What is a Key Performance Indicator (KPI)?

A KPI stands for a Key Performance Indicator and is a critical, quantifiable indicator of progress towards an intended result.

Oscar de la Hera Gomez
Written by Oscar de la Hera Gomez
First published on 02/22/2024 at 08:57
Last Updated on 02/23/2024 at 09:35
<p>A flower that represents Project Management with the text “KPIs” beneath it.</p>

A KPI stands for a Key Performance Indicator and is a critical, quantifiable indicator of progress towards an intended result.

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"Peter Drucker famously said, “What gets measured gets done.” Measurement is an essential management tool, as it helps us determine if our work is making an impact, demonstrate value, manage resources, and focus improvement efforts"

KPIs, or Key Performance Indicators, are strategic objectives that companies or individuals set to focus on a target and stay on track.

As a result, these critical quantifiable indicators enable the analytical measurement of impact and progress towards an intended result and empower decision making as they help focus on what really matters.

To learn about the different types of KPIs or how to write and develop KPIs consult the links below.

What are the types of Key Performance Indicators (KPIs)?How to write and develop Key Performance Indicators (KPIs)

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