Just after the COVID19 lockdown, I had written a blog “Quarterly Business Plan” (https://dinakarmurthy.com/2020/10/24/analysis-of-analytics/) and provided a template for the “Quarterly Business Plan Tracker” (https://dinakarmurthy.com/wp-content/uploads/2020/08/Deenu_3M_BP_02jul2020.pdf). Reporting should be the basis for all the routine reviews mentioned in this template, so that the reviews or timeouts become effective as I had explained in my blog “Reviews/Timeouts – useful or useless!” (https://dinakarmurthy.com/2020/08/15/reviews-timeouts-useful-or-useless/).
Today, I am writing my ten reporting tips, to make any report comprehensive, effective value adding and progressive.
Past Performance Trend
Past performance trend is the foundation to assessing any situation, since present is always originating from the past.
Actual Latest Performance
After perceiving the trend, the actual latest performance may be assessed for confirming the continuity.
Best (Record) Validated Performance
Best validated performance then serves as a yardstick for assessing the already exploited potential.
Like-to-like Comparison Benchmark
A like-to-like comparison benchmark is an extremely important information to assess the hidden potential.
Target Defined in Agreement
Target defined in Agreement may now be used as for assessing the actual performance.
Expected Yield from Plan
The expected yield from plan to meet a target is an important information, especially for assessing the ease of fulfilment.
Latest Estimate based on Reality
The predictability culture so important for any business may now be assessed using the latest estimate based on reality.
Gap to Target (from Latest Estimate)
An explanation of the gap to target adds value to the report for assessing the result orientation culture.
Analysis of Current Situation
Analysis of the current situation after considering the chances and risk helps in assessing the deep dive culture.
Summary with Recommendation
Finally, a summary with recommendation may be used to assess the empowerment culture in an organisation.
These ten reporting tips normally are in the DNA of world class companies, where the benefits from analytics is fully exploited. (https://dinakarmurthy.com/2020/10/24/analysis-of-analytics/)
I will end my blog with a quote by Harry Hall.
“One of our biggest problems is delayed reporting”.
How timely and complete is reporting in your organisation?