Key performance indicators tied to the organization's top priorities are critical to monitoring progress against your plan; daily, weekly and monthly.
Lagging indicators such as last month's financial results are necessary but can't be actively managed. Smart metrics that give a more timely look at the business can allow a plan to be managed and adjusted in response to changing business or market conditions. The right business performance metrics are critical.
Annual: Very strategic; normally a two day session.
Quarterly: Your strategic update, validate annual initiatives, measure progress against prior quarter's priorities, reset the priorities for the next quarter.
Monthly: Measure progress against the current priorities, make course corrections, accountability is key, maintain alignment.
Weekly: More tactical, keep it to an hour, identify customer and staff hassles, measure current priority progress to metrics.
Daily: Brief, less than 15 minutes, what's up, who is stuck and how to remove barriers to progress.