Business performance management (BPM) is a set of processes that help organizations optimize business performance.
BPM is seen as the next generation of business intelligence (BI). BPM is focused on business processes such as planning and forecasting. It helps businesses discover efficient use of their business units, financial, human, and material resources.
BPM involves consolidation of data from various sources, querying, and analysis of the data, and putting the results into practice. BPM enhances processes by creating better feedback loops. Continuous and real-time reviews help to identify and eliminate problems before they grow.
BPM provides key performance indicators (KPI) that help companies monitor efficiency of projects and employees against operational targets.
BOTTOMLINE: Interesting to note throughout this definition that, while not explicit, BPM does not seem to address the most critcal element of performance management - execution.