By the end of the course, delegates will:
- Understand the concept and principles of the Balanced Scorecard (BSC) as a strategic performance management tool.
- Define key terms and articulate the benefits of adopting a Balanced Scorecard system.
- Conduct an organizational assessment to set a clear vision, mission, and strategy.
- Identify and prioritize strategic perspectives and objectives to align with organizational goals.
- Develop a comprehensive Strategy Map, define performance measures, and create actionable initiatives to drive results.
- Gain practical knowledge of the step-by-step process to design, build, and implement a Balanced Scorecard system.
- Learn strategies for cascading the scorecard across the organization and integrating it into existing management frameworks.
- Recognize common challenges in BSC implementation and explore solutions for long-term success.
DAY 1
Overview of the Balanced Scorecard (BSC)
- Introduction to performance management and measurement
- Definitions and foundational concepts of BSC
- History and evolution of the Balanced Scorecard
- Key benefits of adopting a Balanced Scorecard approach
- Comparison: BSC vs. other performance management systems
- Application differences between private sector and public agencies
- Core questions addressed by the BSC
- Methodology for developing and implementing a Balanced Scorecard project
- Indicators of success and challenges in BSC adoption
- Sample performance measures and real-world examples
- Interactive exercises and a case study for practical application
DAY 2
Building the Balanced Scorecard
- Conducting organizational assessments to define vision, mission, and strategy
- Identifying customer groups and developing the Customer Value Proposition
- Case studies and examples to illustrate key concepts
- Developing strategic themes, results, and objectives
- Strategy mapping: Establishing cause-effect relationships between objectives
- Creating Strategic Performance Measures, Targets, and Thresholds
- Designing Strategic Initiatives and defining selection criteria
- Hands-on workshops to build strategy maps and measures
DAY 3
Implementing the Balanced Scorecard
- Addressing implementation challenges and aligning strategy with operations
- Collecting, verifying, and validating performance data
- Transforming data into actionable insights
- Exploring software tools for performance management
- Developing internal and external communication strategies
- Cascading the scorecard across departments and levels of the organization
- Motivating employees to align with strategic goals
- Linking performance with resource allocation and rewards systems
- Managing the rollout, training, and change management process
- Using performance information to drive organizational improvement
- Assessing organizational readiness for strategic change
DAY 4
Maintaining and Enhancing the Balanced Scorecard
- Overcoming organizational obstacles and resistance
- Integrating BSC with other management and information systems
- Leveraging consultants effectively for specialized needs
- Time management and scheduling for successful BSC projects
- Developing an actionable improvement plan tailored to your organization
- Conducting follow-ups and performance reviews to ensure long-term success
- Exercises, real-world examples, and discussion forums
DAY 5
Advanced Applications and Strategic Alignment
- Advanced strategy mapping for complex organizations
- Aligning departmental and individual performance with strategic goals
- Continuous improvement: refining metrics and strategies over time
- Building a culture of accountability and innovation
- Managing cross-functional initiatives with the BSC
- Case studies highlighting successful Balanced Scorecard implementations
- Group exercises: designing an end-to-end Balanced Scorecard for a sample organization
- Final Action Plan: Tailoring a Balanced Scorecard framework for your organization
