Key performance indicators (KPIs) enable managers to continuously learn and improve; provide managers with a radar screen to take fast, corrective action; and enable process managers to measure progress toward strategic goals. KPIs are high on the list of most organization improvement agendas. But few organizations have understood how they should be chosen and used. What exactly is a KPI? How many should we have? How do we get value from them? This paper discusses these and other issues and provides some recommendations that managers can follow to get more value from these important measures.