Balanced Scorecard (BSC) Introduction
- How to measure organizational performance?
- What perspectives to choose?
- How to align Mission and Vision with Performance?
- How to execute strategy?
- What metrics to choose?
Balanced Scorecard provides a management tool to measure and monitor organizational performance. It provides a dashboard view of the perspectives and metrics chosen. But then how to design and choose the right metrics and the best perspectives to measure and monitor the performance of your organization?
This training brings out a structured method for implementing Balanced Scorecard at your organization. The implementation is guided step by step with many options and choices to control the way the metrics are measured. Different scales can be used for different departments if that is relevant to your organization. Likewise the metrics can be uniquely different from one department to another. This allows one Balanced Scorecard at the organization level to be drilled down to the department level. The department heads can measure the performance of their own department while the senior management can monitor all the departments at the same time and comparison can be made real time. This makes it easier to trace the shortfall to allow feasible remedial actions.
This course is designed to enable the delegates to visualize through the graphical outputs of the metrics and perspectives. Performance monitoring is reduced to visual presentation of the metrics which are falling behind. Upon completion of this course the delegates will acquire necessary skills and techniques to run the Balanced Scorecard system without much effort. This training is conducted on take-back-and-do approach with hands on examples so that the skills acquired can be applied immediately in the day to day management of customer complaints.
Benefits Of Attending The Balanced Scorecard (BSC) Training
This two-day course is designed to meet the requirements for measuring and monitoring the vast numbers of performance metrics. This course is structured systematically for those personnel interested in excellent performance of the organization. This course will enable the delegates to acquire the skills and knowledge to effectively and systematically manage organizational performance. As a management tool, the Balanced Scorecard helps the professionals to establish the trend of performance within the department and also the relevant metrics. This allows them to see what the problem areas within the organization are. A management report can be effortlessly generated to visualize the performance of different metrics, department under the different perspectives.
The The Balanced Scorecard (BSC) Training enables the delegates to:
- Build the Balanced scorecard systematically step-by-step
- Understand the concepts of selecting right perspectives to monitor
- Choose and design right metrics to monitor
- Design right values of the metrics
- Graphically visualize and identify the metrics designed for evaluating performance
at work
- Monitor and Manage departmental performance
- Monitor and Manage perspective performance
- Implement Balanced Scorecard at the departmental level and also at the organizational
level
- Use BSC to monitor performance real time
- Use BSC to set Management Dashboard
- Use BSC as your report card
- Use BSC to improve performance
- Use BSC to drive performance based personnel accountability
Who Should Attend The Balanced Scorecard Training ?
It will be most appropriate for senior managers, planners, executives and analysts who are seeking to measure and monitor organizational performance. Multi functional teams and personnel from organization wide are encouraged to attend for maximum benefit.
Brief Balanced Scorecard Training Outline
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Day 1 (AM) |
BSC Introduction
- Basics of BSC
- Importance of a BSC
- Monitoring BSC on real time
- Importance of a drill-down
system
- Gathering data
BSC Business Objectives
- Identify major objectives to be achieved
Measures
- The metrics that will be used to measure success of the objectives
Targets
- Specific target values for the measures
Initiatives
- Projects or programs initiated to achieve the objectives.
- Closing the issues
BSC Perspectives
- Financial
- Customer Satisfaction
- Internal Processes
- Growth and Learning
- Others
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Day 1 (PM) |
BSC Inspiration
Vision and Mission
- Align Vision and Mission to the activities
Strategy mapping
- Cause and effect relationship
Identify suitable Metrics
SMART approach
- Specific
- Measurable
- Achievable
- Realistic
- Timely
BSM
- Track each metrics objectively
- Department wise
- Organizational wise
- Performance scores
- Perspectives scores
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Day 2 (AM) |
BSC Case Study
- Managing BSC
- Developing initiatives
- Conclusions and recommendations based on facts
- Overview of performance trending
- Performance scores
- Department Score Dials
- Department Score Graphs
- Department Trend Bar
- Department Trend Lines
- Department Traffic Lights
- Department Frequency Charts
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Day 2 (PM) |
BSC Discussion
- Perspective Score Dials
- Perspective Score Graphs
- Perspective Trend Bar
- Perspective Trend Lines
- Perspective Traffic Lights
- Perspective Frequency Charts
- Time Period
Charts
- Establish performance
- Interpreting the graphs
- Interpreting the reports
- Generating BSC report
- Presentation to class
- Discussion
- Conclusion
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