Benchmarking Performance Indicators Research Articles

Performance Modeling and Simulation for Wastewater Collection Networks

This study develops a framework for asset management strategy of wastewater collection networks comprised of three interconnected decision-making layers: (1) Visions & Values, (2) Function, and (3) Performance, which are set according to the established concepts of strategic targets, policy levers, sustainability and life cycle. The asset management strategy framework is implemented and validated through demonstration of functionality and value by using the wastewater collection networks of three utilities in Ontario, Canada, to drive management simulations. A borrowing management strategy is used to benchmark the utilities against each other in terms of infrastructure, sociopolitical, and financial performance over a 100-year benchmarking period. It is found that a borrowing management strategy can enable the utility to accelerate their capital works, reduce the volume of inflow and infiltration and their associated expenses and sustainably meet their strategic targets over the life cycle of the assets. Using contour plots, the impact of maximum debt capacity on two infrastructure and financial benchmarking performance indicators is also investigated to explore the “optimal” combination of allowable fee hikes and preferred rehabilitation rates. Furthermore, using a borrowing management strategy, a business case for asset management of wastewater collection networks is developed to explore the “optimal” combination of allowable fee-hike and rehabilitation rates, using a developed inflow and infiltration expenditures (I&IEx) saving ratio contour plots. The results indicate that a borrowing management strategy competes as long as the combinations of allowable fee-hike and preferred rehabilitation rates lead to a positive value of I&IEx saving ratio.

Performance Modeling and Simulation for Water Distribution Networks

This study develops an implementation framework for asset management strategic planning of water distribution networks to meet sustainable infrastructure, socio-political, and financial targets over the life cycle of the infrastructure. The proposed framework is comprised of three decision-making layers: (1) Visions and Values, (2) Function, and (3) Performance. The asset management strategy framework is implemented and validated by demonstrating functionality and value by using data from three water utilities in Canada. The Visions and Values layer is set to meet the needs of the water utilities' stakeholders. The Function layer uses an advanced system dynamics model to simulate and forecast the system's future behavior. The Performance layer benchmarks, compares, and graphically illustrates the situation and performance of water utilities against each other regardless of their size. Benchmarking results indicate that all three water utilities can sustainably meet the strategic targets established in the Visions and Values layer of the asset management strategy over the benchmarking period. The impact of the desired cash reserve on infrastructure and financial benchmarking performance indicators is also investigated to explore the “optimal” combination of allowable fee-hike and rehabilitation rates using the contour plots developed over the benchmarking period. The results indicate that the optimal combinations of allowable fee-hike of ~8% per year and rehabilitation rate of 1.3% per year along with a 1–4% cash reserve, depends on the network condition, will allow water utilities to have sufficient funds to meet their strategic targets. The performance modeling and simulation approach presented in this study represents a powerful tool for other utilities to develop optimal strategic and operational plans for their networks and thus better service to their stakeholders.

Evaluating Performance of Insurance Sector in Pakistan Through Benchmark Performance Indicators

Benchmarking has been very important in measurement, comparison, and improvement. Important benchmarking indicators such as leverage, liquidity, stock performance, profitability, asset utilization and growth are used to examine the performance of various companies in different businesses. The current study is based on secondary data, which were collected from annual reports of 14 insurance companies of the Listed Pakistan Stock Exchange during the period of 2014-2018. For this purpose, the Technique for order Preferences by the Similarity to Ideal Solution (TOPSIS) based on Grey Relation Analysis (GRA) has been used. The findings of the study help managers of moderate growth and low growth insurance companies to formulate policies to improve their performance by looking at the policies of highly growing Insurance companies. The results concluded that overall ranking of insurance companies from 2014 to 2018, JLIL ranked 1st in overall performance in the year 2014. It is due to high net sales and total investment returns as compared to other insurance companies.

Benchmark Performance Indicators for Utility Water and Wastewater Pipelines Infrastructure

AbstractOver the past decade, many performance indicators have been developed for water utilities to track their system performance. This study proposes a set of normalized and time-integrated benc...

