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What is the purpose of benchmarking? Often, benchmarking involves visiting other organizations that have applied the...

What is the purpose of benchmarking? Often, benchmarking involves visiting other organizations that have applied the system under consideration. Why?

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Benchmarking as a process is useful for creating the baseline values for an organization for creating their project baseline values. As well as allow them to measure their competency in order to deal with the necessary changes required to perform the processes better. The company needs the required values in order to formulate their strategies as well as project schedules and end goals.

Often benchmarking process require us measuring the other organization in order to determine the market competition and the standard values of the market. Therefore, we can say that there is a requirement to compare the competition.

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