What is a Benchmark, and How do we Do Benchmarking?

In this video, I answer two questions. 1. What is a Benchmark, and 2. How do we do benchmarking? 🎓 Learn Project Management with Mike: The Project Manager's Skills Mastery Program - https://school.onlinepmcourses.com/p/pm-skills-mastery Join this channel to get access to perks: https://www.youtube.com/channel/UCMZfp1_wquyegVY9SoER0Nw/join Recommended Videos Carefully curated video recommendations for you, that answer the question, 'What is... 🎬 Business Analysis? And what is a Business Analyst? https://youtu.be/xFsrdEtOqzg 🎬 KPIs? Key Performance Indicators https://youtu.be/soiChkomKmo 🎬 Kaizen? and Continuous Improvement? https://youtu.be/VnK2XHvMF1Q 🎬 The Kano Model? Project, Product, or Feature Prioritisation https://youtu.be/A32yHlkVGHk 🎬 Product Management? ...and a Product Manager? https://youtu.be/XIwfHnW3kQI 🎬 New Product Development (NPD)? And How to Do it... https://youtu.be/uKGFP2qxKm0 🎬 A Business Blueprint? https://youtu.be/OJvN_5Vs6kw 🎬 Role-Activity Diagrams? (RADs) - aka Swimlane Process Diagrams https://youtu.be/ZlET6QeFIno 🎒 A while back, I asked Project Managers in a couple of forums what material things you need to have, to do your job as a Project Manager. They responded magnificently. I compiled their answers into a Kit list. https://kit.co/MikeClayton/what-a-project-manager-needs Note that the links are affiliated. 🎬 For more great Project Management videos, please subscribe to this channel: https://www.youtube.com/channel/UCMZfp1_wquyegVY9SoER0Nw?sub_confirmation=1 🎁 For all our great Project Management articles and resources, please check out the OnlinePMCourses website: https://onlinepmcourses.com/ 🏛 For basic Management Courses - free training hosted on YouTube, with 2 new management lessons a week, check out our sister channel, Management Courses: http://youtube.com/c/managementcourses 🎓 For more of our Project Management videos in themed collections, join our Free Academy of Project Management: https://onlinepmcourses.com/free-academy-of-project-management/ ⏱ Chapter Markers... 00:00 - What is a benchmark? What is benchmarking? How to do Benchmarking 00:12 - Definition of a benchmark 01:01 - Use of benchmarking in business 03:31 - The benchmarking process 04:24 - Use of proxy measures 04:58 - Benchmarking process, Step 1 05:41 - Benchmarking process, Step 2 06:10 - Benchmarking process, Step 3 07:05 - Benchmarking process, Step 4 #Benchmark #Benchmarking #ProjectManagement