Performance Measurement System (PMS)

1. Introduction

The Advanced Management Accounting unit promotes professional accountants as a value driver (business leaders). It emphasises the role of the professional accountant in engaging with the organisation's senior management team to contribute to strategy development and implementation. The aim is to create customer value and a strong organisational competitive position. This subject focuses on developing, implementing, and monitoring strategies to enhance organisational value. Such a focus would not be possible without understanding the key role that performance measurement plays in strategy and value creation.

The need for sound design and understanding of the use and implication of strategic performance measurement and control systems is gaining increasing importance in all organizations. This assignment sets the context for performance measurement and control, including the:

• Characteristics of effective performance measures and control systems;
• Use of performance measures; and
• Application of performance measurement to motivate and reward.

Required:

Conduct substantive research on an organization of your choice (more specifically where you are working) in Fiji, highlighting the context of the assignment and also answering the key question:

• How does performance measurement help to achieve goals and objectives through setting targets and measuring performance against those targets through control and feedback systems?