Benchmarking Practice Exam

About Benchmarking
Benchmarking is a process of measuring the performance of a company’s products, services, or processes against those of another business considered to be the best in the industry, aka “best in class.” The point of benchmarking is to identify internal opportunities for improvement. By studying companies with superior performance, breaking down what makes such superior performance possible, and then comparing those processes to how your business operates, you can implement changes that will yield significant improvements.

That might mean tweaking a product’s features to more closely match a competitor’s offering, or changing the scope of services you offer, or installing a new customer relationship management (CRM) system to enable more personalized communications with customers.

Why is Benchmarking important?
In addition to helping companies become more efficient and profitable, benchmarking has other benefits, too, such as:
•    Improving employee understanding of cost structures and internal processes
•    Encouraging team-building and cooperation in the interests of becoming more competitive
•    Enhancing familiarity with key performance metrics and opportunities for improvement company-wide
•    Gain an independent perspective about how well you perform compared to other companies
•    Drill down into performance gaps to identify areas for improvement
•    Develop a standardized set of processes and metrics
•    Enable a mindset and culture of continuous improvement
•    Set performance expectations
•    Monitor company performance and manage change

Who should take the Benchmarking Exam?
•    All - business professionals looking for self/ business performance
•    Business process owners seeking improvement
•    Entrepreneurs or Innovators
•    Anyone who wants to assess their benchmarking skills
•    Benchmarking consultants
•    Any professional with skills and knowledge on benchmarking
•    Students

Knowledge and Skills required for the Benchmarking

Specific skills are needed to excel in career of benchmarking which includes analytical bent of mind and quick learning skills.

Benchmarking Practice Exam Objectives

Benchmarking exam focuses on assessing your skills and knowledge in concepts and application of Benchmarking

Benchmarking Practice Exam Pre-requisite

There are no prerequisites for the Benchmarking exam.

Benchmarking Certification Course Outline

1. Benchmarking Basics
1.1 What is Benchmarking
1.2 Why Benchmarking?
1.3 How Much Benchmarking?
1.4 Which Results Will You Get?
1.5 How much structure?
1.6 Who Should Benchmark?

2. Benchmarking Process
2.1 Problem Identification
2.2 Problem Definition
2.3 Process Selection
2.4 Making the Business Case
2.5 Launching the Team

3. Assess
3.1 Self-assessment
3.2 Process Documentation
3.3 Process Measurement
3.4 Investigate & Select Partners
3.5 Schedule the Benchmarking Meeting

4. Analyze
4.1 Compare data
4.2 Identify best practices
4.3 Recommend Improvements
4.4 Adapt
4.5 Implement Change
4.6 Monitor Improvement


Exam Format and Information
Certification name – Benchmarking Certification
Exam duration – 60 minutes
Exam type - Multiple Choice Questions
Eligibility / pre-requisite - None
Exam language - English
Exam format - Online
Passing score - 25
Exam Fees  - INR 1199