Balanced Scorecard Professional Course
Accounting, Finance and Budgeting Training
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Balanced Scorecard Professional Course
Course Overview:
The course around the Balanced Scorecard entails the knowledge and tools necessary for the design and application of the balanced scorecard system which translates organizational vision into action with an elaborated framework for measurable performance.
At the end of the training session, participants will have a strategic approach, rectify poorly structured scorecard items, and bestow measures in the performance management system.
Key subtopics include the organisational cascade of the scorecard, performance-driven budget, and the ownership of performance by the employees.
In addition, the course covers real practice issues, including how to manage strategy - performance data collection and verification and performance management software applications. Learners will acquire the competence necessary to communicate, manage change, and facilitate the scorecard process so that the applications are successfully deployed and sustained over time.
Course Objectives:
At the end of the Balanced Scorecard Professional training course, you will be able to :
- How to design and implement a scorecard within existing frameworks
- How to think strategically without getting bogged down in tactical details
- How to revise poorly designed scorecard elements
- Balanced scorecard “best practices.”
- Advanced concepts in performance measurement
- How to cascade the enterprise scorecard throughout the organization
- How to drive a performance-informed budget and build employee accountability
- How to overcome obstacles and real-world challenges
- The evaluation of planning documents and processes
Who Should Attend?
This course is designed for
- Executives, managers, planners
- Analysts who are seeking the best practical ideas for improving organizational performance.
Course Outlines:
Introduction
- Introductions, expectations, and participant knowledge
- Workshop objectives
- Agenda, schedule, and logistics
- Definitions and references
- Introduction to the examples, case study
- Group exercises
- performance measurement
Building a Scorecard System
- 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 i.e., Assessment, Strategy, Strategic Objectives, Strategy Mapping, Performance Measures and Targets, and Strategic Initiatives
- Guidelines for assembling the Scorecard Components Scorecard roll-out and example
Implementing a Balanced Scorecard
- Aligning strategy and work throughout the organization
- Implementing the scorecard system
- Automation, cascading, and evolution
- Collecting, verifying, and validating performance data
- Transforming data into information
- Software options for managing performance information
- Cascading the scorecard throughout the organization
- Employee motivation
- Linking strategy to resource decisions
- Linking performance to rewards
- Using performance information to improve organization performance
- The scorecard as a learning framework
Communication and Change Management
- Engaging employees' hearts and minds
- The internal change journeys
- Leading sustainable change
- Guidelines for communicating scorecard plans and results
Facilitating the Scorecard Process
- Challenges
- Basic elements of facilitation
- Decision-making methods
