What are the most important KPIs to track for your BRM program?

2 Relationship maturity

Another important KPI to track for your BRM program is the relationship maturity, which is the level of trust, communication, collaboration, and alignment between your organization and your business partners. Relationship maturity can be assessed using various frameworks and tools, such as the BRM Maturity Model, the Relationship Assessment Scale, or the Net Promoter Score. To track this KPI, you need to conduct periodic surveys and interviews with your business partners and your internal team, and evaluate the feedback and ratings on various aspects of the relationship, such as satisfaction, expectations, performance, value, and engagement. You also need to identify the gaps and opportunities for improvement, and implement action plans to enhance the relationship quality and value.

3 BRM capability

A third key KPI to track for your BRM program is the BRM capability, which is the skills, knowledge, competencies, and resources that your BRM team possesses and utilizes to perform their role effectively and efficiently. BRM capability can be measured using various methods and standards, such as the BRM Competency Model, the BRM Professional Certification, or the BRM Benchmarking. To track this KPI, you need to conduct regular assessments and reviews of your BRM team's capabilities and performance, and compare them with the best practices and industry norms. You also need to provide training, coaching, mentoring, and career development opportunities for your BRM team, and ensure that they have the necessary tools, systems, and support to execute their BRM activities and initiatives.

4 Stakeholder engagement

A fourth essential KPI to track for your BRM program is the stakeholder engagement, which is the degree of involvement, influence, and advocacy that your BRM team has with the key decision-makers and influencers in your organization and your business partners. Stakeholder engagement can be measured using various indicators and techniques, such as the Stakeholder Mapping, the Stakeholder Analysis, or the Stakeholder Engagement Plan. To track this KPI, you need to identify and prioritize your key stakeholders, and understand their needs, interests, expectations, and preferences. You also need to establish and maintain regular and effective communication and collaboration with your stakeholders, and solicit and act on their feedback and suggestions. You also need to demonstrate and promote the value and impact of your BRM program, and seek their support and endorsement for your BRM activities and initiatives.

5 BRM alignment

A fifth crucial KPI to track for your BRM program is the BRM alignment, which is the extent to which your BRM program is aligned with the vision, mission, values, strategy, and culture of your organization and your business partners. BRM alignment can be measured using various frameworks and tools, such as the Strategic Alignment Model, the Balanced Scorecard, or the Business Model Canvas. To track this KPI, you need to ensure that your BRM program is based on a clear and shared understanding of the purpose, goals, and objectives of your organization and your business partners, and that your BRM activities and initiatives are aligned with and support those goals and objectives. You also need to monitor and evaluate the alignment of your BRM program with the changing needs, expectations, and opportunities of your organization and your business partners, and adjust and adapt your BRM activities and initiatives accordingly.

6 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?