Riyadh, 28 Nov, 2023: Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations, The Red Sea and Amaala, has become the first company worldwide to receive the highest level (Optimized) of recognition for their Integrated Performance Excellence practices from the prestigious The KPI Institute

The certification assesses the company’s Strategy & Performance Management Architecture design and implementation. RSG was awarded the maximum accreditation, Level 5, While the average maturity level in the GCC region is a commendable three out of five. The KPI Institute’s report noted RSG’s innovation of the Balanced Scorecard methodology. The developer added sustainability as a fifth perspective, underpinning the importance of ESG and regenerative tourism for the company.

“From day one, our goal was to set new standards in everything that we do. We are proud to have achieved the highest possible level in this certification, reflecting our comprehensive approach to planning and performance, which is not merely about adhering to established norms but about redefining and innovating them,” said John Pagano, Group CEO at Red Sea Global.

The KPI Institute, through its strategy & performance audit division, the Global Performance Audit Unit (GPA Unit), provides a holistic assessment covering five critical dimensions: Strategic Planning, Performance Measurement, Performance Management, Performance Culture, and Employee Performance Management.

Adrian Brudan, General Manager EMEA of The KPI Institute and GPA unit said: “Red Sea Global has dedicated itself to the development and enhancement of its strategy and performance management practices, aligning them with its strategic intent and industry best practices while adding sustainability as a key and core capability in order to achieve performance excellence. This commitment reflects the company’s visionary leadership, dedicated workforce, and state-of-the-art performance management architecture. With this achievement, Red Sea Global sets a new benchmark for excellence within its industry and beyond.”

Last month, The Red Sea welcomed its first guests. Two of its hotels are open for bookings and the Red Sea International Airport has been receiving a regular schedule of flights since September. Upon full completion in 2030, the destination will comprise 50 resorts, offering up to 8,000 hotel rooms and more than 1,000 residential properties across 22 islands and six inland sites. The destination will also include luxury marinas, golf courses, entertainment, F&B, and leisure facilities.

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About Red Sea Global

Red Sea Global (RSG – www.redseaglobal.com) is a closed joint-stock company wholly owned by the Public Investment Fund (PIF) of Saudi Arabia.

RSG is a global multi-project developer, seeking to lead the world towards a more sustainable future, showing how responsible and development can uplift communities, drive economies, and enhance the environment.  The protection of natural capital is central to all development decisions, as the organization seeks to create a better future for all.

A cornerstone of Saudi Arabia’s Vision 2030 ambition to diversify its economy, RSG is playing a key role in transforming the nation, by creating exciting opportunities for young Saudi talent and the private sector, as it develops built assets and destinations across multiple sectors that make a positive impact for people and planet.

RSG is the visionary company behind some of the world’s most ambitious development ventures, including luxury regenerative tourism destinations such as The Red Sea, Amaala and Thuwal Private Retreat. It has also been entrusted with refurbishment works at Al Wajh Airport, focused on upgrading the existing terminal and infrastructure, and building a new international terminal.

Across its portfolio, RSG leverages the most innovative concepts, strategies, and technologies to deliver projects.

Contact details

For more information, please contact:

Jack Williams: Associate Public Relations Director

[email protected]

About The KPI Institute & GPA Unit

The KPI Institute (TKI) is a worldwide leader in performance management and KPIs training and certification. It operates research programs in 12 practice domains, disseminates industry insights through publications and knowledge platforms, and provides support in deploying those insights through training and advisory services.

The Global Performance Audit Unit (GPA Unit) is the strategy and performance audit division of The KPI Institute. Its purpose is to provide integrated strategy and performance assessment solutions through rigorous research, education and analysis.

Based on over 15 years of experience and a combination of academic and practitioner research in the field of strategy and performance, we have developed a unique set of frameworks for assessing the maturity level of organizational performance management systems.

The concept and services of the GPA Unit are available worldwide, as it is supported by a dedicated online platform and a global network of collaborators, www.gpaunit.org.

Contact details

For more information, please contact:

Adrian Brudan: General Manager EMEA, TKI

[email protected] | Contact Number: +40 721 233 084

The Global Performance Audit (GPA) Unit, a division of The KPI Institute (TKI) specializing in strategy and performance audits, is delighted to announce the completion of its performance management system maturity assessment for the Saudi Authority for Industrial Cities and Technology Zones (MODON). The comprehensive audit scrutinized MODON’s strategic planning, performance measurement, performance improvement, performance culture, and employee performance management capabilities.

Employing the Maturity Model Frameworks devised by the GPA Unit that encompasses over 300 statements embodying best practices, the assessment evaluated the structure and maturity level of MODON’s organizational capabilities. This methodology involves an evidence-based assessment, a perception-based assessment, and an interview-based assessment.

According to The GPA Unit’s audit findings, MODON’s performance management system has achieved a Level IV maturity (integrated), positioning MODON among the top-ranking Gulf entities in terms of performance management system maturity level in 2023.

Fadi Al-Jafari, a senior management consultant at TKI and auditor involved in the maturity assessment project for MODON, commended the government agency’s well-established performance management system. He highlighted the presence of “formal processes, procedures and practices for all five capabilities evaluated.”

