Performance Target definition: Copy, customize, and use instantly
Introduction
The term "Performance Target" refers to a specific objective or milestone set within a contract or agreement, typically related to achieving a particular level of performance or output. It is used to define the measurable criteria that need to be met for success, often tied to rewards or penalties. Performance targets help ensure accountability and motivate parties to meet agreed-upon goals.
Below are various examples of how "Performance Target" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Performance Target" for sales objectives
This definition ties "Performance Target" to sales-related goals.
"Performance Target" means the sales goal or revenue target that must be achieved within a specified period as outlined in the agreement, often used to determine bonuses or commissions.
Definition of "Performance Target" for employee performance
This definition connects "Performance Target" to employee performance assessments.
"Performance Target" refers to the specific goals set for an employee or team that must be met to ensure continued employment, promotion, or eligibility for performance-based compensation.
Definition of "Performance Target" for financial benchmarks
This definition ties "Performance Target" to financial goals or metrics.
"Performance Target" means a financial metric or benchmark, such as profit margin or return on investment, that must be achieved to fulfill contractual obligations or trigger payment.
Definition of "Performance Target" in project management
This definition links "Performance Target" to the achievement of milestones within project management.
"Performance Target" refers to the predefined milestones or deliverables that must be achieved within a project to ensure timely completion and the satisfaction of project requirements.
Definition of "Performance Target" for operational efficiency
This definition connects "Performance Target" to efficiency measures in operations.
"Performance Target" means a predefined operational standard or efficiency measure, such as production volume or turnaround time, that must be met to satisfy performance requirements.
Definition of "Performance Target" for quality standards
This definition ties "Performance Target" to product or service quality standards.
"Performance Target" refers to a specific level of quality or defect rate that must be met, typically used in manufacturing or service delivery to ensure compliance with agreed-upon standards.
Definition of "Performance Target" for supplier contracts
This definition links "Performance Target" to supplier-related agreements.
"Performance Target" means the performance criteria set out in a supplier contract, including delivery timelines, quality standards, and cost limits, that must be met for continued partnership.
Definition of "Performance Target" for customer service
This definition connects "Performance Target" to customer service performance.
"Performance Target" refers to the customer service standards, such as response time or satisfaction ratings, that must be met to achieve contractual obligations or receive incentives.
Definition of "Performance Target" in the context of bonuses
This definition ties "Performance Target" to bonus eligibility.
"Performance Target" means the specific performance-related goals that must be achieved in order for the party to qualify for a performance-based bonus or incentive.
Definition of "Performance Target" for financial performance
This definition links "Performance Target" to financial outcomes.
"Performance Target" refers to a goal related to financial performance, such as revenue growth or expense reduction, that must be reached in order to satisfy the terms of an agreement.
Definition of "Performance Target" in marketing campaigns
This definition connects "Performance Target" to marketing campaign objectives.
"Performance Target" means the goals set for a marketing campaign, such as sales volume, lead generation, or engagement metrics, that must be achieved within a set timeframe.
Definition of "Performance Target" for research and development
This definition ties "Performance Target" to R&D goals.
"Performance Target" refers to the specific outcomes or advancements in research and development that must be achieved to meet contractual obligations or funding milestones.
Definition of "Performance Target" for sustainability efforts
This definition links "Performance Target" to sustainability goals.
"Performance Target" means the sustainability-related goals, such as energy usage reduction or waste minimization, that must be achieved to fulfill contractual environmental responsibilities.
Definition of "Performance Target" in the context of a contract
This definition ties "Performance Target" to contract performance criteria.
"Performance Target" refers to the measurable goals or deliverables defined in a contract that must be achieved within the agreed-upon timeframe to ensure compliance.
Definition of "Performance Target" for service delivery agreements
This definition connects "Performance Target" to service-level agreements (SLAs).
"Performance Target" means the agreed-upon service levels, such as uptime or response time, that must be met by the service provider as part of the service delivery agreement.
Definition of "Performance Target" for contractor performance
This definition ties "Performance Target" to contractor expectations.
"Performance Target" refers to the performance goals set for contractors, such as project completion dates, quality levels, or cost adherence, that must be achieved to meet contractual requirements.
Definition of "Performance Target" for product development
This definition links "Performance Target" to product development goals.
