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last update : 13/01/2016

CERTIFIED BALANCED SCORECARD & KPI MASTER

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COURSE OBJECTIVE

Continuously improving business performance is the single most important objective of every Senior Executives.  The Balanced Scorecard is the most widely used approach to underpin Strategy Execution and Corporate Performance Management Frameworks.This interactive 2-Day workshop is aimed at: managers from organisations considering use of Balanced Scorecards and KPIs to achieve company goals and; team leaders and managers required to implement the approach to meet corporate or customer requirements.Practical and insightful the course, delivered by one of the world’s leading experts on business performance, gets right down to the nuts and bolts of making Scorecards deliver their full potential.  Using a hands-on approach you will learn to apply best-practice.

 

About

IntroductionBalanced Scorecards are core to strategic planning.  They are used by over 40% of organisations in commerce and industry and government to align activities to vision and strategy by monitoring performance against quantified objectives.The approach combines forward looking performance measures and historical financial metrics to give managers a 'balanced' view of organisational performance.Today, global leaders underpin decision making with “dashboards" of performance measures.  For them, the Balanced Scorecard has evolved into a fully integrated strategic planning and management system.  This process drives business planning, budget and execution.   It provides a decision making framework using a model complete with performance measurements known as Key Performance Indicators (KPIs).However, a study of organisations using Balanced Scorecards in India found that difficulties in assigning ‘weightings’ to the different perspectives and ‘establishing cause and effect relationships’ were barriers to successful implementation.Why Implement a Balanced Scorecard?Align strategy, execution and resultsImprove performance by measuring what mattersFocus on the drivers of future performanceCommunicate the organisation’s Vision and StrategyPrioritize Projects / InitiativesIntegrate Risk, Governance and Compliance Key Performance IndicatorsKey Performance Indicators (KPIs) are measures that provide managers with the most important performance information to enable them or their stakeholders to understand performance levels throughout the organisation.  In a Balanced Scorecard, KPIs provide the links between strategic objectives their execution. Workshop Takeaways

  • Latest developments in Balanced Scorecard and Performance Framework
  • The know-how for successful deployment leading to corporate performance improvement
  • Implementation templates, milestones and timescales
  • Cost and benefits analysis for implementing Balanced Scorecards
  • Opportunity to bring own client organisation issues that will be addressed during the workshop
  • Performance Management Fellowship core skill within “Mastery of Performance Management” qualification
  • An evaluation based certificate endorsed by Performance Management Fellowship

 

Agenda

Day 1Session 1               0900 - 10:30Presentation:         Balanced Scorecards as a Corporate Management Tool;                            Maximizing business benefits from CPMSession 2              10:45 - 12:30Presentation:        Create and document Vision StatementsExercise 1:            Introduction to interactive team working;                           Create and document a Vision Statement Session 3              13:30 -15:00 Presentation:        Strategic priorities – stakeholders and partners;                           Identify and Performance Drivers; Risk ManagementExercise 2:            Supply Chain Value Analysis    Session 4              15:15 - 1700Presentation:        Implementing Performance Management Frameworks and BSC;                           Creating a performance driven culture across the  organisation;Exercise 3:            Define Goals and Objectives  Conclusion            Questions and link to specifics from participant organisationsDay 2:  Session 1             0900 - 10:30Presentation:       Key Performance Drivers;                          Key Performance QuestionsExercise 4:          Develop Key Performance IndicatorsSession 2            10:45 - 12:30Presentation:       Performance Reporting to inform decision making;                          Evidence based management and analytics in KPIsExercise 5:          Create and document a Strategy Map Session 3             13:30 -15:00 Presentation:       Aligning and cascading performance management framework;                          Using scenarios in prioritizing and setting strategy and contingencyExercise 6:           Develop a Strategic Impact Grid    Session 4            15:15 - 1700Presentation:      Integrating BSC, Budgets, Programmes, Risk Management;Evaluation:         KPI Master   Conclusion         Results and Feedback

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What is a Balanced Scorecard?

