A review of the academic and best practice literature indicates that while there is no shortage of publications on performance measurement systems/performance measurement and management system (PMS&PMMS) in the business and organizational perspectives, but there is a dearth of research on how to measure activities/things more precisely and how they contribute to performance using an appropriate measurement theory. Key findings of the weaknesses of PMS&PMMS are: poor definitions of terms, too many terms are used, terms are used interchangeably or tautologically, and, no clear differentiation of measurement and performance measurement (M&PM). These show that the current ways in measuring activities/things and their performance are not reliable and meaningful. To overcome these weaknesses, using mathematical formulation of the hard and soft (social) sciences, a theoretical foundation of the measuring attributes (measures, metrics, indicators) of M&PM is ensconced and empirically tested using a numerical analysis. The key of this theory is accuracy (reliability) and meaningfulness of M&PM.
Measurement and performance measurement (M&PM) of activities and things are important for any disciplinebe it in the accounting, economic, governmental, management, social science, engineering or medical field. In the accounting, economic governmental, and management fieldcollectively known as businesses and organizations (although in some instances also include non-profit purpose firms, e.g., charities and health-care institutions) M&PM are becoming to use the alternative performance measurement systems (PMS), The growing number of PMS, the contemporary performance measurement and management system (PMMS) 1 , and its componentsthe measuring attributes of an organization, is encouraging in terms of practical significance and academic research. A measure, metric and an indicator in the PMS context are collective, termed by  as measuring attributes as they possess specific attributes of measurement. These attributes are vital to a measuring system as they are the ones that measure activities/things and provide valuable information on their performance within an organization, and without them, nothing can be measured and managed. PMS were introduced onto the workplace in the late 1960/early 1970 to replace accounting measures, and the accounting way of measuring performance because many practitioners expressed a general dissatisfaction with the traditional backward-looking accounting-based measurement system (AMS) (see , , , , , , , , , , , , , and ). The PMS is still largely based on the AMS control concept and is not a formal system but is a collection of many forms of measures, metrics, indicators, methods and systems of measurement and performance measurement. Academic research onto PMS follows, some twenty years later, i.e.