Key Performance Indicators (KPI) are financial and non-financial metrics used to quantify objectives to reflect the performance of an organization. KPI's are used in HIP to assess the present state of your housing authority and to prescribe a course of action. The act of monitoring KPI's are frequently used to “value” difficult to measure activities such as the benefits of leadership development, service, and satisfaction.
In Public Housing Authorities, KPI's are typically used to monitor the performance of the housing authority staff on a set of metrics defined by HUD. HUD has set up two programs to monitor the Public Housing and Section 8 programs. The PHAS program is used to monitor a set of KPI’s for Public Housing. The SEMAP program is used to assess the management of the Section 8 program. These two HUD programs should be considered a minimum set of KPI's for a housing authority.
HIP KPI's are divided into 3 groups:
Financial Management (Accounting)
Every key performance indicator (KPI) is available to view in two different ways, current and historical, and each view can be used for different types of analysis. There are also 5 different view types (bar graph, line graph, pie chart, gauge, drill-down scorecard).
The viewing layout of a KPI can be customized to a user's unique specifications and each user in your organization can have a different layout for the same KPI.
A limit is a highlighted band of data within a KPI that each user can create by specifying an upper (maximum) boundary value and lower (minimum) boundary value. This limit area can then be assigned a "good," "bad", or "unknown" (informational/reference only) status.
Each KPI in your HIP system can have its own limits and each user in your organization can have a different limit for the same KPI. For example, the Executive Director may want to know when vacancies exceed 5% of total units, while each project manager may want to set the limit at 3%. With limits, a quick glance at the HIP view will tell you whether the metric is within range or needs attention.
After setting up limits, you can then subscribe to be informed, or "alerted", when a KPI reaches a certain limit, and whether it is good, bad, or for reference purposes only.
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