What is performance standards in SAP LOD-SF-PM - Performance Management?

SAP Term: performance standards

• Component: LOD-SF-PM

• Component Name: Performance Management

• Description: The expected levels of performance.

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• Key Concepts: 
  Performance standards are the criteria used to measure the performance of an individual or team. They are used to evaluate how well an individual or team is meeting their goals and objectives. Performance standards can be based on a variety of factors, such as customer satisfaction, quality of work, productivity, and cost-effectiveness. 
  
  How to use it: 
  In SAP Performance Management, performance standards are used to measure the performance of an individual or team. The performance standards are set by the organization and can be customized to meet the specific needs of the organization. The performance standards are then used to evaluate the performance of an individual or team and provide feedback on their progress. 
  
  Tips & Tricks: 
  When setting performance standards, it is important to ensure that they are realistic and achievable. It is also important to ensure that the performance standards are regularly reviewed and updated as needed. This will ensure that the performance standards remain relevant and up-to-date. 
  
  Related Information: 
  For more information on SAP Performance Management, please visit the SAP website at https://www.sap.com/products/performance-management.html