The application of a value based management (VBM) (also known as Managing for Value) process at Avrotec, a British Aerospace aircraft maintenance and refurbishment business (now BAE Systems, Aviation Services), resulted in a turn around from a 500,000 pound loss into a 2,000,000 pound profit between February - May 1997. Among other things the process involved the identifying and prioritising of less than 10 KPIs to replace 250 performance measures, which were reduced to monitor status or dropped...
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