What Should be Tracked in Community Development? - Specific Types

Posted by Tim - 12 December, 2016

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“What we have is a data glut.” - Vernor Vinge

Determining the key measurements to be tracked in community development is an essential component of measuring the progress an organization is making towards accomplishing the objectives defined in the strategic plan.   The development of SMART goals will include a key result indicator (KRI) which is measured by various key performance indicators (KPIs).  Goals seek to improve how an organization is performing in various dimensions which support the overall mission and vision of the organization.  Selecting the best measurements to be tracked can be overwhelming given the vast amounts of data that can be collected in community development software.  Deciding upon the handful of KPIs that support a given KRI requires discipline and focus.  This article will define the main types of KPIs and provide a few specific examples to help you clearly define, “What Should be Tracked in Community Development?"

Key Performance Indicator Types

Quantitative Indicator - 

  • can be presented with a number.

Qualitative Indicators

  • cannot be presented as a number.

Leading Indicators

  • can predict the outcome of a process

Lagging Indicators

  • present the success or failure post hoc

Process Indicators

  • represent the efficiency or the productivity of the process

Input Indicators

  • measure resources consumed during the generation of the outcome

Output Indicators

  • reflect the outcome or results of the process activities

Financial Indicators

  • used when looking at an operating index

Output Indicators

  • reflect the outcome or results of the process activities

Directional Indicators

  • specify whether or not an organization is getting better.

Community Development Specific Examples 

Resident Satisfaction with Municipality as Place to Live

  • A survey that evaluates how satisfied residents are with the municipality as a place to live can help dictate the direction and investment(s) of the municipal government.

Change in Value of Commercial Property

  • The change in the value of commercial property indicates the current state of the commercial real estate market in a municipality. This measure is also correlated with the condition of the municipal economy.

Number of New Home Starts

  • The number of new home starts indicates the current state of the residential real estate market in a municipality.  This measure is also correlated to the condition of the employment sector.

Number of New Businesses

  • The number of new businesses is a measure that sizes up economic development. This is directly related to increases in municipal revenue.

Housing Opportunity Index Percentage

  • This measure requires observing the number of new and existing homes which were affordable to families earning the area median income and dividing that by the total number of homes using income and sales prices.

 “Things don’t have to change the world to be important.” - Steve Jobs

Now that you are familiar with the various types of KPIs and have been exposed to some specific examples, you are now ready to do the work of selecting the measurements that support your goals.  Many organizations have found that an investment in technology such as community development software is essential to automating the collection of data such as online permits, building inspections, code violations and work orders.  Having a software reporting system in place which can easily translate the collected data into useful measures and metrics will result in high levels of effectiveness and efficiency.  MyGov would enjoy the opportunity to learn more about you and help you to implement a solution for “What Should be Tracked in Community Development."

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Topics: Community Development


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