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Performance

Key Performance Indicator KPI)

The level of productivity or efficacy achieved or expected of an asset in order to meet the organization's objectives. The return on asset (ROA).

For example:

  • The pump needs to run 24 hours every day in order to bring water to the suites.
Alignment across different decision-making criteria (such as risk, cost and performance) is required for ISO 55000 conformity
Fig. Alignment across different decision-making criteria (such as risk, cost and performance) is required for ISO 55000 conformity.


Subjectivity and bias always play a role when people are involved in decision-making
Fig. Subjectivity and bias always play a role when people are involved in decision-making around risk, cost and performance.




See also: