An IT operation can be said to be made up of people, processes, and technology, and where relevant it's important to be able to develop metrics to measure and review performance, and then make appropriate changes.
For staff, there needs to be clarity around role requirements, and targets need to be set that are SMART. Reviews need to happen regularly, staff should be rewarded for meeting or exceeding targets, and they should receive appropriate training. The end result will be happier, motivated staff with a clear purpose.
Processes constantly need updating at regular intervals, and technology needs to be reviewed regularly to ensure that it is allowing IT services to meet customer expectations.
Add to this a culture of continuous improvement where there's a constant drive to make things better, and you've got a high performing IT investment that will maximise your companies ability to make money!