Key Performance Indicators (KPIs) and Optimization Strategies

Introduction:

At this Key Performance Indicators (KPI) and Optimization conference, participants will acquire the skills to create or enhance measurement systems within their organization. This conference connects operational activities with strategic directions, emphasizing the importance of success factors and performance measures.

Participants will gain an understanding of critical success factors (CSFs), key results indicators (KRIs), and key performance indicators (KPIs), learning to differentiate their characteristics and interactions. This knowledge will enable them to select the most impactful metrics from a broad array available in organizational settings.

The course will cover all aspects of deploying effective measurement systems, focusing on tested performance measures. Participants will also learn to utilize Excel to develop dashboards and scorecards. By exploring performance optimization tactics and frameworks, delegates will be better positioned to contribute to organizational success.

Objectives:

At the end of this Key Performance Indicators (KPIs) and Optimization Strategies Course, participants will be able to:

• Explain the importance of an effective Performance Measurement System.
• Discuss issues related to strategy design and implementation.
• Use strategies that emphasize all necessary metrics for development and execution.
• Address human factors related to performance measurement system deployment.
• Improve and advance Excel-based Dashboards and Scorecards.
• Determine, define, and choose CSFs and Target Performance (KRI/KPI).

Training Methodology:

• Interactive Workshops
• Case Studies
• Expert Interviews
• Group Work
• Real-Life Situation Application
• Computer Software Examples

Course Outline:

Unit 1: Exploring the Current State to Understand the Need for Change

• Performance Measurements and Management: What is this?
• Need for performance measurement.
• Review of existing measurement systems and their weaknesses.
• Qualities that describe good measures.
• What is Strategy and how do we break it down into ‘doable’ tasks?
• Overcoming barriers and engaging success factors.

Unit 2: Ensuring Impact through Success Factors

• Building a Strategy-Focused Organization (SFO).
• Overview of the Balanced Scorecard and its Four Perspectives.
• Case studies on indicators and methods used in the financial perspective.
• Definition and sources of Critical Success Factors (CSFs).
• Characteristics of Key Performance Indicators (KPIs).
• Focus on companies with outstanding performance.

Unit 3: Steps to Implement Performance Measurement

• Creating a Best Practice Model for management.
• Considerations for developing and institutionalizing Performance Metrics.
• Template examples of metrics for the Customer Perspective.
• Smith’s six-phase model for incorporating the Performance Measurement System:
  • Phase 1: Acquiring management’s support and establishing a competent team.

Unit 4: Developing and Implementing Success Factors and Performance Measurements

• Managing human issues within performance measurement variables.
• Phase 2: Strategic Business Planning Framework – implementation planning.
• Metrics examples from the Process Perspective.
• Implementation Phase 3: Outlining success factors and measurements using the Balanced Scorecard and strategy maps.
• Implementation Phase 4: Tackling performance contracts.
• Developing scorecards and scoring systems using Excel.
• Examples of metrics from the Learning and Growth Perspective.

Unit 5: Full-Day Workshop on Scorecards and Dashboards Design with Excel

• Using Excel to create dashboards and scorecards.
• Team discussion on using the dashboard in a given business environment.
• Practical: Building Excel dashboards and balanced scorecards.
• Phase 5: Completeness of metrics and building a reporting system.
• Phase 6: Support and integration of the measurement system.