In their groundbreaking work, The Balanced Scorecard, Robert S. Kaplan and David P. Norton indicate that 16 weeks is an adequate time frame to set up a Balanced Scorecard (BSC). Why then does 16 weeks so often become 16 months?
In this audio seminar, David Parmenter will help you circumnavigate the common pitfalls of balanced scorecard development. He will talk about 11 lessons that will make a difference:
- Appoint an external project facilitator
- Begin with senior management team commitment and education
- Start off with a six-perspective balanced scorecard template
- Focus on the critical success factors
- Follow the 10/80/10 rule
- Select a small KPI team
- “Just do it” culture
- Use existing systems for the first 12 months
- Trap all performance measures in a database and make them available to all teams
- Recognize that KPI reporting formats are an “art form,” not a science
- Maybe you need to rename the project
David Parmenter believes many organizations have not distinguished their critical success factors from their many success factors. In addition, they are working with the wrong measures, many of which are incorrectly termed "key performance indicators," or KPIs. In his earlier seminars, David identified the four different types of performance measures (key result indicators, result indicators, performance indicators and key performance indicators). He also went on to define the seven characteristics of KPIs.
This webcast is designed to help organizations who want to implement a BSC, or those who want to revitalise their flagging BSC. Organization size can range from large multi-nationals to those with less than 200 staff.
Prior to this seminar, attendees should listen to the first 20 minutes of David's audio seminar, Implementing Winning KPIs.
About David Parmenter
David Parmenter is the CEO of waymark solutions. His work on KPIs is now recognized internationally as a breakthrough in understanding how to make performance measures work. His book, Key Performance Indicators: Developing, Implementing,and Using Winning KPIs, published by John Wiley & Sons Inc., is now in the top ten performance management books on Amazon.com. His many articles have been published widely in leading management journals.
He has presented workshops and master classes on KPIs around the world. His speaking engagements in 2008 will cover Ireland, Scotland, England, Malaysia, Singapore, South Africa, Australia and New Zealand.
A regular contributor to BetterManagement.com, David has also worked for Ernst & Young, BP Oil Ltd, Arthur Andersen, and Price Waterhouse. David is a fellow of the Institute of Chartered Accountants in England and Wales.
