A performance measurement system (PMS) is a concise and precise collection of measures (financial or non-financial) that assists an organization's decision-making process by collecting, processing, and analysing quantified performance data (Gimbert et al (2010). Owing to the fact that 2020 was the most difficult year for any company in the world, a number of organisations, including higher education institutions, are being forced to close their doors temporarily or permanently due to poor financial performance.

Based on the description given:

a) Even though 2020 was a difficult year for any organisation does not mean the organisation is exempt from performance measurement. If higher education institutions primarily relied on financial performance, EXPLAIN THREE (3) potential issues that could occur.

b) If, for example, CITY University wishes to utilize benchmarking as a performance indicator in 2020, EXPLAIN TWO (2) types of benchmarking that are most appropriate for CITY University. Provide example for each type of benchmarking. (20 marks)

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a Three potential issues that could occur if higher education institutions primarily relied on finan... View the full answer