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An act, process, or methodology of making something (such as a design, system, or decision) as fully perfect, functional, or effective as possible

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The results of activities of an organization or investment over a given period of time

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"To coordinate the operational side of the world with the managerial side of the world, which is a scenario that has been woefully neglected. That's where performance management adds value—by leveraging the investments in the operational systems, and taking the enterprise to the next level of effectiveness and efficiency by automating the managerial side of the organization (H. Dresner)"