key performance indicators explained | Its Simply Key Performance Indicators :)
@M&E Made Simple
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kpi meaning? how do we really get to understand what key performance indicators really are? In monitoring and evaluation, kpis play a very important role. For starters, if you want to get to know whether a project is making any progress in the implementation of activities, there is need to have indicators which will help you measure the level of progress. Sometimes, it can be challenging measuring progress because the key performance indicators may be poorly defined. A kpi is supposed to be SMART meaning it should be specific, measurable, attainable, realistic and time bound. In monitoring and evaluation this is very crucial regardless of the situation. Lets briefly understand what the word SMART really means. Before i begin to describe, i would like you to subscribe to this monitoring and evaluation channel in order to get all the latest updates just incase you haven't done so already.
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So what are SMART kpi? or SMART Key performance indicators?
S= Specific, An kpi that is specific is one that is not broadly defined but explains to the reader what it really is at a deeper level. For example, a specific key performance indicator could be "level of income earnings per month". Why is this specific? because if you just said level of income, it would be too broad. Are we talking about level of income per day, per week or per month? Are we talking about level of income every year or for the past 3 years? it is broad.
M= Measurable A kpi should be measurable. This means that you should be able to quantify it and be able to know whether progress has been made or not. Take for instance, "level of income" can easily be measured.
For further understanding for the rest of the letters A R T, watch some of my videos to get to fully understand what SMART indicators really are.
Regards
COACH ALEXANDER