Journal of Business and Economic Review

The performance measurement system (PMS) is one of the complex but most important systems in any organization. Adopting a PMS is not a simple technical procedure and takes lots of time, efforts and resources. But, could an organization really have a successful PMS without an understanding of its requirements and critical success factors (CSFs)? and what are the enables/barriers to the achievement of a successful PMS? Therefore, recognizing requirements and CSFs of PMSs are among of the major challenges confronting PMSs and contribute significantly to their success in this highly competitive environment. This paper identifies and analyzes the most important challenges and CSFs confronting a PMS and introduces a successful PMS model. This model lays down a path for a PMS works efficiently and being successful within organizations. Furthermore, performance measurement frameworks and, in particular, the balanced scorecard (as the most popular framework) are scrutinized in this paper