A Key Performance Indicator (KPI) is a measurable value that demonstrates how effectively a company is achieving key business objectives.
Performance auditing is a technique used by auditors to evaluate the economy, efficiency, and effectiveness of the organization’s operations so as to assure management that its strategic objectives are being carried out.
Today we reflect on our past and rejoice at a happy day of Independence. Have a warm and fun-filled Fourth of July!
Quality control (QC) is a process through which a business seeks to ensure that product quality is maintained or improved with either reduced or zero errors.
Every business struggles at times with ensuring that its services meet the highest standards of quality and customer satisfaction. For the next several weeks, we will discuss quality control and why it matters.
The ability to manage significant risks effectively is an increasingly critical success factor for all organizations. Badly informed or poorly executed risk management, on the other hand, can easily spell disaster.
Risk identification is the process of determining risks that could potentially prevent the program, organization, or investment from achieving its objectives. It includes documenting and communicating the concerns.
“As a member of management, a board member or finance professional, you will eventually ask or be asked, “What are the risks….?” or “Can you tell me the probability of success…? A sensitivity analysis is a way to quantify the risks.”
“Many times Board members ask, “What is my role?” or “How can I be effective as a Board member?”. The Governance Operating Model can help answer these questions.”
“A natural disaster, security breach or equipment failure is unpredictable and devastating. In order to ensure the continuity of your organization, a post-incident review should be an important component of your disaster recovery planning”