BPI Test 2 Benchmarking Questions and Answers
2 key types of benchmarking - ANSWER-Quantitative
Qualitative
7 steps of benchmarking - ANSWER-1. Set benchmarking priorities
2. Identify the key processes
3. Collect data operational and managerial
4. Identify examplar
5. Identify gaps
6. Identify roadmap
7. Close gaps and improve process
A study by APQC found that companies that were most successful in benchmarking
provided LOWER level management engagement and had a WEAK financial focus
True/False - ANSWER-False
All initiatives will be equally funded
True/False - ANSWER-False
Bechmarking - ANSWER-The study of a competitor's product or business practices in
order to improve performance of one's own company
The process of improving performance by continuously identifying, understanding, and
adapting outstanding practices and processes found inside and outside the organization
Benchmarking involves a clear plan to close the gap with measurable improvements
True/False - ANSWER-True
Benchmarking involves an identified examplar of that future performance
True/False - ANSWER-True
Benchmarking involves knowing where you want your performance to be
True/False - ANSWER-True
Benchmarking involves knowing your own performance and circumstances
True/False - ANSWER-True
Benchmarking involves understanding the gaps between NOW and FUTURE
True/False - ANSWER-True
Benchmarking is more easily driven in an environment that has a tradition of continuous
improvement
True/False - ANSWER-True
