Glossary:Benchmarking

From CAF Network
Benchmarking
This is a measured achievement at a high level (sometimes referred to as ‘best-in-class’see best/good/inspiring practice below); a reference or measurement standard for comparison; or a performance level which is recognised as the standard of excellence for a specific process. There are numerous definitions of benchmarking but the key words associated with benchmarking are ‘to make comparison with others‘. ‘Benchmarking is simply about making comparisons with other organisations and then learning the lessons that those comparisons reveal’ (Source: European Benchmarking Code of Conduct).