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benchmarking
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Definitions of benchmarking in various dictionaries:
BENCHMARKING - Benchmarking is comparing ones business processes and performance metrics to industry bests and best practices from other companies. In project manag...
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| Possible Dictionary Clues |
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| Present participle of benchmark. |
| evaluate (something) by comparison with a standard. |
| the act of measuring the quality of something by comparing it with something else of an accepted standard: |
| the use of something as a standard in order to improve your own work, products, or processes: |
| A standard or point of reference against which things may be compared. |
| A surveyor's mark cut in a wall, pillar, or building and used as a reference point in measuring altitudes. |
| Evaluate (something) by comparison with a standard. |
| Benchmarking description |
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Benchmarking is comparing ones business processes and performance metrics to industry bests and best practices from other companies. In project management benchmarking can also support the selection, planning and delivery of projects. Dimensions typically measured are quality, time and cost. In the process of best practice benchmarking, management identifies the best firms in their industry, or in another industry where similar processes exist, and compares the results and processes of those studied (the "targets") to one's own results and processes. In this way, they learn how well the targets perform and, more importantly, the business processes that explain why these firms are successful. According to National Council on Measurement in Education, benchmark assessments are short assessments used by teachers at various times throughout the school year to monitor student progress in some area of the school curriculum. These also are known as interim assessments. * Benchmarking is used t |