Key performance indicators in a multi-dimensional performance card in the energy sector

Abstract

The present article focuses on key strategic objectives and their key performance indicators in the energy sector. Key Performance Indicators (KPI’s) are indicators used in processes to measure the extent of completion of objectives within organizations. They focus on those key aspects of functioning of organizations that are of fundamental importance to the current and future success of organizations. By including KPI’s in multi-dimensional performance cards, one can identify the priority objectives and gain a comprehensive view of a company. KPI’s make it possible to clearly determine whether objectives are completed at all and what is the stage of their completion. Continuous monitoring of the extent of objective completion enables quick response to changing conditions in the environment and, consequently, helps companies survive in their markets, enables their growth, and gives them competitive advantage. The problems discussed in the article are very broad but immensely important to contemporary entities, including mining companies conducting their unique operations. Managers look for up-to-date management support tools that can support them in efficient and quick decision-making, effective information flow, and measurement of company performance. The article presents key performance indicators in multi-dimensional performance cards. For this purpose, research was performed to check the fraction of selection of specific options (sets of objectives) by respondents and an analysis of statistical dominance of key indicators of their completion. The results of the analysis were presented in the Balanced Scorecard (BSC) - one of the multi-dimensional performance cards.