Using a Lead Indicator as Part of Performance Measurement Means

question 2

Multiple Choice

Using a lead indicator as part of performance measurement means that a target is:

• A) specific.
• B) motivating.
• C) ambitious.
• D) related to the goals of the organisation, team and/or individual.
• E) trackable and able to be monitored.

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Definitions:

Public Goods

Goods that are non-excludable and non-rivalrous, meaning their use by one individual does not reduce availability to others.

Marginal Social Cost

The total cost to society of producing an additional unit of a good or service, taking into account both private costs and any externalities.

Private Marginal Cost

The cost incurred by a firm or individual for producing one additional unit of a good or service, not including external costs.

Traffic Congestion

Refers to the situation where there are more vehicles than the road can accommodate, leading to slower speeds, longer trip times, and increased vehicular queuing.