Implementing a performance management system (PMS) maturity assessment is not just about compliance. It also shines a light on an organization’s integrity. This was highlighted when Red Sea Global (RSG) sought the expertise of The KPI Institute’s (TKI) Global Performance Audit Unit (GPA Unit) to assess its PMS and was awarded an overall Level V maturity score. This is the highest score any organization can receive from the GPA Unit’s maturity assessment, indicating that RSG has an optimized PMS with measurement efforts supporting its strategy. How did RSG achieve this exceptional milestone?

The Challenge

RSG is a vertically integrated real estate developer with a diverse portfolio across tourism, residential, experiences, infrastructure, transport, healthcare, and services in Saudi Arabia. RSG started developing its PMS when the company was established in 2018. The company adheres to an integrated approach to performance governance under the supervision of its Enterprise Project Management Office (EPMO). This approach extends to corporate planning, performance management, and project management throughout the organization.

RSG solidified its commitment to excellence by seeking an assessment of its PMS in 2023. A PMS maturity assessment is a comprehensive examination of organizational capabilities to determine the effectiveness and maturity of a company’s strategy and PMS. RSG’s main goal was maximizing the added value of PMS implementation. This entailed determining what was working for them and where they could improve. Another motivation for them was to ensure that the progression of their internal processes matches up with the organization's overall growth trajectory. For RSG, the PMS maturity assessment helped provide that much-needed alignment, build a competitive edge, and synchronize its operational strategies with best practices.

The Solution

Turning RSG’s goals into reality was accomplished with the help of the GPA Unit, a division established by TKI to provide integrated performance maturity assessment solutions through rigorous research, education, and diagnosis. With over 10 years of experience and a combination of academic and commissioned research in performance management, the GPA Unit developed a unique set of frameworks for assessing the maturity level of a PMS.

In RSG’s case, the GPA Unit applied the Integrated Performance Maturity Framework to assess five capabilities: Performance Improvement, Employee Performance Management, Performance Measurement, Performance Culture, and Strategic Planning. The assessment involved over 300 statements representing best practices to assess the different capabilities and adopted three perspectives: evidence-based assessment (75% of the total maturity assessment score), perception-based assessment (25% of the total maturity assessment score), and interview-based assessment (used to interpret data and develop recommendations).

The Outcome

RSG came through the PMS maturity assessment with flying colors. Their determination to go beyond compliance was rooted in their integrity. They submitted more than 100 documents for assessment, including policies and procedures, process maps, performance reports, and communication materials. The maturity assessment report brought to light several accomplishments, such as adept utilization of key performance indicators; alignment of behaviors, processes, and initiatives of individuals and teams with the strategic goals; and emphasis on empowering employees with autonomy in an objective setting. Moreover, the assessment’s output came with an executive dashboard and a roadmap for how RSG can further strengthen and sustain its approach to performance management.

RSG’s remarkable narrative also shows that a PMS audit can serve as a strategic tool for optimization, a catalyst for embedding continuous improvement within a company’s culture, and a driving force for effective stakeholder engagement.