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Date: 2024-11-22 Page is: DBtxt001.php L0700-MM-Monetisation-01
METRICS for MANAGEMENT
MONETISATION
WHY IT IS A BAD IDEA
The use of money as a measure is a problem for many reasons.
  1. (1) money changes in value depend on markets and supply and demand. This may or may not be a useful relationship.
  2. (2) a different framing of money is used in different places ... there are multiple currencies and a complex foreign exchange market that further aggravates the problem of changing size of a money unit.
To Monetize or Not to Monetize
Units of measure should be constant under all circumstances
TVM advocates for metrics that are based on constancy over time along the lines of the International System of Units (SI). The multiple definitiions of the units over time reflect more accuracy in the definition, that is more constancy rather than changes in the size of the units.

Distance is measured in units of distance like meters (metres) which do not change over time. The exact definition has been changed over time to make it more stable and more precise:
  • in 1793 it was defined as one ten-millionth of the distance from the equator to the North Pole;
  • in 1799 it was redefined in terms of a prototype metre bar (the actual bar used was changed in 1889);
  • in 1960, the metre was redefined in terms of a certain number of wavelengths of a certain emission line of krypton-86;
  • in 1983, the current definition was adopted where the meter is defined to be the distance light travels in 1 / 299,792,458 seconds.
Mass is measured using the kilogram which is one of the seven SI base units and one of three which is defined ad hoc (i.e. without reference to another base unit). The kilogram is 1000 grams (g), first defined in 1795 as one cubic decimeter of water at the melting point of ice. However, because precise measurement of a decimeter of water at the proper temperature and pressure was difficult, in 1889 the kilogram was redefined as the mass of the international prototype kilogram of cast iron, and thus became independent of the meter and the properties of water.

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