Approach

The project will be carried out in two phases.

The following phases are:

1

Exploring performance management today, articulating and defining — “integrated performance management” and key development challenges and opportunities.

2

Developing professional education and supporting guidance/tools to help companies and individuals develop and integrate a multi-capital approach to their management of performance.

Related initiatives

This project complements existing efforts of the International Integrated Reporting Council (IIRC) on Integrated Thinking and the Prince’s Accounting for Sustainability Project (A4S) lead on strategic planning, budgeting and forecasting, embedding sustainability into capital investment appraisal and integrated management reporting. It also builds on the enabling environment the Natural Capital Coalition and the Social & Human Capital Coalition developed.

What it is and what it’s not …

The project will ...

Focus on internal performance management process and practices.
Build on existing initiatives related to management accounting — working with the profession.
Develop integrated performance management resources, education materials and solutions.
Explore how additional capitals, beyond financials can be integrated into mainstream functions and processes (e.g., planning, evaluation and appraisal, budgeting, forecasting, etc.).
Learn from leading businesses and professionals across finance, accounting, HR and sustainability.

The project will not ...

Prescribe how a business should be run or define what success looks like.
Create a prescriptive performance standard, an external disclosure framework, or any new methodologies or protocols on measuring or valuing natural, social and human capital.
Be exclusive to initial partners — there are opportunities to engage.
Solve all integration or accounting issues — we will seek to complement and work with others.