BenchmarkingBenchmarking goes beyond understanding how many DFGs other areas do, it helps your understanding of how they deliver and how that impacts on their performance. The advantages of benchmarking include enabling organisations to outperform other areas, opening minds to new ideas, and placing organisations in a continuous improvement mode.
Benchmarking is the systematic process of comparing business processes and performance metrics to sector best practices in terms of quality, time, and cost dimensions, and making such comparisons the basis to do things better, faster, and cheaper.
Benchmarking identifies best practices in key DFG processes and determines what constitutes superior performance. It then quantifies the gap between the expected performance and the actual state; in the process it can drive home uncomfortable facts and harsh realities about your current systems. This provides you with both the reason to improve and a definition of what constitutes improvement.
A permanent benchmarking program forces organisations out of their comfort zones and provides specific and measurable short-term improvement plans based on current reality rather than historical performance. Very often, organisations set goals based on past trends and established internal patterns. Benchmarking helps remove such “paradigm blindness" and forces the organisation to take a fresh approach to goal setting based on a broader perspective, including the external perspective, the most critical factor that drives customer expectations.
Foundations have partnered with i4housing to develop a bespoke benchmarking programme to improve DFG delivery.
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