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Benchmarking and best practices

Benchmarking is the continuous process of measuring products, services, costs, and practices. The two types of benchmarking are competitive (a comparison against the industry best) and process (a comparison to the best in class). Best practices, through the benchmarking process, identify opportunities for improvement. The process of comparing a result to a best practice may be applied to resources, activities, and costs.

Benchmarking and best practices

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