Definitions for TrueValueMetrics
TVM has ambitious aims ... including to make it possible for the public to hold decision makers accountable and to make it impossible for decision makers to avoid responsibility for their actions.
The following is a common mindset: “I know what I am doing ... and God forbid that you or anyone else will try to hold me accountable!”
Checks and balances. There are systems that are in place that enable decision makers to trumpet their successes. There need to be equally strong systems that report objectively about the outcomes of all decisions ... both the successful outcomes and the unsuccessful outcomes. Data for this need to be collected, and they need to be easily accessible in a useful format.
Neutral data. Data should show what is ... good or bad. Data are neutral ... they merely attempt to reflect the truth about what is going on.
Objective analysis The TVM system treats all data in the same way using a uniform system. The TVM system aims to be as objective as possible incorporating the difficult concept of value as an integral part of the system. The reported results will reflect good and bad performance based on the underlying data.
Accountability ... Holding People Accountable
Holding people accountable is a key incentive to right behavior in society and among decision makers. It is human nature to make decisions that are most in favor of oneself and ones family and friends ... but that is not usually what is best for society, and the organization.
There is a lot of talk of transparency ... but there is less of putting transparency into action. Reporting is part of transparency.
But reporting is more than just a pro-forma ... reporting is a part of a process that helps people to understand.
Why the escalators don't work. The subway station at 63rd and Lexington on the F line is relatively new ... but the escalators are frequently broken down. Why? They are Otis escalators ... normally a high quality escalator manufacturer ... but in this installation they are not working well. The reason for this is some gross incompetence somewhere ... in the purchase and contracting for the equipment ... in the installation of the equipment ... in the ongoing maintenance and operation of the equipment.
Data about these decisions ... about the operations ... are hidden from view, so there will be no accountability for the responsible parties. But one thing we do know ... somewhere in this set up there is something very wrong.
Peer to peer information sharing is an emerging way for data to be transmitted to where there is the most value from data use. The web has enabled a significant amount of sharing already, but very much more will be possible with peer to peer sharing in a mesh environment. TVM seeks to provide a coherent framework so that data has some relevant reference points.