Benchmarking benchmarking is comparing actual or planned products or processes or practices to those of comparable organizations to identify the best practices generate the ideas for improvement and provide a basis for measuring performance. So, the idea is very simple. I am in a construction, I want to see the processes I want to benchmark myself so that I can move and get better in terms of processor in terms of quality in terms of delivery and that can happen two ways either I start doing it everything myself and learning that what is available and what is not what I could do or not all I go and see and study the other successful companies within my industry. It could be it could come to the processor. So, I want to see that the process of an IT department, how they deal the support queries and how the other department is the support query, I can learn from them I want to so that I can I can ask them, how they have how they are doing it and I can start improving in that time.

So, benchmarking allows for analogies from project in a different application area or different industries to me, it compares actual or planned project practices to those projects to generate ideas for improvement and to provide a basis for measurement performance, benchmarking is comparison comparison to other in the same kind stat is the most important item. Same kinds I cannot compare an IT organization with construction and manufacturing concerned with another construction and manufacturing concern. We have to see we have to know which industry we are In pharmaceutical and PR in doing the chairs furniture for every industry and every organization has different industries to be have to have in the same kind. So, goal is to evaluate the difference between the projects with different between the organization different between the processes, so that we can improve some fair and gathering data from top performance compare and generate ideas to improve processes.

In project management process benchmarking can also support the selection planning and delivery of the product, how others are doing it, how they are doing it, so, nicely. So, better with such a good output rate with so much with such a good performance. This is what we need could do when we are talking about benchmarking in terms of project management, identify the process product improve, identify the key performance indicators, very important. What How would you say that, yes, you have done something good or you have achieved again, from the Beginning we are saying everything has to be measurable you cannot just say we have moved or we have done great know what is good great nice bad was told we are not doing it we need to know the numbers it has to be measurable. What in fact you are actually looking for when you are doing a benchmarking the baseline your current process and then start moving up then a defined target based on your current baseline and research.

Yes, your resources your benchmarking says that other companies here but obviously you cannot jump why not one in one go from here to there. So, you have to define your own process. You have to identify that what would you do based on your capabilities based on your gas based on your infrastructure based on your requirement? Yes, you are saying the best of the breed has a specific ELD system in our industry but and they are using it in them where we cannot jump at vrF paper based organizations. So we might need to have a transition state in some way to move into that direction to define the plan to return us with focus groups, market research and academic academic research and service calls goals because of failing to understand the difference in terms of department in terms of processes in terms of same time in terms of the organization industry, if we don't able to understand if we don't able to know what is different between between us and them, we will not able to benchmark nicely we will not able to identify what we will have a false goal we will not know our final destination would not be reachable, specific indicator like cost per unit productivity per unit cycle time per x per unit.

They have to be specific as I have already explained measurable Who's our KPIs ID and then they are used in five point to collect requirements 8.1 quality management, reading trying to plan stakeholder management. When you are talking of collect requirement, you are saying this is where we want to reach this is our requirement. When you are talking about quality requirement, they're saying our output should be three sigma. This is what the benchmark is. When you are talking of plan stakeholder management is how do you do the way others manage our stakeholder? What kind of requirements they they usually have what kind of reports will usually provides to them, this is what the benchmarking is.

And on the next slide, we will look into these how there are some further benchmarking. So, we can have an internal benchmarking and external benchmarking, which is different groups or team within organization and external benchmarking is with Some fitness specific industry or across an across industry in some time we do across industry based on the likeliness in our process based on the Okay, we have the same process and they have the same process. So let's go and see how they are doing it. And marking could be processed benchmarking performance benchmarking and strategic benchmark. Performance is a goal of identifying and observing the best practice from one or more benchmarking funds. This is processes what processes they are using performance by comparing products and services and strategies by observing how others come beat the long term what they are what are they doing good or better that they are continuously getting better results.

So this is what benchmarking is. Thank you for your time. And if you have any question, please let me know. Till the next slide or till the next session. Good luck. I'm here to support you.

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