|
|
Article: Risk-based performance management--making it work.(SELECTED TOPIC)
- Article from:
- Business Credit
- Article date:
- May 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 National Association of Credit Management. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Performance management is now more correctly being defined as a much broader umbrella concept of integrated methodologies--much broader than its previously misconceived narrow definition as simply being better strategy, financial budgeting, and control. What could possibly be an even broader definition? Our belief is performance management is only part--but a crucial, integral part--of how an organization realizes its strategy to maximize its value to stakeholders. This means that performance management must be encompassed by a broader overarching concept--intelligent risk management.
Risk-based performance management has been evolving for a number of years in ...