Benchmarking Performance Indicators: Evidence from Banking Sector of Pakistan

Purpose: The aim is to provide insight regarding performance evaluation of twenty-four different banks in Pakistan with relation to the stock market. Design/methodology/approach: The methodology is based on Grey Relation Analysis (GRA) by using six-power analyses which has been used previously in the field of industry and commerce for evaluating the comparative performance of banks. Furthermore, the GRA is based on TOPSIS technique to rank the banks. Findings: The findings reveal that benchmarking performance indicators are essentially locating the representative indicator from the existing ratios most commonly used in financial analysis to assess business operational performance. The GRA is linked with Technique for Order Preferences by the Similarity to Ideal Solution (TOPSIS) technique may result in incompleteness in the combination of ratios, and requires adjustment when other issues for analysis are involved. Overall, the study also demonstrates that a bank with a high ROA leads to a high financial performance. This paper conducted a review of literature and used six-power analyses to aggregate financial ratios appropriate for the TOPSIS technique. Future research could set up a specific model for the preliminary selection of financial ratios with a new to make studies of this kind more complete. Limitations: The current study is limited to twenty-four listed banks of Pakistan Stock Exchange (PSX) during period from 2013 to 2015 and also limited to secondary data instead of primary data. Originality/Value: This paper presented a new technique for performance evaluation – GRA. The major contribution of this paper is to use 24 banks in order to investigate the performance evaluation of listed banks of PSX during period from 2013 to 2015. Furthermore, GRA could avoid the waste of resources due to the uncertainty of relations among the ratios when using them for analysis.

Sheep health, welfare and production planning 1. Recording and benchmarking performance indicators of flock health and production

This is the first in a series of three articles that examine the opportunities for veterinary practitioners and livestock advisers to engage sheep farmers in proactive health and production planning....

Program budgeting and benchmarking – innovative management instruments in the practice of self-governments in Slovakia

The paper is focused on issues of the program budgeting implementation to the financial management of Slovak local self-governments, with an emphasis on its possible use in the benchmarking process. The aim of this paper is to analyze the structure of the first local self-governments’s program budgets and to highlight the benefit of program budgeting in the context of its potential use as a data source for self-government’s mutual comparing and learning in the field of effective public-services providing. Case study compares the structure and volume of program budgets of selected municipalities in Žilina region and realises the initial phase of benchmarking on the basis of benchmarking performance indicators proposed by Transparency International. The intention of this paper is to provoke discussion and to activate the practice for making the missing databases and partnerships of local self-governments.

Recommended Basic Science Foundation Necessary to Prepare Pharmacists to Manage Personalized Pharmacotherapy

In recent years, the United States Food and Drug Administration has approved revised labeling for several existing drugs to include pharmacogenomic information, marking an important step toward more personalized medicine. In addition, it is anticipated that many newly approved drugs may be restricted to use in individuals with certain genotypes. In response to the wealth of pharmacogenomic data generated during the past decade and its implications for pharmacy practice, the American College of Clinical Pharmacy Educational Affairs Committee was charged with describing the basic science foundation necessary to prepare future pharmacists to manage personalized, pharmaco‐genetically driven therapy. The committee identified four key areas deemed essential components of a pharmacy curriculum related to advances in genomics: personalized medicine concepts and terminology, with a focus on genomics; genomic applications in basic and applied pharmaceutical sciences; biotechnology; and bioinformatics. Each section of this commentary contains one or more broad curricular outcomes to be achieved, suggested implementations to address each outcome, and benchmark performance indicators of learning outcomes for recent graduates from doctor of pharmacy educational programs. There was unanimous agreement among committee members that the curricular outcomes described are the minimum expectation for future pharmacists to provide optimal patient care in the era of personalized medicine. Material taught in each area should evolve with progress in the field, particularly for gene‐drug response associations, biotechnology, and bioinformatics. As the areas of proteomics, metabolomics, and epigenetics evolve along with their implications for personalized drug therapy, they should also be incorporated into the curriculum. Self‐directed learning behaviors should be encouraged, when possible, to better prepare students to advance their skills and knowledge with the science. Faculty development will likely be necessary for the widespread education of pharmacy students in personalized medicine. It is our hope that this commentary will serve as a useful resource for academicians involved in curricular content development for pharmacy students.

Measuring Quality in Higher Education: Can a Performance Indicator Approach be Extended to Identifying the Quality of Students' Union Provision?

The desire to enhance the quality of the services provided by higher education institutions in the UK has led to the development of a series of benchmarking performance indicators to aid the quality management process. This paper examines whether or not similar indicators could be developed for use as tools in the management of quality within students' unions. In the UK a significant part of the services that the higher education ‘customer’ (the student) receives are provided by independently run students' unions. The focus on quality maintenance and enhancement within these organisations is generally less than that found in their parent institutions. Part of any attempt by unions to increase their focus on quality is likely to involve identifying the quality of the services that they provide. In this paper the author identifies potential benchmark performance indicators for students' unions service provision and suggests that a similar approach might be appropriate in the quality management of similar student services provided by a third party.

Benchmarking performance indicators for banks

Purpose – The aim of this paper is to construct a performance evaluation of banks with the stock market taken into consideration.