Implementing and using a Balanced Scorecard System

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Develop forward-looking strategies to drive business performance and achieve desired goals.

The training course aims to provide you with relevant knowledge on the development and implementation of the Balanced Scorecard. This course offers a comprehensive overview on the benefits an organization can obtain  by implementing the Balanced Scorecard.

The highly interactive learning experience will enable you to grasp the functionality of the Balanced Scorecard and secure its purpose for 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

3 Key business benefits

  • Gain competitive advantage by understanding the context in which the Balanced Scorecard is used; 
  • Attain the desired state of organizational evolution by structuring the Balanced Scorecard implementation process;
  • Ensure a deeper understanding of the connections between organizational strategy and the Balanced Scorecard.

Day One: Understanding the Balanced Scorecard based Performance Management System

Introduction - Performance Management and the Balanced Scorecard

  • Expectations from the Balanced Scorecard in practice
  • What is the Balanced Scorecard?
  • The role of the Balanced Scorecard in a strategic performance management context
  • The evolution of the Balanced Scorecard, current state and emerging trends
  • Performance Management System Architecture

Analyses: Command and control thinking vs. System thinking

Architecture of a Balanced Scorecard based Performance Management System

  • Desired State of Evolution (DSOE) - linking values, mission, value drivers and vision
  • Strategy Map - objectives as a performance road map
  • Performance Scorecard - balance and alignment
  • Portfolio of Initiatives - translating priorities into action
  • KPIs as performance management enablers

Discussion: Best practice in Balanced Scorecard design - review of examples

Case study - Developing Balanced Scorecard Performance Architecture

  • Mapping the Balanced Scorecard Architecture
  • Formulating the Desired State of Evolution
  • Building the Strategy Map - grouping and linking objectives by perspectives and themes
  • Developing the Performance Scorecard - defining most relevant KPIs
  • Setting-up the Initiatives Portfolio - identifying and prioritizing strategic initiatives

Exercise - Customizing Balanced Scorecard templates

  • Review of DSOE, Strategy Map, Performance Scorecard and Portfolio of Initiatives templates
  • Documentation of Balanced Scorecard components
  • Questions & answers, guidance in the documentation process

Discussion: Preliminary review of outputs

Day Two: Implementing and using a Balanced Scorecard based performance Management System

Balanced Scorecard implementation process

  • Review of Day 1 and exercise outputs
  • Stages of the implementation
  • Planning and deploying the implementation process
  • Technology as an enabler

Discussion: Preliminary review of outputs

Generating value with the Balanced Scorecard

  • Data gathering and KPI activation
  • Performance reporting with the Balanced Scorecard
  • Performance review meetings
  • Initiatives management
  • Reviewing the Balanced Scorecard

Exercise: Identifying initiatives during a performance review meeting

Balanced Scorecard in practice - success factors and challenges

  • Integration with other organizational systems: budgeting, communication and performance assessment
  • Balanced Scorecard and Leadership
  • Balanced Scorecard and Risk Management
  • Balanced Scorecard and Project Management

Quiz: Pitfalls in working with the Balanced Scorecard

Applying the course learning in organizations

  • 10 insights into implementing and using the Balanced Scorecard smartly
  • Taking back in organizations what was learned during the course
  • Overview of learning and conclusions

Questions & answers; open discussion

 

"I would rate the training 10 out of 10 and would highly recommend to others. The facilitator managed to get excellent group interaction right from the beginning, the KPI course was interesting, informative and very well presented."

Mohamed Salah El-Dein, Learning & Development Manager, Salehiya Medical, Saudi Arabia

 
"The KPI Institute has provided us with an excellent KPI program which was tailored to the needs of our organization. We highly recommend the Institute KPI educational programs."

Ahmed Alsaheel, Human Resources Director, Salehiya Medical, Saudi Arabia

"I found the course very beneficial and informative in terms of standardizing terminologies, definitions, documentations and other aspects of performance measurement. Since we have limited performance measures in our organization, the course was a very good start to initiate a program for building a comprehensive performance measurement system in our bank. It's highly recommended for startup initiatives and for those who want to brush up their systems."

Faiqa Janahi, Manager Human Resources Planning, Bahrain Islamic Bank, Bahrain

 
"Thank you for the excellent training workshop on KPIs. It was an eye-opening experience and provided much needed guidance and clarification. The information gained has provided focus and depth."

Parsa Zoqaqi, Royal Univerisity for Women, Bahrain

 
"This is one of the best programs regarding performance management I have ever attended. I highly recommend this training for any manager who wants to manage his/her business in the right way."

Perviz Aslani, Chief Operating Officer, EMBAWOOD, Azerbaijan

"What I've learned from the course is very useful for me as we are developing the KPI of 2013 for our Holding Co. and two SBUs under Kingfisher group."

Ong-ard Wijitjitlert, Business Development Manager, Kingfisher Holdings, Thailand

 
"Aurel's ability to explain key performance management theory and practical concepts to staff at all levels of management was one of the key learning experiences in this area."

Clifford Chaperon, Australia Post, Australia

"Great! So glad I found it. Gave me everything I need to do my job properly and with confidence."

Leonne Jones, Brisbane City Council, Australia

 
"I found the course rather good for introduction to the KPI world. I definitely benefited from it and already started to apply some of the key points in my daily work. I am glad that I participated in the training and met The KPI Institute team."

Isil Aras, Network Operational Performance Senior Expert, EUROCONTROL, Belgium

"We see the ability to understand and monitor the vital numbers behind the strategies and capabilities of our investments as vital to our competitive edge. I am confident that the course will help us to both sharpen our internal tools and to provide further value in our strategic sparring with company management."

Angus Steel, Portfolio Manager Equities, Delta Lloyd Asset Management, Netherlands

 

 

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