How do you coordinate performance measurement with external partners?

1 Define performance indicators

The first step to coordinate performance measurement with external partners is to define the key performance indicators (KPIs) that will measure the outcomes and outputs of your partnership. KPIs are quantifiable metrics that reflect how well you and your partner are achieving your objectives and delivering value. You should agree on the KPIs with your partner before you start the partnership, and make sure they are SMART: specific, measurable, achievable, relevant, and time-bound. You should also consider how you will collect, analyze, and report the data for the KPIs, and what tools or platforms you will use.

2 Establish performance targets

The next step is to establish the performance targets that will set the standards and expectations for your partnership. Performance targets are the desired levels or ranges of performance that you and your partner aim to achieve for each KPI. They should be realistic, challenging, and aligned with your strategic goals and priorities. You should negotiate the performance targets with your partner, and document them in a formal agreement or contract. You should also review and update the performance targets periodically, to reflect any changes in the internal or external environment.

3 Monitor performance regularly

The third step is to monitor the performance of your partnership regularly, using the data from the KPIs and the performance targets as benchmarks. Monitoring performance will help you track the progress and performance of your partnership, identify any gaps or deviations, and provide timely and constructive feedback to your partner. You should establish a schedule and a format for monitoring performance, such as weekly reports, monthly meetings, or quarterly reviews. You should also communicate clearly and openly with your partner, and address any issues or concerns promptly and respectfully.

4 Evaluate performance periodically

The fourth step is to evaluate the performance of your partnership periodically, using the results from the monitoring process as inputs. Evaluating performance will help you assess the impact and value of your partnership, measure the achievement of your objectives and outcomes, and identify any strengths or weaknesses. You should conduct a comprehensive and objective evaluation of your partnership, using qualitative and quantitative methods, such as surveys, interviews, case studies, or cost-benefit analysis. You should also involve your partner in the evaluation process, and share the findings and recommendations with them.

6 Learn and improve performance

The final step is to learn and improve the performance of your partnership, based on the insights and lessons from the evaluation process. Learning and improving performance will help you enhance the quality and efficiency of your partnership, address any gaps or challenges, and adapt to any changes or opportunities. You should create and implement a learning and improvement plan that outlines the actions and resources needed to improve your partnership performance, and that specifies the roles and responsibilities of you and your partner. You should also monitor and measure the results of your learning and improvement efforts, and celebrate your successes.