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International Journal of Business and Management Vol. Furthermore, the financial cost can be reduced by improving training and security procedures which can lead to fewer accidents, higher morale and increased productivity for the crew.
Finally, keeping LTIF value as low as possible, it will satisfy both oil majors and ship owners Polyviou, Since KPIs are the tools for improvement of performance, shipping companies should acknowledge one common set of KPIs, and implement them systematically and methodologically.
An indication of the time lost due to various types of injury sustained by crew members How? It is derived for a specific period of time based on the total number of injuries, the total number of Shipping kpi on board the company's vessels and the total number of hours in the selected time period.
Its value is constantly updated based on information such as crew members signing on and off vessels and reported injury incidents Set boundaries of acceptability Does the value of a KPI begin to slide precipitously close to the boundaries of acceptability?
Empower alerted user to investigate the root causes of the problem Decide on appropriate corrective action. It is Shipping kpi an international standard in the sense that it is adopted by an international standardization body. The proposed stand is aimed at becoming a de facto Industry Standard.
Individual ship data will be entered by ship managers or shipowners in a web based system, initially voluntary and the KPIs will be automatically measured.
Once this database works, each ship will be able to measure its KPIs and improvements in performance overtime. It will enable owners to compare ships with all others globally or all those in a certain category, including flag Garfield, Research Methodology The primary objective of this research is to investigate whether key performance indicators are applied by Greek tanker shipping companies and to what extent.
The paper also identifies how KPIs were used by tanker shipping companies and how these companies defined their overall performance measurement. Another objective of this research is the study of the benefits offered by the indicators to the above mentioned companies.
The basic characteristic of the tanker market is the dominant role played by a small number of big charterers, that is, the big oil companies. It is worth noting that the oil terminals are controlled by oil companies state and private and as a result the market is controlled by them.
Tankers, also, are obliged to comply with strict safety rules due to the hazardous potential of their cargo. Under these conditions, key performance indicators in the tanker shipping companies are of special importance to the extent they positively influence the efficiency and effectiveness of vessels.
Primary information was collected through a quantitative research.
From the techniques of filling in a questionnaire, their electronic sending was chosen, which means anonymity, allows absolute control on the formulation of questions, does not pressurize the participants in terms of time and minimizes partiality which might exist in the case of physical presence.
More specifically, a questionnaire was sent by email to the Greek tanker shipping companies. The determination of the appropriate size of the sample was based on the principles of the science of statistics. Structural design was adopted in the questionnaire making it easier to be answered and reach high return rate.
The study questionnaire was divided into two parts. The first part contained background of the companies and the second part included information regarding the implementation of key performance indicators in shipping companies. The questions provided up-to-date information on contemporary ship management practice allowing a deeper understanding of its context.The Shipping KPI Project Objectives In order to: • boost performance improvements internally • provide an efficient communication platform about ship operation performance information to internal and external stakeholders through increased transparency Develop tools to .
org Shipping KPI User Guide v Page 10 of Concepts You can read the Concepts and further study the breakdown of: SPIs – Shipping Performance Indicators KPIs – Key Performance Indicators PIs – Performance Indicators (Performance measurements) Note: scroll to the bottom of each page to view all the details 4.
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The Shipping KPI standard (Shipping KPI ) provides a standard key performance indicator system and benchmarking facilities for participating ship management companies as well as facilitates communication of own performance to other parties by providing industry benchmarks. The KPI Dictionary: 4, + Key Performance Indicator definitions: Volume 2: Industries [The KPI Institute, caninariojana.com, Aurel Brudan] on caninariojana.com *FREE* shipping on qualifying offers.
By assembling the first comprehensive dictionary of Key Performance Indicators (KPIs), The KPI Institute provides professionals a useful resource for novices and experts alike.