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Goodhart's law is an adage often stated as, "When a measure becomes a target, it ceases to be a good measure". [1] It is named after British economist Charles Goodhart, who is credited with expressing the core idea of the adage in a 1975 article on monetary policy in the United Kingdom: [2]
Management by objectives (MBO), also known as management by planning (MBP), was first popularized by Peter Drucker in his 1954 book The Practice of Management. [1] Management by objectives is the process of defining specific objectives within an organization that management can convey to organization members, then deciding how to achieve each objective in sequence.
What's done cannot be undone. – To bed, to bed, to bed!" [3] Shakespeare did not coin the phrase; it may actually be a derivative of the early 14th-century French proverb: Mez quant ja est la chose fecte, ne peut pas bien estre desfecte, which is translated into English as "But when a thing is already done, it cannot be undone".
In the Zork series of games, the Great Underground Empire has its own system of measurements, the most frequently referenced of which is the bloit. Defined as the distance the king's favorite pet can run in one hour (spoofing a popular legend about the history of the foot), the length of the bloit varies dramatically, but the one canonical conversion to real-world units puts it at ...
“The loss of young first love is so painful that it borders on the ludicrous.” “If you have only one smile in you, give it to the people you love.”
Academic articles that provide critical reviews of performance measurement in specific domains are also common—e.g. Ittner's observations on non-financial reporting by commercial organisations,; [10] Boris et al.'s observations about use of performance measurement in non-profit organisations, [11] or Bühler et al.'s (2016) analysis of how external turbulence could be reflected in ...
The correct quote is 'If you build it, he will come.' 'Wall Street' Though Gordon Gekko definitely thinks greed is good, his quote is actually 'Greed, for lack of a better word, is good.'
The value of work done (VOWD) is a project management technique for measuring and estimating the project cost at a point in time. It is mainly used in project environments of the Petroleum industry and is defined as the value of goods and services progressed, regardless of whether or not they have been paid for or received.