Benchmarking definition

Benchmarking shall have the meaning given in Section 11.10.1.

Benchmarking means measuring the energy performance of a

Benchmarking means comparing a banking organization’s CCR measures with those derived using alternative data, methods, or techniques. It can also be applied to particular model components, such as parameter estimation methods or pricing models. It is an important complement to backtesting and is a valuable diagnostic tool in identifying potential weaknesses. Differences between the model and the benchmark do not necessarily indicate that the model is in error because the benchmark itself is an alternative prediction. It is important that a banking organization use appropriate benchmarks, or the exercise will be compromised. As part of the benchmarking exercise, the banking organization should investigate the source of the differences and whether the extent of the differences is appropriate.

Examples of Benchmarking in a sentence

• The Authority may terminate this Framework Agreement by serving notice on the Supplier in writing with effect from the date specified in such notice if the Supplier refuses or fails to comply with its obligations as set out in Paragraph 2 (Benchmarking) of Schedule 7 (Value for Money) of this Framework Agreement.

• The Parties shall comply with the provisions of Framework Schedule 12 (Continuous Improvement and Benchmarking) in relation to the benchmarking of any or all of the Goods and/or Services.

• Termination In Relation to Benchmarking The Customer may terminate this Call Off Contract by issuing a Termination Notice to the Supplier if the Supplier refuses or fails to comply with its obligations as set out in paragraphs 1 and 2 of Framework Schedule 12 (Continuous Improvement and Benchmarking).

• The Supplier shall at all times during the Framework Period comply with its obligations to continually improve the Goods and/or Services and the manner in which it provides the Goods and/or Services as set out in Framework Schedule 12 (Continuous Improvement and Benchmarking).

• Benchmarking partners are selected based on their best-in-class performance in the targeted process.

More Definitions of Benchmarking

Benchmarking means measuring the energy performance of a single building or portfolio of buildings over time in comparison to other similar buildings or to modeled simulations of a reference building built to a specific standard such as an energy code.

Benchmarking means the assessment of

Benchmarking means measuring a Covered Building’s energy performance using the ENERGY STAR Portfolio Manager tool or other similar platforms as CASR may designate.

Benchmarking means the process of comparing business processes and performance measures to industry bests and/or best practices from other industries. Dimensions typically measured are quality, time and cost.

Benchmarking means measuring a Covered Building’s energy performance using the ENERGYSTAR Portfolio Manager tool or other similar platforms as CASR may designate.

Benchmarking. A process through which standards and thresholds are developed through comparisons with others, standards, and best practices. In terms of quality benchmarking, the goal of a performance improvement system is to develop an assessment process that incorporates four basic comparisons: with self, with others, with standards, and with best practices.

Benchmarking shall have the meaning specified in Section 8.1D (Benchmarking Process).