He further emphasized that “MODONs attainment of maturity level IV is an indication of their commitment to strategic planning, performance management and employee engagement in their pursuit of organizational excellence. This positions MODON among the leading entities in the Gulf region. This achievement aligns with the national goals outlined in Vision 2030 and underscores MODON as a beacon of leadership, accountability, and oriented towards a culture that fosters innovation.”

MODON’s accomplishment marks a significant stride in advancing best organizational practices in the field of strategy and performance management. In acknowledging this success, TKI reaffirms its commitment to propelling organizations forward through its diverse global expertise and unwavering pursuit of the highest standards.

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About The Saudi Authority for Industrial Cities and Technology Zones (www.modon.gov.sa)

The Saudi Authority for Industrial Cities and Technology Zones (MODON) was established by Royal Decree in 2001 to develop and manage distinguished industrial cities and technology zones in the kingdom. MODON aims to be the leading partner for both the public and private sectors in Saudi Arabia. The role of the organization is strongly linked to the national priorities and the KSA Vision 2030.

Email: [email protected]

Number: 966118749175

About The KPI Institute (www.kpiinstitute.org)

The KPI Institute (TKI) is a worldwide leader in performance management and KPIs training and certification. It operates research programs in 12 practice domains, disseminates industry insights through publications and knowledge platforms, and provides support in deploying those insights through training and advisory services.

Global Performance Audit Unit (GPA Unit) is the strategy and performance audit division of TKI. Its purpose is to provide integrated strategy and performance assessment solutions through rigorous research, education, and analysis.

Based on over 15 years of experience and a combination of academic and practitioner research in the field of strategy and performance, we have developed a unique set of frameworks for assessing the maturity level of organizational performance management systems.

The concept and services of the GPA Unit are available worldwide, as it is supported by a dedicated online platform and a global network of collaborators: www.gpaunit.org.

Contact: Adrian Brudan, General Manager EMEA, TKI

Email: [email protected] | Contact Number: +40 721 233 084

Key performance indicators (KPIs) are used to understand and improve performance across a diverse range of industries, departments, and teams. For companies that produce goods and commodities, KPIs are absolutely essential as they offer a detailed view of their performance—for both individual employees and the organization as a whole. Production capacity and adherence to production schedules are just a few examples of areas in such an industry where KPIs can be used.

The importance of KPIs is even more prominent nowadays, as production has slowed considerably across the globe, caused by various compounding issues such as semiconductor, iron ore, and chemical shortages just to name a few. Such problems must be dealt with, and a reliable way to determine if the implemented solutions are working is through the use of KPIs. 

On top of the production slowdown, many companies that produce goods and commodities are also dealing with the changes brought about by Industry 4.0 —chief of which is the issue of proper integration. New technology and old processes typically don’t mix, a maladjustment that is exacerbated by skills gaps. Fortunately, there are ways to close these gaps, namely through reskilling and upskilling. Reskilling and upskilling are both training-centric methodologies, requiring employees to learn new skills or update their existing skill sets to match the new technology they will be using. This is not enough, however, as the effectiveness of training must be measured, which is where the use of KPIs comes into play. 

Due to the importance of KPIs in production, The KPI Institute (TKI) has diligently collated the 10 most widely used production KPIs. This information comes from smartkpis.com, TKI’s comprehensive database comprising 21,334 KPIs, covering 16 functional areas and 25 industries. The top 10 production KPIs are as follows:

1. % Production schedule attainment – Measures the rate at which the production target for a given time period has been attained.
2. # Units per man-hour – Measures the number of completed units of a product realized per man-hour of work.
3. % Production schedule adherence – Measures the deviation between the actual production units and the planned production units for the same period.
4. % Production uptime – Measures the percentage of utilized operation time from the planned available production time.
5. # Production plants – Measures the number of manufacturing plants (e.g. assemble lines) available and functional for the production process.
6. % Recovery yield rate of returned products – Measures the percentage of product returns that were valued again from overall returned products.
7. % Production capacity utilization – Measures the percentage of the production volume actually realized from the total production capacity.
8. # Ideal run rate – Measures the theoretical ideal production rate expected to be achieved in optimal circumstances.
9. # Production capacity – Measures the volume of products that one plant or company can produce with its actual resources in a specific timeframe.
10. $ Penalties cost due to unsatisfied demand – Measures the penalty values generated by the inability to satisfy demand.

Keeping track of these metrics can prove pivotal to the survival and success of any production business. For a detailed breakdown of these KPIs, including how to calculate them and when to measure them, download the free poster on the TKI marketplace.

An increasingly used performance management tool in organizations worldwide is the balanced scorecard (BSC). This is according to the latest report released by The KPI Institute on strategy management. The BSC provides a comprehensive framework for monitoring and managing performance across various business dimensions, including financial, customer, internal processes, and learning and growth. However, despite its numerous advantages, effectively adopting the BSC presents some obstacles.

