KPI Project: A New Tool to Measure Performance

Tuesday, June 21, 2011

InterManager, the international trade association for the shipmanagement industry, announced the completion of the development phase of its six-year
project to produce an industry wide performance measurement tool.
The Project is set to be rolled-out to the worldwide shipping industry.
Working with The Norwegian Research Council , Marintek, Wilhelmsen ASA and a range of Industry Stakeholders, InterManager has developed a global shipping industry standard for defining, measuring and reporting information on operational performance.
The Shipping KPI Project proposes a global shipping industry standard for defining, measuring and reporting information on operational performance in order to boost performance improvements internally in companies engaged in ship operation activities and provide an efficient communication platform about ship operation performance information to internal and external stakeholders through increased transparency.
InterManager President Alastair Evitt, Managing Director of Meridian Marine
Management Limited, announced this milestone at a lunchtime reception at the London offices of the International Maritime Organisation today (June 21st). “I am delighted that InterManager members, in collaboration with many industry stakeholders, have been able to bring this comprehensive new measurement system to the worldwide maritime industry. It has taken a great many hours of work and a huge commitment from our membership and other stakeholders to develop the KPI Project and we look forward to working with all industry stakeholders to ensure it grows into a widely used tool that contributes to placing safety and quality firmly at the heart of the shipmanagement
process, he said.
George Hoyt, InterManager Vice President and chairman of the InterManager KPI
committee, gave thanks to all members of the InterManager KPI working group and stakeholders. He said, "The KPI project is the greatest example of ‘team work in shipping’ that I have ever been involved in. Every member of the InterManager KPI working group, and the stakeholders who participated in the project, have made valuable contributions. The position we are at today could have only happened with their extraordinary level of cooperation and their common goal of self improvement by creating solutions through collaboration.
He added: “This tool can help us achieve higher levels of effective communication that will lead to greater levels of safety for our seafarers and efficiency for all operators. Given the proper support, this voluntary initiative will be a giant step forward in the industry's
journey towards continuous self improvement and higher levels of safety. Increased levels of transparency will also help us overcome many of the challenges that currently exist in boosting the image of the shipping industry.”
The Shipping KPI Standard – Key Facts:
• A voluntary industry initiative
• Proactive relative to regulators
• Meeting future transparency requirements
• Informing public opinion
• Provide consistent external performance communication
• Indicating policy and regulatory implementation effects
• Internal improvement
• Fleet/industry benchmarking
• Performance based contracting 

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