Management Engineering concept of Balanced Scorecard

Management Engineering concept of Balanced Scorecard

 

Date: (22-26/Jan) (16-20/July) (15-19/Oct)

Location: Kuala Lumpur – Istanbul – Amman

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Course Overview

Introduction:

Too often, organizations fail to turn their strategies into operational reality; this where the Balanced Scorecard comes in. By translating strategy into a balanced set of objectives covering all aspects of operations and setting clear measurements it enables organizations to put strategy at the heart of everything they do. It helps executives and senior managers to steer the ship whilst enabling managers and staff to contribute more fully to the success of the organization. The Balance Scorecard empowers people to drive internal processes that deliver great customer service and ultimately financial success.

 

Program Objectives:

  • Help facilitate the creation of a strategic plan in their organization
  • Describe the structure and typical content of a Balanced Business Scorecard
  • Build a Balanced Scorecard from scratch based on their organization’s strategy and objectives
  • Know how to use the Balanced Scorecard to align operational activity with strategy
  • Use best-practice approaches to overcome obstacles and challenges to putting a Balanced Scorecard into practice
  • Understand and meet the challenge of managing a significant change in organizational culture

 

Who Should Attend?

This course will mainly benefit to purchasing managers, senior buyers, project managers, civil engineers, construction managers, contractors, sub-contractors, site engineers, senior management, and government agencies, architects, construction professionals, and anyone responsible for purchasing at a senior level who seeks to enhance their skills further.

 

 

Program Outline:

DAY 1

Strategic Planning and the Balanced Scorecard 

  • Introduction to the Balanced Scorecard
  • Benefits of the Balanced Scorecard
  • Linking Mission and Vision to operations
  • Application and uses of the Balanced Scorecard
  • The Financial, Customer, Process perspectives in detail
  • Overview of the Balanced Scorecard creation process
  • Strategy Maps and Strategic Themes
  • Strategic Measures and Strategic Targets
  • Lessons learned from Day 1

 DAY 2

Developing a Balanced Scorecard

  • Create a strategy-centric organisation
  • The Learning & Growth perspective in detail
  • Define strategy, identify strategic themes and build strategic linkages
  • Engage the leadership team
  • Importance of data collection, interviews and focus groups
  • Strategic documentation
  • Work with the Case Study
  • Strategic objectives and strategic themes
  • Lessons learned from Day 2

DAY 3

Measuring and Monitoring Strategic Performance

  • Purpose of strategic measures and their relationship with KPIs
  • Lead and lag measures
  • Develop appropriate measures using the Strategy Map
  • Examples of measures for each of the four perspectives
  • How to implement the Balanced Scorecard
  • Determine measures and targets
  • Aligning balanced scorecard to the planning and budgeting process
  • Case study activities
  • Lessons learned from Day 3

DAY 4

Implementing the Balanced Scorecard

  • Map strategic initiatives
  • The Strategic Management System and performance management
  • Setting appropriate targets
  • Plan for implementation
  • Build a Balanced Scorecard from scratch
  • Cascade the Balanced Scorecard across the organisation – creating business unit, functional, support and personal scorecards.
  • Aligning incentives to the balanced scorecard – ‘what you measure is what you get’
  • Strategy Review Meetings
  • Case study activities
  • Lessons learned from Day 4

DAY 5

Pulling it all Together

  • Review and enhance the Balanced Scorecards built on Day 4
  • How to make it work in your organisation
  • Communicating the Balanced Scorecard
  • Creating an outline project plan
  • Identify key roles and key players
  • Identify potential pitfalls and barriers to change
  • Top Tips for success
  • Create a personal plan of action
  • Lessons learned from the seminar