How many steps are in the Benchmarking process?

• A. 8
• B. 10
• C. 12
• D. 14

Answer: (B)

Benchmarking is a structured, repeatable process for comparing your operations against best practices to identify performance gaps and drive improvements. In this framework, there are ten steps: define scope and objectives, plan the benchmarking effort, select benchmarking partners, collect data, compare performance, identify gaps, prioritize improvements, develop action plans, implement changes, and monitor and sustain results. This ten-step flow covers from setting the purpose to ensuring gains are sustained, making it the best fit for this item. Fewer steps would leave out essential stages, and more would add steps not typically part of the standard process.