From IPAPI

Performance - “the manner in which or the efficiency with which something reacts or fulfills its intended purpose.”

Dictionary.com [1] Unabridged (v 1.1)

Based on the Random House Unabridged Dictionary, © Random House, Inc. 2006.

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Performance – “the fulfillment of a claim, promise, or request.”

Performance – “the ability to perform : efficiency.”

Merriam-Webster Online Dictionary. [2]

IPAPI Definition

Performance – The ability of an organization or a sub-part of an organization to fulfill an intended outcome or purpose efficiently (low cost) - with a high degree of accuracy and repeatability.

Overview

Performance is a term used to signify the ability of an organization to achieve specific desired outcomes or goals. Performance is used in relationship to many different aspects of an organization. Financial performance is an organizational measure important to shareholders, board members and executive staff. Non-executive managers often have performance measures used to assess their success such as meeting SLAs (Service Level Agreements), production goals, throughput targets, and so on.

The basic measures of performance are quantity, quality, efficiency and repeatability although most actual performance measures used in organizations are contextual variations of these.

The use of performance as defined by IPAPI is a key element in organizational efforts to achieve significant improvement in organizational success. When the organizational performance focus is based on intended outcomes, performance becomes a powerful tool in helping improve success on an ongoing basis.