Last edited 14 Sep 2020

Benchmarking as business tool

To help develop this article, click 'Edit this article' above.

Benchmarking is a business enhancement, planning and development tool, it is widely used by the legal professions. The analysis focuses on four key areas:

Benchmarking provides an opportunity to assess performance against comparable businesses and gives an insight into the current business environment.

The RIBA provides a benchmarking service based on an annual survey of the UK architect’s profession. This annual benchmarking survey provides vital business knowledge about how a practise compares to others across a broad spectrum of criteria. Practises are able to make comparisons with the average data provided for practises of similar size, type and region. This allows them to identify areas of strength weakness and opportunity, and to develop a strategy that aims for improvements on a yearly basis.

Benchmarking is also a process that takes into consideration the estimated performance of a project and if costs are been compared, can highlight areas of design that do not offer good value for money. It can also aid in the assessment of tenders from suppliers and contractors, creating a baseline for a cost/ value led approach to procurement. For more information see project benchmarking.

[edit] Related articles on Designing Buildings Wiki

Designing Buildings Anywhere

Get the Firefox add-on to access 20,000 definitions direct from any website

Find out more Accept cookies and
don't show me this again