Description
OBJECTIVES
By the end of the course, delegates will be able to:
- be able to understand the concept of the balanced scorecard;
- be to define terms; list reasons for adopting a balanced scorecard system;
- be able to use an organization assessment to set vision, mission and strategy;
- be able to choose perspectives and developing objectives, developing a Strategy Map, defining performance measures, developing Initiatives;
- be able to identify the steps needed to build a scorecard system and the implementation etc.
PROGRAMME CONTENTS
Overview of the Balanced Scorecard (BSC)
- Definitions
- Balanced scorecard history
- Reasons for undertaking a balanced scorecard project
- Similarities and differences among BSC and other performance systems
- Advantages of using BSC performance systems
- Contrast private sector and public agency use of scorecards
- Key questions the BSC seeks to answer
- Sample BSC performance measures
- The Methodology for building and implementing a balanced scorecard project
- Meeting the challenges of scorecard systems
- Indicators of successful projects
- Examples
- Exercises
- Case study
Building the Balanced Scorecard
- Using an organizational assessment to set vision, mission, and strategy
- Identify customer groups and develop the Customer Value Proposition
- Case studies
- Examples
- Develop Strategic Themes and Strategic Results
- Develop Strategic Objectives and strategic success drivers
- Strategy mapping – develop cause-effect relationships among the objectives
- Derive Strategic Performance Measures, Targets, and Thresholds
- Develop Strategic Initiatives Define Criteria for Selecting Initiatives
Implementing the Balanced Scorecard
- Implementation issues
- Aligning strategy and work throughout the organization
- Collect, verify and validate performance data
- Transforming data into information
- Software options for managing performance information
- Developing an internal and external communication plan
- Cascading the scorecard throughout the organization
- Employee motivation
- Linking strategy to resource decisions
- Linking performance to rewards
- Scorecard roll out, training, and change management
- Using performance information to improve organization performance
- Examine Strategic change readiness in your organization.
- Examples
- Exercises
Getting Your Scorecard on Track
- Overcoming obstacles and challenges within your organization
- Integrating the scorecard with other enterprise management and information systems
- The role of consultants
- Time and schedule estimates
- Develop an Action Plan based on your organization’s readiness
- Exercise
- Discussion
