Implement a Balanced Scorecard Management System to drive business performance
The training course provides you with relevant knowledge on how to develop and implement a Balanced Scorecard System. This course offers a comprehensive overview on the many benefits any organization can extract from the Balanced Scorecard System implementation. A highly interactive learning experience will enable you to grasp the functionality of the Balanced Scorecard, and leverage on its benefits to advance strategy execution. The course focuses on delivering all the information needed to fully comprehend the value of the Balanced Scorecard, as well as on developing the necessary skills for a successful implementation.
•Comprehend fundamentals of a Performance Management System;
•Transpose the organizational strategy into a Balanced Scorecard Management System;
• Learn how to integrate the components of a Balanced Scorecard Architecture;
•Differentiate between objectives, KPIs, and initiatives.
Day 1
Balanced Scorecard - Performance Management Framework
› What is Balanced Scorecard?
› Balanced Scorecard structure and elements
› The role of the Balanced Scorecard
› BSC terminology
› BSC system architecture.
Balanced Scorecard Governance and Performance Leadership
› Clarify mandate for improvement
› Enlist leadership support
› Balanced Scorecard governance framework
› Build project competency.
Day 2
Organizational assessment
› Assessment and evaluation
› Internal Assessment
› Performance Management Maturity Model
› Environmental scanning techniques.
Strategy Formulation and Integration
› Defining strategy
› Vision, Mission Statement
› Organizational values.
Day 3
Setting organizational objectives
› Value drivers
› Goals and Objectives
› SMART Objectives
› Building the Strategy Map
Working with KPIs
› KPI Balancing
› KPI selection for organizational scorecard
› Importance of KPI Documentation
› Target setting recommendations.
Day 4
Initiative management
› Portfolio of Initiatives development
› Initiatives documentation form functions
› Initiatives documentation process.
Aligning the BSC across organizational levels
› Alignment approaches
› Objectives and KPI cascading: Functional area.
Day 5
Managing the BSC system
› Data governance
› Performance reporting
› Performance review meetings
› BSC system recalibration.
Nurture a Performance Culture
› Communication
› Education
› Engagement
› Comprehensive Performance Management System
› Compensation and Gamification.
Review and Q&A
› Course review
› Q&A.