BENCH MAKING. Benchmarking. What A Great Start!. What is Benchmarking?. Benchmarking is the process of measuring one operation against a similar operation for the purpose of improving business processes. OR. Benchmarking is the thing that Audit Committees like you to participate in.
What A Great Start!
Insight -New perspective
Projection of future
Provides areas of focus and opportunities
Breaks down “we do it best” syndrome
Pat on the back from Audit Committee
Lack of stakeholder involvement
Poor up-front planning
Organisation becomes defensive
Misinterpretation of data
Seen as solution-not the starting point
No brownie points from Audit CommitteeBenchmarking
Types of Audits and Time
% Audit Plan Completed
Time Spent on Unplanned