SMART Objective
A SMART Objective is an objective that adheres to the criteria of being Specific, Measurable, Achievable, Relevant, and Time-bound.
- Context:
- It can (typically) serve as a guide for setting objectives in various domains such as project management, employee performance management, and personal development.
- It can (typically) be used in conjunction with Key Performance Indicators (KPIs) to assess the performance of organizations, business units, and individuals.
- It can (often) help in providing clarity and focus to the objectives, making them more tangible and easier to achieve.
- It can be associated with Peter Drucker's management by objectives concept.
- It can be extended or modified, as in the case of SLOs which can include additional attributes like being repeatable, understandable, meaningful, controllable, affordable, and mutually acceptable.
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- Example(s):
- a SMART Sales Depaertment Objective, such as: "Increase sales by 10% in the next quarter by expanding marketing efforts in the southeast region".
- a SMART Personal Objective, such as: "Read two books on leadership in the next two months.".
- a SMART Employee Goal, such as: "Improve customer satisfaction by 15% over the next quarter by implementing new customer feedback system".
- ...
- Counter-Example(s):
- A Vague Objective, such as "Do better in sales".
- ...
- See: Management by Objectives, Project Management, Performance Management, Personal Development.
References
2020
- (Wikipedia, 2020) ⇒ https://en.wikipedia.org/wiki/SMART_criteria Retrieved:2020-8-5.
- SMART is a mnemonic/acronym, giving criteria to guide in the setting of objectives, for example in project management, employee-performance management and personal development. The letters S and M generally mean specific and measurable. Possibly the most common version has the remaining letters referring to achievable (or attainable), relevant, and time-bound. However, the term's inventor had a slightly different version and the letters have meant different things to different authors, as described below. Additional letters have been added by some authors.
The first-known use of the term occurs in the November 1981 issue of Management Review by George T. Doran. The principal advantage of SMART objectives is that they are easier to understand and to know when they have been done. SMART criteria are commonly associated with Peter Drucker's management by objectives concept. Often the term S.M.A.R.T. Goals and S.M.A.R.T. Objectives will surface. Although the acronym SMART generally stays the same, objectives and goals can differ. Goals are the distinct purpose that is to be anticipated from the assignment or project. Objectives on the other hand are the determined steps that will direct full completion of the project goals.
- SMART is a mnemonic/acronym, giving criteria to guide in the setting of objectives, for example in project management, employee-performance management and personal development. The letters S and M generally mean specific and measurable. Possibly the most common version has the remaining letters referring to achievable (or attainable), relevant, and time-bound. However, the term's inventor had a slightly different version and the letters have meant different things to different authors, as described below. Additional letters have been added by some authors.
2020
- (Wikipedia, 2020) ⇒ https://en.wikipedia.org/wiki/Performance_indicator#Identifying_indicators_of_organization Retrieved:2020-8-5.
- … Key performance indicators (KPIs) are ways to periodically assess the performances of organizations, business units, and their division, departments and employees. Accordingly, KPIs are most commonly defined in a way that is understandable, meaningful, and measurable. They are rarely defined in such a way that their fulfillment would be hampered by factors seen as non-controllable by the organizations or individuals responsible. Such KPIs are usually ignored by organizations.
KPIs should follow the SMART criteria. This means the measure has a Specific purpose for the business, it is Measurable to really get a value of the KPI, the defined norms have to be Achievable, the improvement of a KPI has to be Relevant to the success of the organization, and finally it must be Time phased, which means the value or outcomes are shown for a predefined and relevant period. Key Performance Indicators: Establishing the Metrics that Guide Success, accessed 23 April 2016 </ref>
In order to be evaluated, KPIs are linked to target values, so that the value of the measure can be assessed as meeting expectations or not.
- … Key performance indicators (KPIs) are ways to periodically assess the performances of organizations, business units, and their division, departments and employees. Accordingly, KPIs are most commonly defined in a way that is understandable, meaningful, and measurable. They are rarely defined in such a way that their fulfillment would be hampered by factors seen as non-controllable by the organizations or individuals responsible. Such KPIs are usually ignored by organizations.
2020
- (Wikipedia, 2020) ⇒ https://en.wikipedia.org/wiki/Service-level_objective#Examples Retrieved:2020-8-3.
- ↑ Rick Sturm, Wayne Morris "Foundations of Service Level Management", April 2000, Pearson.