KPIs

Question 1

Why measure?

Answer 1

We don’t know what we don’t know​
We can’t act on what we don’t know​
We won’t know until we search
​We won’t search for what we don’t question​
We don’t question what we don’t measure

Question 2

Indicators designed to track and encourage progress towards critical goals of the organization.

Answer 2

Key Performance Indicator (KPI)

Question 3

All KPIs are KPMs (True or False)

Answer 3

True

Question 4

All KPMs are KPIs (True or False)

Answer 4

False

Question 5

What are the 4 types of KPIs?

Answer 5

1. Quantitative Indicators
2. Qualitative Indicators
3. Leading Indicators
4. Lagging Indicators

Question 6

What are the steps to implement KPIs?

Answer 6

Analyze
Design
Implement
Measure & Maintain

Question 7

Each of the following represents the importance of Indicators in problem-solving except_____.​
a) Measuring the effectiveness of solutions​
b) Quantification of the extent of the problem
​c) Establishing a baseline for Root Cause analysis​
d) Performing risk assessment such as FMEA​

Answer 7

d) Performing risk assessment such as FMEA​

Question 8

Which of the following is true regarding KPIs?​
a) Must be related to cost saving
​b) Only monitored by managers​
c) Are visible to the workforce​
d) Budgeted​

Answer 8

c) Are visible to the workforce​

Question 9

What is the acronym for the Lean approach used to create more successful goals?
a) JIT
b) SMART
c) TPM
d) TPS

Answer 9

b) SMART

Question 10

When creating KPIs which of the following should you avoid?
a) Including your team members in the goal setting process
b) Using a measure to ensure the KPI is related to the strategic goal of the process improvement.
c)Using a target numeric value or quantifiable data point to measure impact of the measure
d) Allowing vague goal setting habits

Answer 10

d) Allowing vague goal setting habits