Benchmarking is the systematic process of observation and analysis.
The evaluation of a project, method or process best practices as performed by recognized industry leader may reveal improvement opportunities for your organization.
Benchmarking may focus on diverse business processes and with both internal and external subjects.
The intent is to understand what makes the subject’s process work well.
Understanding a system that operates well may reveal the elements in your process that may benefit with a change.
Keep in mind that not all best practice processes may apply to your specific situation. (Lapide, 2005) [Read more…]