Ensuring that the BSC aligns with the organization’s strategic goals is one of the main challenges. Developing relevant performance metrics requires an in-depth understanding of the mission and vision of the organization. Without this alignment, the BSC is just a collection of metrics that do not drive the desired outcomes.

Another issue lies in collecting and managing the data required to support the scorecard. Organizations usually struggle to acquire reliable and timely data, which can affect their capacity to accurately monitor performance. Furthermore, data saturation can become an obstacle, as companies may be tempted to track too many indicators. This may result in information overload and inefficiency.

Communication and staff buy-in are also major challenges. Employees may resist the changes brought about by the BSC and consider it an additional layer of bureaucracy. To overcome this reluctance and make sure that they know what the scorecard is for, it is important to use effective communication and engagement techniques.

For professionals who want to learn how to overcome these challenges, discover real-life cases, and explore solutions, join the Certified Balanced Scorecard Management System Professional – Live Online course. The KPI Institute is holding the year’s last session from December 4 to 8. 

Make your last move of 2023 count and secure your spot by registering here.

Amidst a sea of strategic frameworks and performance modulations, aligning your organizational strategies with validated, global insights is akin to following a lighthouse that guides you toward informed, impactful decision-making. With that in mind, The KPI Institute (TKI) invites you to join our exclusive webinar meticulously crafted for leaders, strategists, and innovators like you. 

The webinar will be held on Nov. 14, 2023, at 7:00 PM (KSA) and is designed to give participants the tools they need to navigate through the crucial findings of TKI’s “State of Strategy Management Practice Report 2023.” The report is a comprehensive research study conducted by TKI, which echoes the current state, challenges, and tactics of organizations across the globe. This webinar will not merely present data, but it will also help you understand how to weave these insights into the very fabric of your strategic endeavors.

What can you expect?

• In-depth insights: Discover key findings from the research report that unveil current and future trends in strategic planning, measurement, and execution.
• Expert narratives: Engage with our seasoned strategy and performance management expert who offers actionable advice to overcome challenges and bolster organizational practices.
• Interactive dialogue: Participate in a rich, collaborative Q&A session, and glean insights from our expert on your topics of interest.

Who is this for?

• Executives and managers who are navigating through the complex webs of decision-making and organizational leadership
• Strategy planning professionals who seek to enhance the depth and impact of their strategy management tools and practices
• Corporate performance management managers who are looking to align organizational performance measurement with emerging global trends and insights
• Business consultants who aim to provide their clientele with informed, data-backed guidance that elevates the effectiveness of performance management systems

Participant gift bag

What’s in the bag? Participants will receive the following gifts:

• State of Strategy Management Practice Report 2023: Access the full report including practical recommendations.
• The Human Resources Performance Scorecard Template: Benefit from a pre-populated performance scorecard that can be populated with other functional area examples or corporate-level objectives and key performance indicators (KPIs).

About the speaker

The webinar will be presented by Cristina Mihăiloaie, a Strategy and Performance Management Expert and the Business Unit Manager of Research Programs at TKI.

Her professional experience embeds research skills with performance management consulting and practical strategy development and execution for TKI’s research division.

In the last 10 years, Cristina has contributed to the development of best practices and standards for using and leveraging KPIs that are taught in the premium certifications of TKI worldwide. She has assisted large organizations in industries like oil and gas, the financial sector, telecommunications, manufacturing, and utilities.

She conducts maturity assessments for strategy and performance management systems and has trained over 500 professionals, gaining first-hand experience on the most stringent issues that organizations are facing.

Join the webinar

Embark on a journey of strategic elevation, where your actions and decisions are not just informed but transformed by a reservoir of global insights and trends. Click the link below to secure your spot in a webinar that promises to reshape your strategic outlook and empower your forward trajectory.

Secure my spot.

The KPI Institute (TKI) has released the “STATE OF STRATEGY MANAGEMENT PRACTICE – 2023 GLOBAL REPORT”, which offers an analysis of the factors influencing strategy planning and provides recommendations on how companies can effectively address gaps in the process. 

TKI, a leading global research institute specializing in business performance, conducted the study with 346 respondents representing 69 countries from April to June 2023. This extensive report encompasses key subjects in strategy and performance management, organized into three sections: planning, measurement, and execution. The report also presents suggestions for optimizing strategic approaches and achieving organizational excellence.

One notable finding from the study indicates that gathering insights on value drivers for customers serves as the foremost enabler of strategic planning in organizations. According to the report, “[The result] underscores how respondents perceive the impact of understanding and meeting client needs on driving successful strategies and highlights the importance of customer centricity.”  

The strategy measurement section revealed that key performance indicators are employed equally in corporate performance evaluations and employee performance reviews. The results also show that the Balanced Scorecard and Objectives and Key Results are respondents’ most frequently utilized performance management frameworks.

In the execution section, it is emphasized that enhancing the frequency of performance reporting enables professionals to take proactive measures in response to emerging trends and issues. The majority of the respondents preferred monthly evaluations, followed by quarterly and annual reviews. 

For more insights, visit the TKI Marketplace and download the “STATE OF STRATEGY MANAGEMENT PRACTICE GLOBAL REPORT – 2023.”