Performance Management

This article discusses the concept of performance management as it applies to condominium corporations. Performance management involves setting measurable targets and goals to improve operational efficiency and overall performance. While performance management has been widely adopted by profit-driven organizations, its practicality and appropriateness for condominium corporations, which are typically non-profit, are questioned. The article examines the three levels of management in condominiums (Board of Directors, Property Manager, and Superintendent) and the challenges in identifying measurable metrics and targets. While some performance targets can be considered, implementing a comprehensive performance management system similar to profit-driven organizations may not be practical for condominiums. The article suggests a few areas for potential performance targets and emphasizes the importance of considering the effort and costs involved in tracking and measuring performance. Ultimately, the decision to adopt performance management in a condominium corporation should be carefully evaluated to determine its feasibility and benefits.