Value Mapping – a Second Generation Performance Measurement and Performance Management Solution

As a result of the performance measurement revolution many organisations have numerous measures of performance but often with significant weaknesses in the way that these measures are identified, integrated, communicated and acted upon. First generation performance measurement frameworks have partly contributed to this as none of the approaches addresses the full range of criteria important for performance measurement success. Users of these frameworks often become model bound and loose sight of the measures that are most important for the organisation and the associated stakeholders. This paper presents an approach to value creation, Value Mapping, that uses the language of value to identify and structure performance measures and provides a strategic performance management solution.