This paper builds on principles and techniques developed in measurement science, as cur-rently understood in physical sciences and engineering, to improve the theory and practiceof performance measurement. To do so, it firstly discusses three fundamental positionson measurement, characterized as metaphysical, anti-metaphysical and relativistic. Sub-sequently, it lays the foundations of a pragmatic epistemology of measurement in bothphysical and social sciences. Finally, these insights are integrated through the examina-tion of possible advances in both the theory and practice of performance measurement inorganizations.