“Balanced Scorecard” is a proven approach to the managing strategic planning and execution.  It has delivered Return on Investment for all sized organisations.Widely used in commerce, industry and government, it is a way of aligning business activities to the vision and strategy of the organisation.  It is a generic term that covering summary “Dashboards” and extends to comprehensive planning and performance management systems.  These integrate budget, project and risk management – and cascading to cover the whole organisation.   In each case they are designed to focus efforts on achieving strategy by actively managing performance and results.The Balanced Scorecard has evolved from its early use as a simple performance measurement framework for non-financial performance measures.  However, there is significant added-value in adopting the approach and its use if forecast to double to 70% of organisations by 2020.Some organisations have been able to leverage Balanced Scorecards to transform their strategic plan into the "marching orders" that energises the organisation on a daily basis.  Meanwhile, others have struggled to map their strategy and the cause and effect between activities that drive outcomes and translate this into a performance management framework.We know that we have a truly “balanced”  set of performance measurements (KPIs) when we can identify the organisations potential, plan and budget for what should be done and the measures support execution of strategies.What are the benefits of the Balanced Scorecard approach?Improved organisation alignment to meeting objectivesImproved communications, both internally and externallyLinked strategy and operationsFocus on achieving strategy and results Integrated strategic planning, budget, risk and corporate performance managementWhat challenges will I encounter trying to develop and deploy a Balanced Scorecard system?Engaged leadershipMaintaining momentumMeasuring what mattersCorrect identification of true performance driversNot using a disciplined framework to build the systemWeighting the cause and effect through the KPIsThinking a scorecard system is a short-term project (it’s not….it’s a journey)Not involving a cross-section of the organisation in developing the systemNot thinking strategically enoughNot changing incentives to new behaviour requirementsIsn't the Balanced Scorecard just the latest management fad that will soon pass away?The "buzz words" may change, but not the underlying principles.  They are timeless:  thinking strategically, measuring performance, evaluating results, and feeding back into future planning.Over 45% of organisations Worldwide have attempted to implement Balanced Scorecards.  This is set to increase to over 70% in the next few years. Thus, managers who understand and can apply the Balanced Scorecard approach will be in a better position to lead in the future.  They will have the skills to think, plan and contribute to the success of their organisations.  These skills will be valuable for the foreseeable future.I am a program manager.  What's in it for me?The Balanced Scorecard is a strategic system for planning and execution management approach - including the entire program portfolio within an organisation.  However, as a manager of one or more programs, the Balanced Scorecard can help you.  It will raise the visibility of program performance -not only in traditional “on-time, on-budget” terms, but in terms of its contribution to the strategic outcomes of the whole organisation. You can use the Balanced Scorecard's approach and toolset, such as strategy mapping, to guide the direction of your program to maximize the impact of its outcomes.  Your specific definition of achievement will be used to measure your program's performance.  Increasingly, we use the scorecard metrics to measure and manage individual program performance.Is the Balanced Scorecard relevant to private-sector companies?Yes.  Many major corporations have adopted, or are in the process of implementing, the Balanced Scorecard as their framework for executing strategy and monitoring performance.  It has been demonstrated as an effective way to achieve that most elusive of management goals: execution.The theory of Balanced Scorecards is part of their management curriculum in Business Schools and business departments of colleges and universities. Is the Balanced Scorecard relevant to government agencies?Yes.  Taxpayers, the ultimate customers of government, are demanding more accountability for the use of their funds.They want to see tangible results from all government agencies, at all levels.  In the U.S., this demand is reflected in the Government Performance and Results Act, one of the most influential laws affecting how the Federal Government works. More recently, the President's Management Agenda, promulgated by the Office of Management and Budget, includes language requiring performance-based scoring and budgeting of all activities of agencies in accordance with top-level strategies. The Balanced scorecard is the only framework readily available that can align strategy, performance and budgeting to meet these requirements. Therefore, government agencies are increasingly looking to the Balanced Scorecard approach.Is the Balanced Scorecard relevant to not-for-profit organisations?Yes.  Non-for-profit organisations are committed to a mission.  They need to focus limited resources efficiently in order to achieve mission effectiveness and value for their members and sponsors.  The Balanced Scorecard system allows focus on multiple perspectives, including financial performance.  