This course is essentially the 'what', 'why' and 'how' of the Balanced Scorecard as a strategic performance management system.
It provides a step-by-step methodology to build and implement the balanced scorecard framework. You will be able to practice developing a scorecard for a typical organisation, as well as examine your own organisation's requirements, costs and benefits in adopting a BSC system.
It explores the challenges and opportunities within the scorecard methodology, scheduling and staffing and, how to organise a BSC effort within your own organisation.
Topics covered in the course include:
- Basic concepts of the BSC and why it is the leading strategic management system.
- How it is used to transform organisations, achieve strategic alignment and improve performance.
- How to build and implement a balanced scorecard using the BSI nine step methodology.
- How to develop more meaningful performance measures.
- How a scorecard system can drive a performance based budget and employee accountability.
- Challenges and pitfalls of strategic management and how to deal with them.
Who Should Attend & Why
This course is recommended for executives, line managers and planners who are concerned about performance management and who want to gain a detailed and practical understanding of what a BSC system is, how it works and how to commence building one.
Course participants will gain an understanding of the key concepts of the BSC and why it is becoming so widely used in corporate, government and non-profit organisations.
The course is designed for executives and managers to understand how a BSC system works, what the benefits and costs are to develop and implement the system, and what organisational changes are required to institutionalise the system.
Participants learn a systematic, nine-step methodology for building and implementing the BSC based on performance management theory developed at Harvard University and combined with our international consulting experience.
Participants will receive a Performance Scorecard Toolkit TM with worksheets for each step of the methodology.
- Explain the concept, origin and utility of the balanced scorecard.
- Explain the concepts of performance measurement and strategic management and the reasons for adopting a balanced scorecard system.
- Identify the six steps needed to build a scorecard system and the three steps needed to implement the system.
- Discuss indicators of successful systems.
- Identify the time periods for a scorecard project.
- Describe a typical BSC cycle.Describe the building of a balanced scorecard; using an organisation assessment to set vision, mission and strategy, defining strategic themes, choosing perspectives and developing objectives, developing a strategy map, defining performance measures and developing initiatives.
- Describe the implementation of the balanced scorecard system, including the use of data systems to communicate performance information, the cascading of the system throughout the organisation, and the use of scorecard information to improve performance.
- Identify and address the challenges of integrating balanced scorecard systems with other enterprise-wide systems and set out ways of overcoming challenges to implementation.
- Identify how your scorecard is “on track”; apply the BSC to your organisation’s needs, indicating specific issues that need to be addressed.