A Closer Look at Results Based Management
RBM helps track a company’s performance through three phases:
1. Planning
2. Implementing and Monitoring
3. Reporting
During the first stage, planning, a strategy map is organized based on the results of past performances. Planning outlines how the project or strategic move will be carried out and what achievements are supposed to be recognized as a result of execution. The second phase in RBM entails implementing and monitoring the project and/or strategic decision. Monitoring progress is important in order to prevent major losses by altering steps along the way. Finally, reporting final results in essential to making future decisions and measuring performance. When discussing RBM, ‘results’ can mean human capital accomplishment, materialistic goods produced, services produced within the firm to be used by the firm and so on.
Taking this approach more in depth, having a form of RBM in place can help lay clear company visions and see through to their success. It can also unite employees because of its monitoring phase and its clearly defined objectives and initiatives. The overall objective of RBM becomes creating a framework for strategic planning integrated with accountability. To learn more on this topic and learn how the United Nations Development Program uses RBM, Read more
