Performance management framework
The Chartered Institute of Procurement & Supply (CIPS) Glossary of procurement terms, defines performance as: ‘A term used in contract law to describe what should be done.’
It suggests that performance management is: ‘Any activity that is carried out to make sure goals are achieved’ and that a performance management framework is: ‘A series of standards and targets that are to be achieved by the supplier, definitions of how performance against those standards will be measured and actions expected to be taken on the basis of the measurement results.’
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