今天看書，說在投資的時候，有兩個關(guān)鍵的任務(wù)需要完成，一個是 performance measurement 另一個是 performance appraisal，后者，又叫做 evaluation，其實，appraisal ?我是不認識的，但是 evaluation 我是認識的。

然后我發(fā)現(xiàn)，認識和能把握住一個詞的內(nèi)涵，真的是兩碼事。

其實，我對 evaluation 的理解，這兩年受編程的影響很大，已經(jīng)拿捏不準了，到底什么意思。于是我查了 Google，得到這么一個答案，還蠻受用。

Difference between Measurement and Evaluation

The main difference between evaluation and measurement may be explained with the help of following examples.

A teacher measures Mr. Aslam's height to be 180cm He evaluates-his height when he says that he is long.

A teacher measures Mr. Ali's achievement in Economics to be 50% he evaluates his achievement when he says that Ali's achievement in 'Economics is satisfactory

A teacher measures the size of a classroom and finds that it is 4mx3m. He evaluates the classroom dimensions when he reports that the classroom is too small for 40 students.

Aslam and Ali study in the same class, hi the first test they obtain in 50 and 70 marks respectively in English in the second test. Both of them obtain 80 marks. Now in the second measurement (test scores) achievement in English is the same yet the evaluation will differ when the teacher states that the rate of progress of Aslam is comparatively better than that of all.

Measurement helps in evaluation. This may be clarified, by taking one example. Aslam and Ali study in the same class. They take two tests. In the first test, they obtain 45 and 65 marks respectively in civics in the second test, both of them obtain 80 marks. Now in the second test the measurement (best scores) of their achievement in Civics is the same, yet the evaluation well differ, when teacher says that the rate of progress of Aslam is comparatively better than that of Ali.

簡單來講，measurement 就是評估的意思，按照例子的理解，就是對某種屬性進行客觀地觀測，來得到一個相對客觀的數(shù)值。

而 evaluation 則是根據(jù)得到的數(shù)值，進行一個主觀的判斷，暗含了價值的判斷在里面。

應(yīng)用在投資里面的話，我們首先要評估一個組合的 performance ，然后再在這個基礎(chǔ)上，去 evaluation 它，如果再通俗點講，就是 measurement 是“價格多少”的問題，而 evaluation 是 “值不值” 的問題。