Realistic Target Setting - Part 2
* challenge 4: Anticipating the consequences of achieving and not achieving the target.
* challenge 5: Finding the courage to go beyond your comfort zone.
* challenge 6: Having the wherewithal to change whatever must change for the target to be accomplished.
Here are my ideas and learnings about overcoming them.
idea #4: keep one eye on the target, and one eye on the bigger picture
Even if you had enough foresight to explore the unintended consequences of achieving your target before you locked it into your plan, the world will still change later on. I once heard a story about a rail organisation that placed more importance on on-time running of trains than any other performance outcome. So much so, that one day, due to pressure risking the train running late, the driver omitted an important safety check to save time. The train derailed because of a braking problem that the safety check would have easily picked up.
Every now and then, ask your self "is this target still a good idea?" and "if we miss it, what's likely to happen?" and "if we achieve it, what's likely to happen?". It's okay to change a target that is no longer going to serve its original purpose. Is this check a part of your regular performance review process?
idea #7: give yourself (and your staff) permission to learn by not achieving targets
You are not supposed to achieve every goal or target you ever set. And if you do, then it's probably because you aren't challenging yourself enough. You're staying inside your comfort zone, inside of what you know works, what you know you can accomplish. That's not what improvement is about. There is no learning without failing, no improvement without learning.
If you want to jump over a creek without landing in the water and getting your shoes all wet, then don't aim for the far bank of the creek. Aim for a metre or so beyond it. Set the target further than you think you can achieve. That way, you'll be less likely to land in the water, and more likely to land even further than you thought possible. Somehow, our strides are longer when our eyes focus further ahead.
idea #6: do some preliminary scoping of "how-to" before locking in the target
If you and your team do not yet possess the target setting and achieving prowess of an Olympic athlete, then avoid setting any kind of target without first exploring a range of ideas of how you might go about achieving it. A very innovative manager I know has for years used simulation software to model his business processes (freight). The model simulates the steps in the process, the variability in the time each step takes, the variability in market demand, resource constraints, and much more. He can then make changes in the model to simulate changes like investing in more equipment, or changing a step, or removing a constraint (like a policy). So before he spends a single dollar, he can get a good idea about which strategies are going to work best to reach his targets.
What's wrong with taking an iterative approach to finding the right target? Scope a little and set the first target value. Explore what it might take to achieve that, then revise that value if necessary. Start the more detailed action planning to get a stronger idea of resource implications, and revise the value again if necessary.
Related Tags: metric, business goals, kpi, balanced scorecard, performance measure, key performance indicator
Stacey Barr is the Performance Measure Specialist, helping people to measure their business strategy, goals and objectives so they actually achieve them.
Sign up for Stacey's free mezhermnt™ Handy Hints ezine at http://www.staceybarr.com to receive your complimentary copy of her e-book "202 Tips for Performance Measurement", and make your business goals more achievable.
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