Benchmark (operations)

Operations benchmarks are measures of typical industry performance on specific operational dimensions. These are used to compare an individual refinery's operational performance against the rest of the industry to identify areas of strength and weakness.

Benchmarks are used on a wide variety of operational measures, including:

Benchmarks are typically either average values for the whole industry or for quartiles reflecting best to worst performance groups.

Benchmarks are typically normalized for the size and complexity of the refinery to provide more meaningful comparison.

In refining, the industry standard set of benchmarks is compiled by Solomon Associates and is used widely across the industry, around the world.

McKinsey uses cookies to improve site functionality, provide you with a better browsing experience, and to enable our partners to advertise to you. Detailed information on the use of cookies on this Site, and how you can decline them, is provided in our cookie policy. By using this Site or clicking on "OK", you consent to the use of cookies.