its context and relative to its strategy, goals and vision, which support a business case for change and transformation.
4. By taking a baseline of Organisational Project Management (OPM) capability, you state to your stakeholders that you are mitigating risk by increasing BI, reducing uncertainty, and taking improvement seriously. Baselining internally and externally ensures that the leading practice, already present in the organisation, is capitalised upon; that systemic issues are identified and addressed; and that a healthy competitive spirit drives improvement.
5. Assessment, and Benchmarking directly supports higher performance because it allows organisations to set challenging goals based on existing best practices of other companies or other internal divisions.
6. Assessment, and Benchmarking allows organisations to focus on “real” performance issues by identifying organisation’s strengths and weaknesses in comparison to other organisations.
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