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Questions about KPI targets

  1. What is “KPI Target”?
  2. Where is the KPI Target assigned?
  3. Who can specify KPI targets??
  4. How can I specify KPI targets?
  5. Can I specify a PI target also?
  6. Is there a default KPI target?

Answers

  1. What is “KPI Target”?

    KPI target is a numeric expression of the desired level of performance of my ship or fleet in a given period of time i.e quarter. KPI targets could be specified in two different ways:


    1. Either as an absolute “Value” expressed in the unit of measurement of the respective KPI.


      For example, for KPI015 Health and Safety deficiencies, the target of Ship ABC is to have max 1 deficiency per quarter.


      Depending on the KPI definition, the KPI target interpretation differ meaning that, for certain KPIs, the higher the KPI value is the better the performance (and vice versa) whereas for some other KPIs, its exactly the opposite (low KPI results in better performance). In order to achieve meaningful KPI targets then the target definition is combined with an extra expression, that's the minimum (min) or maximum (max). That expression is automatically defined by the system and you do not need to specify that.

    2. 2. Or as a percentage (%) that is then compared with the ranking percentage. In this option, the target indicates the desired level of performance compared to the ships having the exact same ranking criteria in the respective quarter.


      For example, the container Ship ABC has as a percentile target to be in the “Top 10% of containers when it comes to KPI026 Port state control deficiency ratio. In fact, that means if the ranking of Ship ABC is greater than 90% then the target is achieved.


      For the 2nd target expression, the system allows 4 different options:


      • Top 5%
      • Top 10%
      • Top 25%
      • Top 50%

  2. Where is the KPI Target assigned?

    In KPI standard v4.0, the KPI targets can be assigned and stored on the ship level. However, in a future release users will have the option to assign KPI targets also on Business unit and fleet levels.

  3. Who can specify KPI targets??

    By default, the only authorized user to specify and/or update KPI targets for the ships of his/her account is the account manager. Nevertheless, the account manager has the ability to extend the permissions of a specific role so to enable more users in updating KPI targets.

  4. How can I specify KPI targets?

    Authorized users can specify targets on the detail page of the ship. Given that you are on My Ships page when you click on a specific ship name you then land on the details of the ship. There you can see an “Edit Targets” button that allows you to specify KPI targets.


    In a future release, that facility will be extended so that KPI targets could be also defined on the My Ships overview page in a more convenient way.


  5. Can I specify a PI target also?

    No. A KPI is a mathematical expression of contributing PIs KPI targets and such as, it’s aligned with a business objective. You might have a good PI (performance indicator) but that does not mean you will have a good performing KPI. So, targets are only defined on the KPI level.

  6. Is there a default KPI target?

    Yes! By default, ships have as percentile target “Top 50%”. That applies to all KPIs of the existing and newly created ships.

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