Answer 1

A measure of a business process that demonstrates where value is being delivered to a stakeholder.

Answer 2

Measures of whether a process or activity is achieving its goals. At every level, processes have outputs and those outputs should be measures to assure that the process is functioning as it should. In an ideal organization, company goals and measures are associated with value chains and then subdivided so that, at every level, managers are measuring process outcomes that are related to the ultimate goals and measures of the organization. If vertical alignment is ignored, its possible that activities or processes will be measured in ways that don't contribute to the overall success of the larger process or the success of the company.