Video: Performance Management Metrics Overview and Objectives

In this engaging lesson, Nick Palazzolo, CPA, dives into the world of Performance Management Metrics and unpacks the tools and techniques essential for gauging and enhancing business efficiency and profitability. He introduces various operational management approaches and familiarizes you with pivotal terms and practices such as total quality management, lean manufacturing, just-in-time, and Six Sigma. Furthermore, you'll explore different philosophies and strategies for performance and quality improvement. Get ready to sharpen your skills in applying metrics for efficiency and benchmarking, as Nick promises a mix of mathematical, conceptual, and practical insights that will keep you alert and prepared to manage performance effectively.

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Video Transcript

Instructor: Nick Palazzolo

Nick Palazzolo is head instructor of ExamPrep.ai CPA Review. Nick's teaching style is engaging & upbeat, combining practical Big 4 tax & assurance expertise with years of 1-on-1 coaching. His lessons are concise and emphasize what you need to know to pass. Whether you're a recent grad or working full-time, we’re confident you can conquer your CPA exams with Nick’s review.

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Welcome everyone to Performance Management Metrics. We're here to talk about how to manage your performance. I mean, that's the whole point of having this lesson, right? So, how are we going to do that?

We benchmark ourselves against competitors, against the industry, and against our past selves. We have different formulas and analyses to tell us how we're performing. As a company, we want to operate efficiently and with a profit. So how are we going to do that? That's what we're here to learn today.

Let's take a look at our learning objectives for this lesson. First, we want to identify commonly used operational management approaches, techniques, and measures within the context of business process management. We may have heard of total quality management, lean manufacturing, just-in-time, and Six Sigma. We'll learn about them, memorize them, and be familiar with those inventory management techniques and process management techniques. We're also going to identify commonly used management philosophies and techniques for performance and quality improvement within the context of business process management.

Lastly, we'll practice performance management metrics for efficiency and benchmarking purposes. We'll see some math, some conceptual, and a lot more. Keep your eyes open, your ears open, and your heart open. Let's dive in!

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Performance Analysis & Cost Accounting

Module: 4 Concepts, 44 Videos

Performance Management Metrics Overview and Objectives

1:43

Introduction to Performance Management Metrics

2:13

Productivity Ratios

4:20

Benchmarking