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Performance Metrics in Modern Journals

Performance Metrics in Modern Journals. Benjamin Lynch Co-Editor-in-Chief, Virginia Policy Review. Agenda. Performance Metrics Types of Indicators Five Steps to Successful Performance Metrics Work Time Questions. What are Performance Metrics? .

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Performance Metrics in Modern Journals

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  1. Performance Metrics in Modern Journals Benjamin Lynch Co-Editor-in-Chief, Virginia Policy Review

  2. Agenda • Performance Metrics • Types of Indicators • Five Steps to Successful Performance Metrics • Work Time • Questions

  3. What are Performance Metrics? • Performance metric – a measurement that determines behavior or performance

  4. Performance Metrics Track Progress • Why are performance metrics important? • Track successes and failures • Guide strategic planning • Identify opportunities for short-term intervention • Provide benchmark information to measure effect of organizational changes

  5. Many types of Indicators • Types of Key Performance Indicators: • Speed • Accuracy • Volume • Investment • Can be internal and external • Can be quantitative and qualitative

  6. Speed Indicators • Response • With authors and with staff • Turn around • Editorial process • Project completion • Meeting scheduled time

  7. Accuracy Indicators • For readership: • Focus groups • Reader surveys • Website comments • Opinions of editorial staff and policy school colleagues • Independent third-party analysis • E.g., Hiring a professional copy editor to review publication

  8. Volume Indicators • Number of submissions • Number of acceptance pieces • Number of subscriptions sold • Website: • Total page views • Length of page view

  9. Investment Indicators • Measures spending levels or % of budget spent on each activity • E.g., per event, per issue, per staff member, etc., • IMPORTANT: Justification to school that your journal needs more money.

  10. Five Steps to Effective Performance Metrics* • Objective: Develop at least two (2) metrics that can be used starting when you return to school on Tuesday. • *From Capilano University’s Open CourseWare’s Course on Introduction to Strategic Management found here.

  11. 1. Define Desired Outcome • Outcome should be a non-quantified goal. • Desired outcomes should be established for bothjournal-level inputs and outputs. • Example: • Input: VPR wants to increase the number of submissions. • Output: VPR wants to publish a journal that is read by more people.

  12. Alignment is important

  13. 2. Develop Output Measure • For each goal, develop a metric to measure the output of that goal. Establish a target benchmark of success. • The metric does not have to be quantified. • Example: • Quantitative: VPR will increase submissions by 10%. • Qualitative: VPR will be rated better or higher using the following system: • Poor – Fair – Good – Better – Best

  14. Alignment is important

  15. 3. Develop Input • Regardless of whether a goal is an input or output goal, there is generally a step before that that can be measured. Set a benchmark to measure your success. • IMPORTANT: Establishes a chain of data that identifies where breakdowns occur. • Example: • Each VPR editor will email 25 people in their personal call for submissions. • Each VPR editor will post and tweet the link to the new article on Facebook and Twitter, respectively.

  16. Alignment is important

  17. 4. Measure and Test • Use Measurement to Initiative Change • Establish a formal system of tracking data. • Regularly review the data. • Construct a process for using data. • Celebrate successes. • Isolate areas that cause failure. • If you have existing data, try to use it to evaluate whether your metrics will measure your desired goals.

  18. Performance Metric Dashboard

  19. 5. Build Organizational Culture • Good organizations use data, but improvement does not happen on paper. • Strategies: positive performance incentives, all-staff data entry/analysis sessions, data presentations to faculty, State-of-the-journal address, etc. • Improvement can occur when people enjoy what they’re doing, know it’s important, and general morale is high.

  20. Work Time • Objective: • Develop at least two (2) metrics that can be used starting when you return to school on Tuesday. • IF you already have effective metrics, plan strategies to build a culture that will continue to use performance metrics after you leave your editorial staff. • Time: 10-15 minutes • After, we’ll reconvene for group sharing and questions.

  21. Developing Metrics Template

  22. Questions

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