This term is defined in the 5th edition of the PMBOK. Examples of summative assessments include: a midterm exam. Summative assessments are often high stakes, which means that they have a high point value. All of these are necessary to determine novel practices that can be adapted to the organization. The goal of summative assessment is to evaluate student learning at the end of an instructional unit by comparing it against some standard or benchmark. Appendix 1: Definitions of ecosystem services. You can use benchmarking to measure the performance. Project Team at the United Nations Environment Programme Finance. Available techniques for benchmarking involve surveys, quantitative research, marketing research, process mapping, financial analysis and review cycles. A benchmark is a reference point against which a business can compare processes, operations, and products. An Example of a Competitive Benchmarking Project at a Fortune 500 Business. This project management term is applicable to all types of business processes and different techniques are necessary for the different processes in question. Put another way: It’s a way of seeing how business performance, like the late Ted Stevens’ infamous series of tubes, runs from the individual-employee-desk level all the way up to the macro-market level. The manager records that definition in a project charter or project definition document. In fact, there are different benchmarking methods developed over time but it is important to understand the 12 elements of benchmarking which include the selection of subject, identification of processes, potential partners, data sources, collection of data, gap determination, process differences, target performance, communication, goal adjustments, implementation and review of the adopted process. The term project definition refers to the work a project manager, sponsor, and stakeholders undertake at the project onset to determine the goals and needs. There is no single benchmarking process that has been adopted and must be followed by everyone. During the process of benchmarking, those in project management identify firms or departments that have similar processes. Benchmarking can be done both internally and externally. The dimensions that are measured during benchmarking usually involve time, cost and quality. It is often done to identify best practices that can be implemented within the organization to generate improvement of their project management venture. Benchmarking is the comparison of planned or actual processes, practices, and operations to other comparable organizations.
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