Mistakes to be avoided
It is important to prevent some general mistakes to achieve the desired targeted advantages from the benchmarking exercise:
1. Benchmarking should not be just for the sake of doing.
2. Not defining the data items correctly and consistently and not collecting the data accurately limits its effectiveness.
3. Not spending sufficient time in the beginning to select right framework of performance indicators and subsequently spending too much time on one part of the process at the cost of other key parts.
4. Focusing entirely on comparisons of performance measures and ignoring the processes and activities for improvement.
5. Relying on pre-existing benchmarks instead of modifying/adapting according to organizational needs.