Abstract:

 First, a brief review of the effort of performance management frameworks adoption is carried out. The performance measurement must be viewed as one element of a general management system that comprises many essential components that together form a performance management framework. Therefore during last two decades growing attention has been also paid to the study of performance measurement frameworks. The Article deals with the Overview of these Performance Management Frameworks. The most widely adopted PM frameworks are the Balanced Scorecard and the EFQM Business Excellence Model. In contrast to these frameworks, this Article contains also other, such as: The Performance Measurement Matrix, SMART Performance Pyramid, Performance Prism, Kanji Business Excellence Performance System, Theory of constraints, among others. The characteristics of these Performance Management Frameworks are given below. Second, was performed Comparison of Performance Management Frameworks and based on the extensive literature review the strengths and weaknesses of currently used performance management frameworks are identified and discussed. The most significant strengths and weaknesses of frameworks are summarized in the synoptic table. The results of analysis could provide the inspiration for organizations in creating their own performance management systems.