- submit your own original question and POST OF LESS THAN 300 WORDS. and cite
- submit a response to TWO other questions posed that week by your classmates and cite each one of them
1. Are non-monetary performance indicators important, and if they are, what challenges exist in using them?
In section 4.9 of our book, the notion is presented that non-monetary performance indicators have become more and more prevalent, forcing Civil Engineers to engage with the public and private clients much more often, and much earlier in the process than ever before.
- Environmental issues
- Disparate populations
- Anti-Nuclear activists
All of these groups have armies of supporters they can use to put pressure on decision makers and designers, to produce more favorable outcomes for their causes and push companies to consider these causes as part of their ongoing measurement of success.
The Wharton School of Business at UPENN, talks about five of the challenges of using non-monetary measures:
- The cost of considering a number of monetary and non- monetary measures is often greater than any benefits you might gain.
- Unlike the more standard economic efficiency measures, non-financial data are measured in a lot of different ways, meaning there are no common denominators.
- Difficulty linking non-monetary PI’s to financial PI’s to be able to justify the importance.
- Because non-monetary measures are less objective, they become much harder to track and what you can track is less reliable than more traditional KPI’s
- Some might say that the addition of non-monetary measures contributes to an overall dilution of the much more important financial measures.
2. How does monetary value affect index performance?
Monetary value is the amount of money a person, business, or market puts you into a product, product, or service. In fact, many of the goods and services in our modern economy have prices based on the value of money. Let’s look at some examples of resources, goods, and services that are priced:
- Items such as metals, agricultural products, oil, gas and other natural resources
- Visible material, which is the most personalized object, such as a computer, pencil and art
- Intangible assets, such as patents, copyrights, and copyrights
- The world
- Certain intellectual property rights, such as gas, minerals, oil, timber and water rights
- Work, such as salary and salary
- And businesses
In fact, almost everything related to our modern economy and market has value for money.