INTRODUCTION
This is a five-day training program. Our Building and Implementing a Balanced Scorecard: Nine Steps to Success framework is the basis of the course, where the emphasis is on shared participant experiences, lessons learned, and best practices.
Small-group exercises are used for each step in the framework, to reinforce the lectures, and participants are encouraged to bring their organization's strategic planning material to share with the class and receive instructor feedback.
LEARNING OUTCOMES
The program will help participants:
- Understand the key concepts of the balanced scorecard, and why it is gaining so much attention in corporate, nonprofit, and governmental organizations.
- Learn a systematic, nine-step methodology for building and implementing the balanced scorecard, based on our international balanced scorecard consulting experience.
- Llearn about some of the challenges and pitfalls of developing and sustaining a balanced scorecard strategic management system, and how to overcome the challenges.
WHO MUST ATTEND
This course is recommended for executives, managers, planners, and analysts who are part of a balanced scorecard development team and are seeking the best practical ideas for improving organizational performance.
PROGRAM OBJECTIVES
Topics covered by the course include:
- Basic concepts of the balanced scorecard and how it can be used to improve organization performance
- How the balanced scorecard applies to different types of organizations
- How to build and implement a balanced scorecard using our award-winning nine-step methodology
- How to develop Strategy Profiles, strategy maps, and initiatives for improving organization strategy and processes
- How to develop meaningful performance measures and targets for balanced scorecards
- The correct sequence of steps that are necessary to build a strategy focused organization
- How a scorecard system can drive a performance-based budget and employee accountability
- How to automate the scorecard, and get performance information throughout the organization to better inform decision making
- How to cascade the scorecard to all levels of an organization
- How to develop an evaluation plan, to make corrections to strategy, measures, and initiatives
- How to be an effective team member of a balanced scorecard development team
PROGRAM OUTLINE
Module I: Introduction to the Course
Learning Objectives: Introduce the course modules; introduce the case studies and exercises; introduce participants; define terms, and discuss reference material.
- Introductions, expectations, and participant knowledge
- Workshop objectives
- Agenda, schedule, and logistics
- Definitions and references
- Introduction to the examples, case study, small-group exercises, performance measurement software, and the performance scorecard toolkit.
Module II: Building a Balanced Scorecard System
Learning Objectives: Explain the evolution of measurement and strategic management systems; understand the history of the balanced scorecard; list reasons for adopting a balanced scorecard system; learn about the Institute’s Nine Steps to Success™ scorecard framework; identify the six steps needed to build a scorecard system and the three steps needed to implement these systems; learn how to contribute and lead a balanced scorecard team; learn about scorecard system components and how each component contributes to a management system; learn advanced techniques for scorecard program planning, change management, organization assessment, develop strategic objectives and strategy mapping, performance measures, and strategic initiative identification and prioritization.
- Introduction to performance management and measurements
- Balanced scorecard concept, origin, and history
- Reasons for undertaking a balanced scorecard project
- Similarities and differences among BSC and other performance systems
- Advantages of using BSC performance systems
- Contrast private sector, public agency and nonprofit use of scorecards
- Key questions the BSC seeks to answer
- The nine-step methodology for building and implementing a balanced scorecard project
- Building the scorecard system
- Step 1: Assessment
- Step 2: Strategy
- Step 3: Strategic Objectives
- Step 4: Strategy Mapping
- Step 5: Performance Measures and Targets
- Step 6: Strategic Initiatives
- Guidelines for assembling the scorecard components
- Scorecard roll-out and example
Module III: Implementing a Balanced Scorecard
Learning Objectives: Learn how to implement a scorecard system; learn how to automate the scorecard system; learn how to cascade the scorecard system to business and support units, and to teams and individuals; learn how to evaluate the management system; learn how to use scorecard information to improve performance.
- Implementation issues
- Align strategy and work throughout the organization
- Implementing the scorecard system
- Step 7: Performance Analysis
- Step 8: Alignment
- Step 9: Evaluation
- Collect, verify and validating performance data
- Transform data into information
- Software options for managing performance information
- Cascade the scorecard throughout the organization
- Employee motivation
- Link strategy to resource decisions
- Link performance to rewards
- Use performance information to improve organization performance
- The scorecard as a learning framework.
Module IV: Communication and Change Management
Learning Objectives: Understand how interactive communications and engaged leadership are key components of the scorecard development process; learn how to plan for and implement change; learn about recognition, rewards, and incentives in scorecard systems.
- Engage employee hearts and minds
- The internal change journey
- Lead sustainable change
- Guidelines for communicating scorecard plans and results
Module V: Facilitating the Scorecard Process
Learning Objectives: Learn techniques of facilitation; learn how to facilitate scorecard development workshops.
- Challenges
- Basic elements of facilitation
- Decision-making methods
- Organize and lead scorecard development workshops
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