Current business literature is filled with references to corporate performance management, or CPM. According to Gartner, Inc., "... fewer than 10 percent of enterprises will have implemented CPM by YE02, however, 40 percent will adopt it by 2005 (0.7 probability).1" Gartner Research states, "Corporate performance management is an important concept" and "enterprises that effectively deploy CPM solutions will outperform their peers.2" It sounds like we need to pay attention to CPM, but what exactly is it?
In short, corporate performance management refers to the "methodologies, metrics, processes and systems that monitor and manage the performance of an enterprise.3" From an implementation perspective, CPM is often associated with concepts or phrases such as key performance indicators (KPIs), business activity monitoring (BAM), Six Sigma Quality and the Sarbanes-Oxley (SOX) Act of 2002. CPM is also frequently used in the same sentence as balanced scorecards, executive dashboards, business performance metrics and financial planning and forecasting. Confused?
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