"Performance Target" means the milestones or objectives within a product development cycle, such as prototype testing or market readiness, that must be completed to ensure timely product release.
Definition of "Performance Target" for service contract penalties
This definition ties "Performance Target" to service contract penalties.
"Performance Target" refers to the performance standards set within a service contract, which, if not met, may result in penalties, such as reduced payments or termination of the agreement.
Definition of "Performance Target" for business expansion
This definition connects "Performance Target" to expansion-related goals.
"Performance Target" means the specific expansion goals, such as opening new locations or increasing market share, that must be met to fulfill business growth objectives.
Definition of "Performance Target" in workforce productivity
This definition links "Performance Target" to workforce performance.
"Performance Target" refers to the productivity goals set for employees or teams, such as output per hour or units produced, that must be met to ensure business objectives are achieved.
Definition of "Performance Target" for government contracts
This definition ties "Performance Target" to performance standards in government contracts.
"Performance Target" refers to the performance criteria specified in a government contract, including completion dates and regulatory compliance standards, that must be achieved to avoid penalties.
Definition of "Performance Target" for competitive bidding
This definition connects "Performance Target" to competitive bidding processes.
"Performance Target" means the goals or outcomes defined during a competitive bidding process, which bidders must meet to be awarded the contract.
Definition of "Performance Target" for market share growth
This definition links "Performance Target" to market expansion goals.
"Performance Target" refers to the goal set for increasing market share, such as capturing a specific percentage of the market, that must be achieved within the term of the agreement.
Definition of "Performance Target" for contractor incentives
This definition ties "Performance Target" to incentives for contractors.
"Performance Target" means the objectives set for contractors, such as completing work ahead of schedule or under budget, that must be met to earn incentive payments.
Definition of "Performance Target" in performance-based contracts
This definition connects "Performance Target" to contracts based on performance.
"Performance Target" refers to the specific performance goals outlined in performance-based contracts, which are used to determine payment or continuation of the agreement.
Definition of "Performance Target" for investment returns
This definition links "Performance Target" to investment-related goals.
"Performance Target" means the return on investment target that must be met by a portfolio manager or fund manager to achieve agreed-upon financial results.
Definition of "Performance Target" for fundraising campaigns
This definition ties "Performance Target" to fundraising goals.
"Performance Target" refers to the specific fundraising target set for an event or campaign, such as the amount of money to be raised, that must be met to achieve the campaign's objectives.
Definition of "Performance Target" in the context of public-private partnerships
This definition connects "Performance Target" to PPP goals.
"Performance Target" means the specific goals or milestones that must be achieved in a public-private partnership to ensure mutual benefit and contractual compliance.
Definition of "Performance Target" for employee incentives
This definition links "Performance Target" to employee rewards programs.
"Performance Target" refers to the performance criteria used to determine eligibility for employee bonuses or other incentives based on meeting predefined objectives.
Definition of "Performance Target" for logistics performance
This definition connects "Performance Target" to logistics-related objectives.
"Performance Target" means the specific goals set for logistics operations, such as on-time delivery rates or shipping accuracy, that must be met to fulfill contractual obligations.
Definition of "Performance Target" for training programs
This definition ties "Performance Target" to training program objectives.
"Performance Target" refers to the performance criteria for training programs, such as completion rates or skill acquisition levels, that must be achieved to ensure training effectiveness.
Definition of "Performance Target" for compliance with regulations
This definition links "Performance Target" to regulatory compliance.
"Performance Target" means the compliance standards set by regulatory authorities, which must be met by the party to fulfill legal and contractual requirements.
Definition of "Performance Target" for product launch
This definition connects "Performance Target" to product launch milestones.
"Performance Target" refers to the key objectives for a successful product launch, such as sales targets, distribution reach, or market penetration, that must be achieved within a set timeframe.
Definition of "Performance Target" for vendor performance
This definition ties "Performance Target" to vendor-related expectations.
"Performance Target" means the specific performance criteria established for vendors, including delivery timelines and product quality, that must be met to maintain contractual relationships.
Definition of "Performance Target" for budget management
This definition connects "Performance Target" to budget goals.
"Performance Target" refers to the financial objectives set within a budget, such as cost savings or spending limits, that must be met to achieve fiscal discipline and avoid budget overruns.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.