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Measurable goals are objectives that can be measured with a number. This includes business and financial metrics and qualitative information measured with surveys and other quantified feedback. Choosing a measurable goal usually involves thinking through a measurement that you can realistically calculate. The following are illustrative examples.
InvestmentAn investment can be measured with return on investment. For example, a retiree has a goal of achieving a 6% annualized return on their savings over the long term.ProjectsA project is often viewed as an investment that can be measured with return on investment or net present value. Project participants may measure objectives in terms of delivering things on time and budget using metrics such as cost variance and schedule variance.
QualityQuality can be measured with a defect rate or in terms of business results such as customer satisfaction or product ratings.KnowledgeKnowledge is often measured by how much it gets used using metrics such as view count and citations.SalesSales goals are often measured with revenue, customer lifetime value and customer satisfaction.
CodingDelivering code on time and budget. Code quality metrics are also a way to measure coding objectives such as defects per thousand lines of code.CommunicationMeasuring how well participants understand what has been communicated. For example, testing knowledge and perceptions after extensively communicating a firm's new business strategy.Risk is measured with probability and impact. For example, a goal to reduce the risk of a supply chain disruption from 2% to 0.2% probability.
Automation projects are measured in terms of efficiency improvements, business optimization and cost reductions. For example, a project to semi-automate customer order processing may reduce average processing cost from $30 to $12 per order.Reducing the number of incidents that can be viewed as compliance sensitive. For example, a bank that tracks any inaccuracies with customer accounts with a goal to reduce such incidents to zero.
Launching a new product measured with first year revenue, time to market and time to volume.Design metrics are often based on user surveys, product ratings and other customer feedback.Cities typically measure initiatives in terms of quality of life and sustainability metrics. For example, a goal to make bicycle lanes safer measured with traffic accident rates.
Organizational culture is most commonly measured with employee surveys. It can also be measured with business results such as productivity rates. For example, a firm creates a new program to allow all employees to participate in strategy formation. They measure results by looking at the percentage of employees who strongly believe strategies will be successful.StrategyBusiness strategies are measured with business metrics such as return on investment, brand awareness, customer satisfaction, margins and costs.Time management goals are typically measured with productivity, work quality and quality of life. |
| Type | | | Definition | Objectives and goals that can be measured with a number. | | Related Concepts | |
Goals
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