define benchmark
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benchmark benchmark - a standard by which something can be measured or judged; his painting sets the benchmark of quality. 2. benchmark - a surveyor's mark on a permanent object of predetermined position and elevation used as a reference point.
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What is Benchmarking? - Definition, Types, Process & Examples In the business world, companies use benchmarking as a point of reference as well. But instead of having physical benchmarks carved in stone, they use benchmark reports as a way to compare themselves to others in the industry.ollaborative benchmarking-This is benchmarking as a part of a group. Many industries have associations they can join e.g., The Association of Information Technology Professionals, and The National Education Association. These collaborative associations allow for members to provide information to the association.
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point of reference benchmark-a surveyor's mark on a permanent object of predetermined position and elevation used as a reference point. bench mark. point of reference, reference point, reference-an indicator that orients you generally; it is used as a reference for comparing the heating and the electrical energy involved.
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baseline In project management, a baseline is a known state by which something is measured or compared.
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What is Benchmarking? - Definition, Types, Process & Examples - Definition, Types, Process & Examples. Companies use benchmarking as a way to compare key metrics to other businesses in the industry. This allows companies to see how well they are performing and identify ways they can become more competitive in the industry.
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- Benchmarking is a systematic tool that allows a company to determine whether its performance of organizational processes and activities represent the best practices. Benchmarking models are useful to determining how well a business unit, division, organization or corporation is performing compared with other similar organizations.
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What is a Benchmark Job? Also known as key jobs, benchmark jobs are positions that remain consistent across the industry in terms of salary, responsibilities, seniority and can therefore be compared from organisation to organisation.mployers can ascertain to what level of responsibility they are holding their employees and whether the salaries on offer are consistent with the same position across the industry. Employees can use the data when negotiating for a new job or for a pay rise/increase in responsibility when they’re already employed.
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- © 2013 McGladrey LLP. All Rights Reserved. Purpose of ratios and benchmarking. Important key performance measures – definitions and. calculations. Analyzing the results and taking action. Examples and discussion.
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BENCHMARKING Benchmarking is the process through which a company measures its products, services, and practices against its toughest competitors, or those companies recognized as leaders in its industry.
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- First, a quick explanation of the differences between a baseline and a benchmark, plus some more bits of nomenclature. 1  A Baseline is a known value against which later measurements and performance can be compared. 2  A Benchmark is a test at higher levels of pre-defined load for comparison against a baseline.
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- Definition. Common and defined job (or job category) for which pay data, and legal and other specifications are readily available. Benchmark jobs are used to make pay and other comparisons.earby Terms. 1  below the marke... 2  belt and suspen... 3  bench. 4  benchmark. 5  benchmark crude. 6  benchmark data. 7  benchmark index. 8  benchmark inter... 9  benchmark job. 10  benchmark measu... 11  benchmarking. 12  bending the cur... 13  benefactor. 14  beneficial inte... 15  beneficial occu... 16  beneficial owne... 17  beneficial owne...
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Baseline A baseline is a line that is a base for measurement or for construction. The word baseline may refer to: baseline (configuration management), the process of managing change. baseline (sea), the starting point for delimiting a coastal state's maritime zones Baselines of the Chinese territorial sea.
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- BENCHMARKING. A term now often used to describe performance assessment is benchmarking which seeks to asses the competences of an organization against “best in class” wherever that is to be found.ost organizations monitor their own performance in order to identify change in key business activities over time. This may mean looking at the performance of the organization as a whole or comparing the performance of difficult individual teams or business unit with each other.
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DEFINITION of 'Benchmark Crude Oil' DEFINITION of 'Benchmark Crude Oil'. Benchmark crude oil is crude oil that serves as a pricing reference, making it easier for sellers and buyers to determine the prices of multitudes of crude oil varieties and blends. Next Up.
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Benchmark (computing) 1 In general, benchmarks do not measure Total cost of ownership. 2  Transaction Processing Performance Council Benchmark specifications partially address this concern by specifying that a price/performance metric must be reported in addition to a raw performance metric, using a simplified TCO formula.
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Definition of 'Benchmark' Definition of 'Benchmark' Definition: A benchmark is an unmanaged group of securities which are considered as a 'benchmark' to measure a fund's/stock's performance. Benchmarks are generally broad market indices like BSE Sensex, CNX Nifty of the Indian stock market with which mutual fund returns are compared.
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bench A park bench in the fog. noun. The definition of a bench is a long, hard seat or work table, or an official's seat. An example of a bench is what people may sit on at a park. An example of a bench is where the judge sits during a trial.
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Breaking Bad Tutorial â How to Make the Logo on Photoshop Again, feel free to play around with the settings and choose what you like best and you are done! Finally, create a new layer on top of every other layer. Choose a large, soft brush and paint black around the edges of the canvas. Set the opacity of this layer to around 40%-50%.
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- Because any process, product, function in a business is eligible for benchmarking, methodologies vary. 1  Defining the subject of the benchmarking study. 2  Define the process or attribute to be studied in detail.  Select and define the measures.
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Benchmark (surveying) The height of a benchmark is calculated relative to the heights of nearby benchmarks in a network extending from a fundamental benchmark. A fundamental benchmark is a point with a precisely known relationship to the level datum of the area, typically mean sea level.
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What Is the Difference Between Benchmark Indicators & Key Performance Indicators? Benchmark indicators and key performance indicators are two measurements that help companies improve performance. You can set benchmarks and key performance indicators for individuals, departments, projects or the company as a whole, and use them to measure everything from manufacturing production to employee performance. Though similar in some ways, benchmark indicators and key performance indicators are not the same thing.
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- Benchmark Description. This application prices a portfolio of LIBOR swaptions on a LIBOR Market Model using a Monte-Carlo simulation. It simultaneously calculates first order sensitivities to the initial forward rates (the delta Greeks) using path-wise Adjoint Algorithmic Differentiation (AD).
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benchmark A benchmark is a point of reference by which something can be measured. In surveying, a bench mark (two words) is a post or other permanent mark established at a known elevation that is used as the basis for measuring the elevation of other topographical points. Download: Additional tips on choosing the best OS.
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- Benchmarking is key to developing clearly defined measures of competency and performance in human resources. Numbers lend credibility to the human resource function. Data supports comparisons, and provides a way to gauge progress. In step four, we learn communication and action must follow that benchmarking effort.he first phase of benchmarking involves planning. Part of the planning process calls for an audit review of what human resource processes have been successful and which have not. The only way to decide what is and is not working is to document, measure and analyze data.
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NIA Glossary of Clinical Research Terms Baseline – The initial time point in a clinical trial that provides a basis for assessing changes in subsequent assessments or observations. At this reference point, measurable values such as physical exam, laboratory tests, and outcome assessments are recorded.
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What is a 'Benchmark' The Wilshire 5000 is also a popular benchmark representing all of the publicly traded stocks in the U.S. When evaluating the performance of any investment, it's important to compare it against an appropriate benchmark. Identifying and setting a benchmark can be an important aspect of investing for individual investors.