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Performance Evaluation

Performance Evaluation. Types of Evaluation. Comparison budget to actual Variance analysis Return on investment Residual Income Management by objectives Economic Value Added 360° Feedback Balanced Scorecard. Economic Value Added. Find after-tax operating income for division

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Performance Evaluation

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  1. Performance Evaluation

  2. Types of Evaluation • Comparison budget to actual • Variance analysis • Return on investment • Residual Income • Management by objectives • Economic Value Added • 360° Feedback • Balanced Scorecard

  3. Economic Value Added • Find after-tax operating income for division • Revisions - capitalize R & D • Apply weighted cost of capital as a charge • Analyze if positive or negative, helping the firm or not

  4. Single Source Evaluation • May be biased • May be self-serving • Politics, favoritism • Evaluator may have only limited observation • Less rigor • Not as willing to confront non-performers

  5. 360° Feedback • Multi-source • Tap collective intelligence • More impact • More valid in any legal proceedings

  6. Benefits of 360° • Gives all a say • Supervisor • Peers • Subordinates • Internal and External customers • More information • Anonymous • Better evaluates teams • May give SWOT insight

  7. Uses of 360° • For employee development • Employee appraisal • Increases accountability • Highlights critical competencies • Legal protection • Quality improvement • Process reengineering

  8. How to Do 360° • Corporate Culture requirements • Process Design • Develop survey • Process Implementation • Training • Prototype • Safeguards • Process Evaluation • Stepped implementation

  9. Balanced Scorecard • Aligns performance with vision • Uses hard to manipulate measures

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