Lifetime performance variability is a powerful tool for evaluating herd management. Although efficiency is a key aspect of performance, it has not been integrated into existing studies on the variability of lifetime performance. The goal of the present article is to analyse the effects of various herd management options on the variability of lifetime performance by integrating criteria relative to feed efficiency. A herd model developed for dairy goat systems was used in three virtual experiments to test the effects of the diet energy level, the segmentation of the feeding plan and the mean production potential of the herd on the variability of lifetime performance. Principal component analysis showed that the variability of lifetime performance was structured around the first axis related to longevity and production and the second related to the variables used in feed efficiency calculation. The intra-management variability was expressed on the first axis (longevity and production), whereas the inter-management variability was expressed on the second axis (feed efficiency) and was mainly influenced by the combination of the diet energy level and the mean production potential. Similar feed efficiencies were attained with different management options. Still, such combinations relied on different biological bases and, at the level of the individual, contrasting results were observed in the relationship between the obtained pattern of performance (in response to diet energy) and the reference pattern of performance (defined by the production potential). Indeed, our results showed that over-feeding interacted with the feeding plan segmentation: a high level of feeding plan segmentation generated a low proportion of individuals at equilibrium with their production potential, whereas a single ration generated a larger proportion. At the herd level, the diet energy level and the herd production potential had marked effects on production and efficiency due to dilution of fixed production costs (i.e. maintenance requirements). Management options led to similar production and feed efficiencies at the herd level while giving large contrasts in the proportions of individuals at equilibrium with their production potential. These results suggested that analysing individual variability on the basis of criteria related to production processes could improve the assessment of herd management. The herd model opens promising perspectives in studying whether individual variability represents an advantage for herd performance.