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A service-level arrangement (SLA), an important part in business consulting, is often used as a link between a company’s operations and customers. It outlines what each party will need to achieve its goals, and provides a way for both parties to report on these goals and any issues that may arise.
SLAs provide protection for both the service user and provider by setting standards, targets, and consequences when these expectations are not met. They also allow the creation key performance indicators which can help a company identify areas of its business that are not on course to meet their strategic objectives.
The SLA should include all services included in the contract, including details on turnaround time and any exclusions. The contract should also include a list of metrics to be used in measuring the service provider’s performance.
Metrics should only reflect factors under the control of a service provider and be easily collected. They should also be set up with a reasonable base, so they can be refined as time goes on.
KPIs are metrics that measure how well an organization is performing with respect to its primary goals. It can be used to determine if the business is off-course, which is a common problem for small businesses.