Purpose: In this study, we suggest the systematic and comprehensive model to develop PI(Performance Indicators) of the organization or the process. Methods: The model is developed theoretically by using SIPOC(Supplier, Input, Process, Output, Customer) approach which is a tool to analyze the process and is compared with existing models to develop PI or KPI(key performance indicators); financial indicators, BSC, IPOO(input, process, output, outcome), traditional QCD (quality, cost, delivery), and IOS(input, output system). Results: The model provides more systematic method to develop PI and more comprehensive set of PI pools for all kinds of hierarchical levels of process than any other models to develop PI or KPI. Conclusion: This model will provide useful tools for the managers and the organizations who wish to develop PI.