Monitoring the average time to complete tasks and monthly reporting of the findings during the month-end close process aligns with the definition of a Key Performance Indicator (KPI).
* Understanding KPIs:
* Performance Measurement: KPIs are used to measure how effectively a company is achieving its key business objectives. Monitoring the average time to complete tasks during the month-end close process provides a performance metric.
* Tracking Efficiency: By reporting these findings monthly, management can track the efficiency and performance of the system load capabilities.
* Specific Measure:
* Task Completion Time: The average time to complete tasks is a specific, measurable indicator of performance. It helps in understanding how well the system handles load and identifies areas for improvement.
* Continuous Improvement: Regular monitoring and reporting encourage continuous improvement, which is a core aspect of using KPIs.
* References:
* According to ISACA's guidelines on performance measurement, KPIs are critical for tracking the efficiency and effectiveness of processes and systems. They provide tangible metrics that help in decision-making and performance improvement.