However, profit is not the determining goal of strategy whilst good stewardship is vital – and this perspective will be a key aspect of performance.  Balanced Scorecards provide a comprehensive framework that will help Directors and Managers better define strategies, track performance, and provide data to show their various stakeholder groups how well they are performing in terms of mission value and outcomes.How many organisations are using the Balanced Scorecard?By 2004, the Balanced Scorecard has been at least partially implemented in about 57% of corporations globally, according to a survey by Bain.  This is forecast to increase by Merrill Research to over 75%. How long does a Balanced Scorecard system take to develop and implement?Typically, building and implementing the enterprise-level (Tier 1) Balanced Scorecard - using a tool such as “Performance Driven Management” - takes around three months. Developing aligned scorecards for business and support units (Tier 2), and teams and individuals (Tier 3) takes an additional three to six months. These timescales are for a complete strategic planning and management system and includes: change management, leadership development, and communications strategy and planning activities that make the scorecard system sustainable. The development process needs to be undertaken by a cross-functional team guided by an experienced Balanced Scorecard facilitator.How much does it cost to implement?Expert help is required to build and implement a scorecard solution.  Each organisation is unique, so it is not possible to provide an estimate without knowing more about each organisation.How does the Balanced Scorecard compare to the Six Sigma management approach?While the Balanced Scorecard is almost always described as a strategic management system, Six Sigma is usually defined in terms of quality improvement related to internal business processes. Six Sigma is defined in Quality America as: "… a Quality Improvement methodology structured to reduce product or service failure rates to a negligible level (six sigma is equivalent to approximately 3.4 failures per million events). To achieve these levels of quality, Six Sigma encompasses all aspects of a business, including management, service delivery, design, production and customer satisfaction." Six Sigma was developed at Motorola, GE and Allied Signal, and is widely used in many businesses. While the original concept has expanded over the years to become more strategic, most Balanced Scorecard organisations will use Six Sigma as project initiatives to improve the efficiency of internal business processes.  Both Six Sigma and Balanced Scorecard practitioners use similar best practices in management to design and deploy these systems. Both require dedicated top-level management support, a dedicated team of change agents, strategic alignment, implementation of improvement initiatives as projects, cultural change management, and a combination of top-down and bottom-up development.Six Sigma practitioners often adopt the Balanced Scorecard as a way of deriving appropriate performance metrics.How does the Balanced Scorecard compare to the Baldrige? EFQM? APIC?The Baldrige Award, the European EFQM, and APIC (Army Performance Improvement Criteria) are examples of organisational assessment tools. Usually, these assessment frameworks are used as “snapshots” of the current organisational situation.  The assessment uses a point scale to compare the actual situation against a 1000 points (perfect score) scale.  Annual awards are given to a few organisations each year that demonstrate exemplary performance against the 1000 point scale. The Balanced Scorecard uses assessment data to determine what improvements and breakthroughs in performance are most needed, so that strategies can be crafted to meet these needs. The Balanced scorecard includes much more than assessment, and is a dynamic strategic planning and management system.Can you give me a list of metrics or KPI's (key performance indicators) for my Balanced Scorecard?Yes and No. The Balanced Scorecard is not a cookbook of performance measures.  It requires creative strategic thinking and decisions by various people throughout an organisation to develop an effective Balanced Scorecard system.  No two organisations are alike. "Some assembly is required."However, over many years and implementations, we have a set of measures and metrics that have been used and can often guide development and tuning of a of an appropriate set, for instance that aligns to an Institutionalised approach.  One example is the set that support s COBIT in a captive or open market ICT or Facilitates Management organisation.What are the implications of Balanced Scorecard on budgetary systems?The Balanced Scorecard, being a strategic management system, can serve as the driver of a performance-based budget.   Its performance measures and strategic plans can provide rational guidance for budget formulation and resource allocation.  In fact, some organisations have gone so far as to develop flexible strategic organisations and financial management systems that allow continuous reallocation of funds, without the need for major cyclical efforts in budgeting.Where can we get software to support the Balanced Scorecard?The Balanced Scorecard is not a piece of software.The Balanced scorecard is front-loaded with leadership, education, communication, and cultural preparation.  