What is a performance evaluation

1. What is a performance evaluation
A recent study by Accenture, a global research company, showed that 93% of the CEOs
identifies sustainability issues to be key to any company's success in the future. This
needs to be taken as an issue that needs comprehensive analysis as this is among the most
important findings that is very relevant for businesses to date. Organizations are faced
with the fundamental challenge of attaining environmental sustainability in a very harsh
and highly competitive economic world.
Although the majority of the companies surveyed by Accenture might have been bigger
than the average organizations, the principle stays as is. Companies must do everything
that they can, not only to be environmentally sustainable, but perhaps as importantly, to
show to the rest of the world that they are making such efforts. Almost 3/4 of the CEOs
surveyed cited the issues of reputation and brand management as a key driver in the
decision-making.
How an organization could become environmentally competitive and sustainable amidst a
harsh economic world? This is the quandary facing organizations as they try and plan for
the future. A landmark study conducted recently by Accenture, a global research
company, shows that 93% of the CEOs pointed to sustainability issues to be most critical
to an organization's success in the future. This is a very important finding, conducted as
part of the most comprehensive analysis ever undertaken in this sector.
Asset performance will now become one of the critical focus points for a company
seeking to balance environmental responsibility with a competitive stance. While true
sustainability requires good management of all resource usage, including water, waste
and labor, the greatest efficiencies can be expected in the management of assets.
When an individual asset's energy appetite is revealed, with baseline established, its
future performance can be accurately revealed. In the past, while assets may have
undergone a periodic maintenance schedule, often problems were only revealed when
failure was apparent or imminent. If every asset could possibly be monitored real-time,
with its actual energy consumption identified, any performance that is against the
benchmark could be a clue of any possible problem.
Among the many challenges confronted by management is the question on how to
integrate a completely revised set of metrics that would measure performance of their
strategies on asset deployment and procurement. In short, is it necessary to completely
revise an asset inventory at a given moment in time, writing such asset value down and
reintroducing each asset into the record books? This way, using the new benchmark
onwards, true sustainability is attainable.

2. Prevention and monitoring are the new familiar tune. The majority of companies still
reveal energy at a meter level and are thus unable to ascertain the truth value of each
asset. In the larger and more complex organizations, thousands of assets could determine
sustainability. Without a means of individually managing, no company can hope to take
good care of its brand and reputation.
Carbon should not be viewed as a threat or a liability. Instead, it needs to be seen as the
synergist that would compel businesses to reveal its asset productivity, most likely for the
very first time. Asset performance, when optimized, would reduce an organization's
energy liabilities and could reveal additional profits.
IT departments will become increasingly focused on corporate social responsibility and
the need to use gathered asset performance data to drive business decision-making.
Sustainability will become the core fabric of the organization.
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