Performance Management and Governance

Commerce Strategic Plan performance management and governance

The infographic below illustrates the standardized structure of the Department of Commerce FY 2022-2026 Strategic Plan and describes the purpose, logic, and terminology that comprise each strategic goal.
Terms and definitions
Strategic Goal – Includes a goal statement and goal overview. The highest-level statement of aim or purpose included in our strategic plan. Our plan’s five strategic goals articulate clear statements of what the Department wants to advance within its mission.
Strategic Objective – Includes an objective statement and an objective overview. Our plan’s 23 strategic objectives are the primary unit for strategic analysis and decision-making. Strategic objectives reflect the outcome or management impact the Department is trying to achieve.
Strategy – Represents key approaches, initiatives, and tactics that will be pursued to advance the related strategic objective.
Performance Indicator – A key performance measure used to track progress toward achieving a strategic objective. The Department will measure and monitor the trend for these indicators. 
Evidence –The information used to formulate goals, objectives, and strategies in this plan. Evidence can be quantitative or qualitative and may include, but is not limited to, performance measurement, research studies, evaluations, statistical data series, and data analytics.
Executive governance
The Department’s Executive Management Team oversees the governance of Commerce's five strategic goals and periodically assesses progress for each of its strategic objectives. The Performance Management Office and Performance Excellence Council serve as a critical connection between the Executive Management Team governance of our strategic plan and bureau staff who implement the plan’s diverse strategies, programs, and improvement efforts. Annually, we conduct a formal strategic review of each strategic objective’s progress. We also publicly report performance within our Annual Performance Report and Annual Performance PlanCommerce Performance Data Pro is an important tool to improve data-driven decision making.
Performance management and governance the Commerce Department's Strategic Plan complies with the statutory mandates in the Government Performance and Results Act - Modernization Act of 2010 and the policies set for by the U.S. Executive Office of the President, Office of Management and Budget (OMB) in Circular No. A-11: Preparation, Submission, and Execution of the Budget.
Click here for more information about the Government Performance and Results Act - Modernization Act of 2010
Click here for more information about the Office of Management and Budget Circular No. A-11