ASCM (APICS) is the world's leading association for supply chain management, providing education and certification programs.
The balanced scorecard approach empowers company managers to communicate strategic targets across the organization in an easy-to-understand metric format as well as to measure and continually improve the performance of business units, departments, internal or external projects in line with overall business objectives. As an innovative strategic tool, the Balanced Scorecard System helps companies to continuously analyze and enhance their capabilities in order to increase value added for customers.
This class looks at the process of development and implementation of a Balanced Scorecard. Although it requires basic understanding of the balanced scorecard methodology, the class begins with a brief overview of the concepts and techniques involved in strategic management by way of a balanced scorecard. Next, we will go over the stages of scorecard development and implementation and gradually work our way through a comprehensive case study. The case study will address specific issues arising when implementing the balanced scorecard approach in a production environment, a service environment, and on a project basis.
The stages of development and implementation that we will cover in detail are:
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The stages of development and implementation that we will cover in detail are:
Stage 1: Preliminary Analysis
- Review of strategic business targets for the company or project
- Identification of strategic dimensions for analysis and measurement
- Independent review of key business processes for the company as a whole and within each dimension
- Definition of key success factors for strategic targets within each dimension
- Prioritization of the strategic dimensions and their key success factors by means of weights for relative contribution to the overall performance
Stage 2: Design of Balanced Scorecard System
- Identification of key performance indicators for measurement of the achievement of operational targets, corresponding to the related key success factors
- Design of strategic map, illustrating the dependencies between key success factors and key performance indicators
- Weighting of key success factors and key performance indicators in the typical strategic dimensions: Finance, Customer Relationship Management, Internal Business Processes, Innovations & Knowledge Management, Human Resources Management, etc.
- Defining target levels of performance for all components in the strategic map
- Design of tools and models for collection of data in each strategic dimension
- Conversion to common units of measurement for the key success factors and the key performance indicators by computing the percentage of target achievement
Stage 3: Data Collection and Analysis
- Application of tools and models in each strategic dimension. Integration of data from available systems in use for operations management, such as: MRP/ERP/CRM/JIT/TQM/SixSigma-based systems, variations of financial models such as DCF/EVA, etc.
- Final design of the scorecard system with comparable industry- and company-specific key performance indicators
Stage 4: Evaluation of Results
- Aggregation of results from the tools and models and input of measured indicators to the scorecard system
- Analysis of company/project performance based on the results, generated by the scorecard system with various graphic & statistical tools – dashboards, histograms, regression analysis, etc.
Stage 5: Recommendations for Improvement. Monitoring & Periodical Analysis
- Prioritization of key success factors in need of improvement
- Outlining specific improvement measures and simulation of various scenarios
- Periodical evaluation and analysis of results generated by the Balanced Scorecard System
- Opportunities for statistical analysis and benchmarking
- Updating and continuous analysis of the key parameters in the system – priorities, targets, weights, key success factors and key performance indicators
Seminar participants will receive a course booklet containing:
- a comprehensive set of sample key performance indicators;
- excerpt data from authoritative subject matter research;
- a number of templates that can be put to use when developing and implementing a balanced scorecard.
Who should attend?
The Balanced Scorecard Development & Implementation Workshop is recommended for:
- Company managers
- Department managers
- Project managers
Benefits from attending this course:
Apart from learning how to communicate strategic targets across the organization in an easy-to-understand metric format and use the Balanced Scorecard System, seminar participants will receive a course booklet containing:
- a comprehensive set of sample key performance indicators;
- excerpt data from authoritative subject matter research;
- a number of templates that can be put to use when developing and implementing a balanced scorecard.
Course format: Multimedia presentation on the topic, combined with a diverse set of practical examples from the lecturer's practice and different companies. Discussion on the topics and individual cases from participants, as well as practical exercises.
Length: one or two days.
How we offer the course: The course is offered both in a public format (everyone can attend) and as an inhouse course. The content can be customized to suit your company's needs.
Certificate: Symix APICS Premier Channel Partner issues a certificate for completion of the course.
Type: Non-certification course. Students do not take an exam for APICS certification.
Working language: English. Translation and translated materials can be delivered on demand.
Instructor: the training is led by an instructor, certified by APCIS.