IMPROVEMENTS TOWARDS THE IDENTIFICATION AND QUANTIFICATION OF RELATIONSHIPS BETWEEN KEY PERFORMANCE INDICATORS
The quantitative relationships at the performance measurement system (QRPMS) is a methodology for identifying and quantifying relationships between key performance indicators. These relationships present additional information for decision-making purposes. QRPMS employs the Guttman-Kaiser criterion...
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doaj-cbc8f554c0634b0d815c6338580619452020-11-25T03:45:20ZengStellenbosch UniversitySouth African Journal of Industrial Engineering1012-277X2224-78902018-08-012929210110.7166/29-2-1872IMPROVEMENTS TOWARDS THE IDENTIFICATION AND QUANTIFICATION OF RELATIONSHIPS BETWEEN KEY PERFORMANCE INDICATORSJooste, Johannes Lodewyk 0Botha, Louis Jona 1Stellenbosch University, South AfricaStellenbosch University, South AfricaThe quantitative relationships at the performance measurement system (QRPMS) is a methodology for identifying and quantifying relationships between key performance indicators. These relationships present additional information for decision-making purposes. QRPMS employs the Guttman-Kaiser criterion (K1) to complete a critical step during the methodology. This study presents evidence that the K1 criterion has limitations that compromise the reliability of QRPMS’s results. An improved QRPMS version is developed, and the results of the existing and improved QRPMS are compared in a mining industry case study. It is shown that the improved QRPMS delivers more accurate and reliable results.http://sajie.journals.ac.za/pub/article/view/1872key performance indicator relationshipsperformance measurementprinciple component analysisqrpms |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Jooste, Johannes Lodewyk Botha, Louis Jona |
spellingShingle |
Jooste, Johannes Lodewyk Botha, Louis Jona IMPROVEMENTS TOWARDS THE IDENTIFICATION AND QUANTIFICATION OF RELATIONSHIPS BETWEEN KEY PERFORMANCE INDICATORS South African Journal of Industrial Engineering key performance indicator relationships performance measurement principle component analysis qrpms |
author_facet |
Jooste, Johannes Lodewyk Botha, Louis Jona |
author_sort |
Jooste, Johannes Lodewyk |
title |
IMPROVEMENTS TOWARDS THE IDENTIFICATION AND QUANTIFICATION OF RELATIONSHIPS BETWEEN KEY PERFORMANCE INDICATORS |
title_short |
IMPROVEMENTS TOWARDS THE IDENTIFICATION AND QUANTIFICATION OF RELATIONSHIPS BETWEEN KEY PERFORMANCE INDICATORS |
title_full |
IMPROVEMENTS TOWARDS THE IDENTIFICATION AND QUANTIFICATION OF RELATIONSHIPS BETWEEN KEY PERFORMANCE INDICATORS |
title_fullStr |
IMPROVEMENTS TOWARDS THE IDENTIFICATION AND QUANTIFICATION OF RELATIONSHIPS BETWEEN KEY PERFORMANCE INDICATORS |
title_full_unstemmed |
IMPROVEMENTS TOWARDS THE IDENTIFICATION AND QUANTIFICATION OF RELATIONSHIPS BETWEEN KEY PERFORMANCE INDICATORS |
title_sort |
improvements towards the identification and quantification of relationships between key performance indicators |
publisher |
Stellenbosch University |
series |
South African Journal of Industrial Engineering |
issn |
1012-277X 2224-7890 |
publishDate |
2018-08-01 |
description |
The quantitative relationships at the performance measurement system (QRPMS) is a methodology for identifying and quantifying relationships between key performance indicators. These relationships present additional information for decision-making purposes. QRPMS employs the Guttman-Kaiser criterion (K1) to complete a critical step during the methodology. This study presents evidence that the K1 criterion has limitations that compromise the reliability of QRPMS’s results. An improved QRPMS version is developed, and the results of the existing and improved QRPMS are compared in a mining industry case study. It is shown that the improved QRPMS delivers more accurate and reliable results. |
topic |
key performance indicator relationships performance measurement principle component analysis qrpms |
url |
http://sajie.journals.ac.za/pub/article/view/1872 |
work_keys_str_mv |
AT joostejohanneslodewyk improvementstowardstheidentificationandquantificationofrelationshipsbetweenkeyperformanceindicators AT bothalouisjona improvementstowardstheidentificationandquantificationofrelationshipsbetweenkeyperformanceindicators |
_version_ |
1724510128141500416 |