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Date: 2019-07-17 Page is: DBtxt001.php list0300-Management-cycle-1

Definitions for TrueValueMetrics
Management Cycle

The basic management cycle is very simple ... but often absent. TVM has data at the center of the management process. Data are needed to develop management information which is central to the process ... to know what is being achieved, and how it can be improved.

“Management information is the least amount of information
that enables a good decision to be made in a timely way.”

This is a simple representation of the TVM perspective of the management cycle.

IMAGE

The management cycle has three elements ... repeated over and over again: (1) Collect data, do analysis; (2) plan and organize; and (3) implement ... and measure and analyze. These are reflected in the following schematic. Everything has a data component.

IMaGE



The text being discussed is available at


TrueValueMetrics (TVM) is an Open Source / Open Knowledge initiative.
It has been funded by family and friends plus donations from well wishers who understand
the importance of accountability and getting the management metrics right.
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