Key Performance Indicators Framework - A Method to Track Business Objectives, Link Business Strategy to Processes and Detail Importance of Key Performance Indicators in Enterprise Business Architecture

Abstract

Monitoring business objectives has become a challenge for enterprises. Business Strategies and the underlying Business Objectives has to be tracked and monitored for performance so that business stakeholders can make informed decisions. The challenge is to create a framework to identify, define, associate and track Key Performance Indicators (KPI) for effective monitoring of strategy to process linkage. Monitoring strategy execution is one of the critical phases in defining Enterprise Business Architecture and KPI framework is an approach to address the phase effectively. The paper attempts to define a fitment between Composite Enterprise Business Architecture Framework with Business Motivation Model of Business Rules Group and Balanced Scorecard approach, wherein business stakeholders are able to understand how Key Performance Indicators will help link business strategy to business processes, business role players and business products and services. The paper also attempts to define a framework for KPI Classification and relate it to business process hierarchy. The KPI Cycle detailed help enhancing Enterprise Business Architecture effort towards monitoring strategy to processes linkage.

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