Crown Corporations Council
Conseil des corporations de la Couronne

Corporate Performance Measurement and Reporting

Council has devised a matrix of fifteen key components critical to an effective, functional and valuable corporate performance measurement and reporting system, as it pertains to Crown Corporations.

These components are:

1. Public policy goals should be the basis for the strategic plan and performance measurement and reporting.
2. Performance measurement should be linked to strategic planning processes and its cycles.
3. Corporate mission, vision and goals should be clearly stated at a high-level with a long-term focus.
4. The system should show a clear cause-and-effect control loop to provide accountability and usefulness to the measures and outcomes.
5. Strategic corporate, business unit and individual plans and measures should be translated and communicated internally (horizontal and vertical). This includes: (5a) Cascade and hierarchy of strategic plans and measures; (5b) Communication of strategic plans and measures; and (5c) Accountability and empowerment of the workforce.
6. Measures should be prioritized and short-listed to 8 to 15 key corporate measures.
7. Measures should comprise a balanced set of components for: (7a) Outcome, output and input measures; and (7b) Financial and non-financial measures.
8. Measures should fulfill best practices.
9. Measures should have targets in place to measure progress against, as well as stated actions to achieve goals or sustain the target level.
10. The performance management system should be continuously reviewed, modified, evolved and implemented every planning period.
11. Results should be benchmarked against industry-related corporations (private or public) with acknowledged best practices.
12. Performance goals, measures, targets, actions and outcomes should regularly be reported in an integrated simplified format, like a dashboard or brochure.
13. Results should be regularly reported to the Crown Corporation's Board of Directors and used to monitor the corporation's performance.
14. Results should be regularly reported to the Crown's Minister Responsible and the Legislative Assembly with proper feedback provided to complete the communication loop.
15. Finally, the results should be regularly reported to the public.

These components formed a framework upon which each selected Crown's existing measurement and reporting was assessed. The components comprise the key findings for best practices and consequently also encompass the overall recommendation to which the Crown Corporations should consider. Flexibility is given to the unique business and corporate environments to which each Crown is subject.

Download a copy of:
Corporate Performance Measurement and Reporting

December 2005 Update

Background

One of the duties of Council is to facilitate in co-operation with each corporation the development of consistent and effective criteria for measuring the corporation's performance.

In 2001 Council staff prepared a comprehensive best practice resource guide to facilitate the development of corporate performance measurement in the Crowns under Council's purview. The guide was provided to and discussed with all the Crowns.

In 2002 the Office of the Auditor Geenral of Manitoba issued its review of Current Practices in Performance Reporting in Annual Report Among Crown Entities which included those that are under Council's purview.

Current Status

There have been no major developments in best practices in this subject area that warrant an update to the 2001 document. Council will continue monitoring and maintenance regarding this duty and further substantive work in this area does not appear necessary. Both the 2001 document and the Auditor General's report should continue to serve as guidance to the Crowns regarding best practices.