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DEFINITION 1: Performance indicator refers to the means by which an objective can be judged to have been achieved or not achieved. Indicators are therefore tied to goals and objectives and serve simply as âyardsticksâ by which to measure the degree of success in goal achievement.
(22 votes) Measuring performance is a critical factor in optimizing performance. Optimal performance is sustainably achieving multiple, often conflicting, objectives under changing conditions. Project performance, on the surface, seems easy to measure; just track time, cost and scope and itâs done.