SMART = Specific, Measurable, Attainable, Relevant, and Time-Bound
The key ingredients for ‘good’ definitions of Key Performance Indicators (KPI) and its goals. I would add Relative to these ingredients to ensure that your KPI definitions (and goals) still apply when your business or volume grows. For example, you could take the number of open service calls (per period) as a KPI, but when the volume of service calls grows it is only natural that the number of open service calls grows. Therefore, the relative value against the number of reported service calls (e.g. % of open service calls) allows comparision of KPI values through time, even if the volume changes.
Therfore, SMARTeR.
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