However, once these are in place, there comes a time to consider the purchase of software to support the collection, reporting and analysis of Balanced Scorecard data.There are many vendors of Balanced Scorecard software products are advancing all the time. Commercial Balanced scorecard software ranges from simple spreadsheet and database systems, to more complete performance information, business intelligence, and data warehouse offerings.An experienced Balanced Scorecard facilitator will bring experience of several software solutions and be able to assist in the selection, configuration and use of an appropriate solution.How can we ensure that our Balanced Scorecard system is maintained in the long term?It is important not only to build the system right, but to maintain it by continual use and re-education of personnel on its purpose and benefits.  Since everything is changing in the business environment, a Balanced Scorecard program is never "done" -- it is an ongoing journey.The key is to maintain strategic alignment to mission and vision and long-term strategic results - these evolve and they provide a "pivot" around which everything else revolves.  Leaders should continually clarify this vision. Scorecards inherently communicate goals and objectives and keep people focused on these results and the strategies for getting there.Who has accredited the certifications?The certifications and courses are jointly accredited by the Performance Management Fellowship and UNICOM.Is an exam required for certification?Yes. The courses include continual assessment through practical, hands-on, exercises.  An end of course exam evaluates the theory and practical skills learned.  There is a 30 minutes time limit to complete the exam and results are posted immediately. What is the passing score on the certification exam?A score of 70% is needed to pass.Will I get to see which questions I missed on the certification exam?Yes. You will also get the access to all the correct answers and have opportunity to discuss with the tutor.Is personal experience necessary as a prerequisite for certification?No.  However, experience is helpful because our courses are oriented to practical and realistic planning, management, and measurement situations.Will certification help me in my job or if I move?Yes.  There is immediate application from completing the course.  As a listed qualification, the Performance Management Fellowship certificated training can be used on a CV and will be of value when applying for promotion or moving job.  Where can we get training?UNICOM provides list of upcoming open training courses.  In addition, once an organisation has omitted to implementing Balanced Scorecards, there are specialized in-house courses, facilitated workshops and consulting services that guide organisations through the methodology to build and implement a powerful and sustainable Balanced Scorecard system.What are the qualifications of the course instructors?All instructors are educated to degree level with previous training experience.  All are practitioners bringing at least 10 years international coaching consulting organisations to improve their performance.What is the "Performance Toolkit"?The Performance Toolkit is a set of forms and templates to be used as guides for each step in the Nine Steps scorecard development framework.What is a KPI?KPIs or Key Performance Indicators are the selected measures that provide visibility into the performance of a business.  They are chosen to enable decision makers to take action to deliver the agreed outcomes.  Typically, KPIs are monitored and distributed in dashboards, scorecards or briefing books.  They provide everyone in the organisation with an understanding of the strategy implementation progress.  KPIs empower learning and improvement on critical operations, capabilities and processes across business areas.Why do we use KPIs?KPIs focus on achieving outcome.  Monitoring and analysis of the trend using a KPI will underpin decisions to ensure things are done right.How do I formulate a KPI?The formulation of a cascade of KPIs should follow a specific pattern. The following questions provide a useful guide:What? Brainstorm the variables.  Which measures will change as the objective is realized;How much?  Define the magnitude of the change we want to achieve;Who?  Clarify who is empowered and accountable to deliver the target;Where?  Specify information on the intervention area;When?  Define the time frame. Which KPIs should I monitor?KPIs vary from one organisation to another.  They should reflect the specific strategy and environment in which it operates. You should be measuring:The business objective to be monitoredThe actions or behaviours needed to deliver the objective (KPIs) What are some best practices in creating a KPI dashboard?1. Select a limited number of relevant performance measures.2. Document each measure thoroughly.3. Use data visualization techniques to make the dashboard interesting.4. Streamline the data gathering process.5. Update and review data frequently.6. Take action when require.7. Learn and share insights.8. Change the dashboard when required, to reflect the changes in the business environment.9. Keep it on one page.10. Ensure it is relevant and the value added by it makes the effort worthwhile.How can I make payment?Payment can be made via Cheque / DD / Online Funds transfer / Cash Payment.Cheque should be drawn in favour of "UNICOM training and Seminars Pvt Ltd" payable at BangaloreNEFT Payment:Account Name: UNICOM Training & Seminars Pvt LtdBank Name : State Bank of IndiaBank Address: Ground Floor, K V Plaza, Green Glen Layout, Outer Ring Road, Bangalore.A/c Number : 31729010535IFSC : SBIN0012706A/c Type: CurrentWhom do I contact for more details? You can mail us at contact@unicomlearning.com or Call 953887878

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