How can you create a partnership performance measurement plan?

2 Select the key performance indicators

The next step is to choose the key performance indicators (KPIs) that will measure how well you are meeting your objectives. KPIs are quantifiable metrics that reflect the critical success factors of your partnership. They can be related to inputs, outputs, outcomes, or impacts. For example, you can measure the number of referrals, the quality of service, the customer satisfaction, or the social impact of your partnership.

3 Establish the baseline and targets

The third step is to establish the baseline and targets for your KPIs. The baseline is the current or previous level of performance that you want to improve or maintain. The target is the desired or expected level of performance that you want to reach or exceed. You can use historical data, benchmarks, or best practices to set your baseline and targets. You should also specify the time frame and frequency of measurement for each KPI.

4 Design the data collection and reporting methods

The fourth step is to design the data collection and reporting methods that will enable you to monitor and evaluate your KPIs. You should decide what type of data you need, how you will collect it, who will collect it, how often you will collect it, and how you will store and analyze it. You should also decide how you will report the results, who will receive the reports, how often you will report, and what format and tools you will use.

5 Implement the plan and review the results

The fifth step is to implement the plan and review the results. You should execute the data collection and reporting methods according to your plan and check the quality and accuracy of the data. You should also review the results regularly and compare them with your baseline and targets. You should look for trends, patterns, gaps, and anomalies in the data and interpret them in relation to your objectives.

6 Communicate and improve the plan

The final step is to communicate and improve the plan. You should share the results and insights with your partner and other stakeholders and solicit their feedback and suggestions. You should also discuss the challenges, opportunities, and lessons learned from your partnership and identify the areas for improvement or adjustment. You should update and revise your plan as needed to reflect the changes and ensure its relevance and effectiveness.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?