Why Do Some Organizations Fail to Stay Competitive in the Market?
One of the most significant reasons is the lack of a Performance Management System that effectively collects, analyzes, and reports information regarding organizational performance.
The purpose of developing a system for effective performance measurement is to understand, adjust, and improve business operations across all departments of the organization. Performance measurement enables organizations to quantify their success. In addition to the control function, performance indicators also serve two other critical functions:
- Development and Guidance Function - They provide a foundation for formulating and implementing organizational strategies.
- Motivation Function - They drive management to achieve goals and motivate all stakeholders to exceed these goals.
Performance measurements and Key Performance Indicators (KPIs) are essential tools for monitoring the execution of organizational strategy. It is, therefore, crucial that organizations develop both effective strategies and the means to execute them. The Monitor Group surveyed senior executives, and their top priority was “Strategy Execution”.
Delegates attending this workshop will explore the crucial role of KPIs in measuring company performance and in translating strategy into action using the Balanced Scorecard.
This Energy Training Centre training courses will cover:
- Integrating performance measures into strategic and operational management systems
- Linking strategy to operational activities
- Methods for developing and implementing a performance measurement system
- Provision of a practical resource kit for implementing performance measurements
- Realizing the benefits of utilizing an effective performance measurement system
- Understanding the concept of strategy and strategy execution
- Addressing the human factors involved in implementing a performance measurement system
- Designing and developing dashboards and scorecards in Excel
At the end of this Key Performance Indicators and Optimisation Workshop, participants will be able to:
- Develop a comprehensive performance measurement system
- Link strategic goals to operational activities effectively
- Design and implement dashboards and scorecards in Excel
- Analyze and optimize key performance indicators for success
- Understand and address human factors in strategy execution
This Key Performance Indicators and Optimisation Workshop will utilise a variety of proven highly interactive learning techniques to ensure understanding and retention applicability of the information presented. This includes facilitated group and individual exercises, case studies for class work and discussion. The principles and approaches to key performance indicators and optimisation will be illustrated by real-life examples.
The organisation will have the following benefits:
- Enhanced alignment of strategy and operations
- Improved decision-making through actionable insights
- Increased efficiency in performance tracking
- Stronger motivation and engagement across teams
- Optimised use of resources and capabilities
- Better adaptability to market changes
At the end of this training course, the participants will gain the following:
- Mastery of performance measurement techniques
- Skills to develop effective dashboards and scorecards
- Improved ability to align tasks with strategy
- Enhanced decision-making and analytical skills
- Increased confidence in executing strategic goals
- Tools to drive continuous improvement
This interactive workshop will be highly beneficial to the following professionals:
- All personnel involved in developing and implementing performance measures
- Advisors, planners, and others developing scorecards and dashboards
- Functional, line, and operational managers
- Process improvement/quality managers
- Project/PMO managers
Day One: Foundations of Performance Measurement
- Introduction to performance management
- The need for performance measurement system
- Current methods of measurement and common failings
- Understanding key performance indicators
- Setting SMART objectives for performance measurement
- Alignment of key performance indicators with strategic objectives
Day Two: Developing Key Performance Indicators
- Characteristics of effective key performance indicators
- Develop and standardise performance metrics
- The balanced scorecard approach
- Phase model for implementing performance measurement system
- Communicating key performance indicators and performance results
- Role of technology in performance measurement
- Overcoming resistance to performance measurement
Day Three: Strategy Execution and Operational Management
- The concept of strategy
- Understanding strategy execution
- Overcoming barriers to successful strategy execution
- Resource allocation and management
- Linking strategy to operational activities
- Key performance indicators to monitor and adjust operational activities
Day Four: Human Factors in Performance Measurement
- The role of leadership in performance management
- Employee engagement and motivation
- Building and sharing a vision
- Effective communication
- Emotions and rapport
- Managing conflict assertively
Day Five: Optimising and Driving Key Performance Indicators Performance
- Designing dashboards and scorecards in Excel
- Customising performance reports
- Leveraging data analytics to enhance key performance indicators performance
- Challenges and solutions in implementation
- Summary & Next steps