We define benchmarking as the search for best practices. Benchmarking allows your organization to see what others are doing, what is working for them, and what to avoid. Benchmarking is the process of identifying, understanding, and adapting outstanding practices and processes from organizations anywhere in the world to help your organization improve its performance.
A best practice is a proven and documented strategy or tactic that delivers measurable improvements in economies, efficiency and/or effectiveness. Best practices drive a measurable change in performance, are proven in practice, apply to a broad spectrum of organizations, exploit proven technologies, and ensure effective control and risk management.
Best practices allow private-sector organizations to outperform their competitors and peers in specific operational areas…and deliver more value at less cost. They allow public-sector organizations to deliver their programs more effectively and efficiently, while retaining compliance with their enabling legislation.