Every one of us has engaged in benchmarking activities. And for most of us, it has been on a largely informal level. You call or email a colleague and ask "What do you do for…?" or "Do you have experience with…?" or "How do you handle…?" A more formal approach to benchmarking organizes the information you want to collect and identifies strategic contacts; contacts from whom you determine will provide you with the most usable information. Whether formal or informal we are spending valuable time and want to make sure our time is invested wisely. In addition to discussing how to invest our time, this paper will include a few lessons learned made in benchmarking, another tool to save time and money.
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