Technology Evaluation Cost Benefit Analysis

Technology Benchmarking


Application of benchmarking focuses on the understanding in details your own processes, and then compare your own performance with that of others analysed.

Technology Benchmarking is a method for comparing the performance of an organisation with best practices and technology applications of others. Application of benchmarking focuses on the understanding in details your own processes, and then compare your own performance with that of others analysed.

Comparison may also involve best practice based on standards and specifications stemming from the systematic study of science literature, and business literature with the scope to identify relevant information and technologies. In many cases, dedicated journals provide indicators that compare characteristics of similar products / technologies that make a comparison easier.

Project teams conduct process or technology benchmarking. The first step is to specify a process or a series of interconnected processes to be studied. Next a benchmarking partner with superior performance in the process being examined is identified. The high performance process of the partner is then studied. In this way a performance gap is established and the elements, which have led to the superior performance are understood. The final step is to formulate an improvement plan and implement the actions necessary to close the performance gap.

Over the past 15 years, the evolution of the benchmarking practice came through the search for performance benchmarks, the interest in process proficiency, the understanding and mastery of best practice, and the development of best practice models.

Evolution of benchmarking

Performance benchmarks
  • Key output measures
  • Balanced scorecard
  • Leading indicators
Process proficiency
  • Processes inventoried
  • Process ownership
  • Process improvement
Best practice mastery
  • Best practice understanding
  • Sharing
  • Adoption
Best practice models
  • Best of best practice models

Check also

http://www.urenio.org/benchmark/index.asp
http://www.benchmarkingnetwork.com/
http://www.benchnet.com