1.4.2 Why performance management is needed?
Performance management is functional to the achievement of the following objectives:
- Provide a systematic approach to measure progress in the implementation of asset management;
- Enable auditing and monitoring of the delivery of the asset management strategy;
- Demonstrate how funding is being used effectively to meet stakeholder needs;
- Provide the link between corporate vision, asset management strategy and maintenance operations;
- Facilitate effective communications with stakeholders by demonstrating performance against their requirements;
- Demonstrate any shortfalls in funding.