There are 5 types of actions:
The first 3 are for measurables. The last 2 actions are for trackables. A measurable is something you can measure using a KPI.
- You intend to track progress like completion %. Percentage Tracked
- You may want to Increase Revenue and hence will choose Increase KPI as the action.
- You want to reduce cost and hence will choose Decrease KPI as the action.
- Sometimes you may want to maintain a certain KPI in a range. For example, Employee Training Hours. You may want to maintain that in between 20-30 hours a year. In that case, you will choose Control KPI as the action.
- If you don’t know the current value of a KPI, you typically go with the Baseline KPI action to assess where you are, and then figure out what to do next.
- There are other situations where you want to Milestone Tracked, but that is not something that can be measured. For example, you want to open a new retail store in Manhattan or you want to open a new office in London or you want to hire a new VP of sales for EU. These are not measurable, but certainly trackable using a set of milestones.