How to monitor
Monitoring refers to continuous monitoring, removal of figures, fixation of the key process parameters results to achieve any goal. It serves to monitor trends in these parameters and their results in order to account for control or predict. On the basis of analysis done and makes recommendations to improve the effectiveness of management decisions.
Instruction how to make monitoring
State the purpose for which you need to do the monitoring. For example, you are interested in the investment attractiveness of the territory. So you have to know the dynamics on the volume of attracted investments for a certain period of time. Or, you monitor the implementation of the sales plan. In this case, you need to constantly receive data on goods sold to a particular frequency. Such monitoring data allow to quickly identify problems and take management decisions, if necessary.
Determine the list of required for the monitoring of parameters that allow you to make a comparative analysis for different time intervals. Note the factor that your sources of information must be accurate, employees, providers, should be motivated to obtaining of objective evaluation. Monitoring should give you food for thought and figures for the statistical analysis of the company.
According to the monitoring results make the analysis using the methods of mathematical statistics and economic and mathematical. According to the analysis make adjustments to your goals and objectives. It is possible that as a result of this analysis, you can get conclusive evidence of the impossibility of achieving these goals. You will be able to quickly track the new factors that appear during the implementation of long-term projects and to consider obstacles to achieving these goals.
Use the visualization of the results of monitoring methods. This will allow to visualize the entire dynamics of the parameters over time. To improve the reliability and representativeness of statistical sampling using data over a sufficiently large time intervals to eliminate the random factor.
According to the analysis make clear conclusions and begin the process of preparation of management decisions and proposals for the elimination of the causes that prevent the achievement of goals. Make adjustments to the plans and forecasts of expected performance indicators.