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Monday , April 21 , 2014
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301 Outline

Introduction to the Balanced Scorecard: Nine Steps to Success

Course 301 - 3 Days

The course (formerly called "Building and Implementing a Balanced Scorecard") will be taught in an interactive manner, using lectures, lessons learned, practical examples, case studies, software demonstrations, a performance scorecard toolkit, and shared participant experiences. The goals of this three-day course are to: learn how to build, implement and manage with a balanced scorecard performance management system, and help participants develop necessary team skills and knowledge to implement a scorecard system in their organizations.

Participants will begin building a high-level scorecard using a nine-step methodology. The methodology uses standard terminology and concepts based on the original balanced scorecard framework from Harvard University and other sources. Included with the methodology is a performance scorecard toolkit to help users build their scorecard, one step at a time. The toolkit contains worksheets for each step in the methodology. Performance measurement software will be demonstrated to show how computer software can be used to assist in setting up the scorecard, and in collecting and reporting performance information. The course includes six modules.

Course Outline:

Day One

Module I.  Introduction

(Learning Objectives: Explain the concept and origin of the balanced scorecard; outline course modules; introduce the case studies; introduce participants; and discuss reference material.)

  • Introductions, expectations, and participant knowledge
  • Workshop objectives
  • Balanced scorecard concept and origin
  • Agenda, schedule, and logistics
  • References
  • Introduction to the examples, case study, small-group exercises, performance measurement software, and the performance scorecard toolkit

Module II.  Overview of the Balanced Scorecard (BSC)

(Learning Objectives: Explain the evolution of measurement and strategic management systems; define terms; list reasons for adopting a balanced scorecard system; identify the six steps needed to build a scorecard system and the three steps needed to implement these systems; identify challenges that need to be overcome; discuss indicators of successful systems; discuss time periods for a scorecard project; contrast the differences and similarities in scorecard systems for different organizations; discuss a typical BSC cycle.) 

  • Introduction to performance management and measurement
  • Definitions
  • Balanced scorecard 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 and public agency use of scorecards
  • Key questions the BSC seeks to answer
  • Sample BSC performance measures
  • The Nine-Step Methodology for building and implementing a balanced scorecard project
  • Meeting the challenges of scorecard systems
  • Indicators of successful projects

Module III. Building the Balanced Scorecard

 (Learning Objectives: Identify the six building steps -- Using an organization assessment to set vision, mission and strategy, Defining strategic themes, Choosing perspectives and developing objectives, Developing a Strategy Map, Defining performance measures, Developing Initiatives.

Case studies and examples will be selected from among several commercial, public sector and not-for-profit organizations that use the balanced scorecard for strategic management.

  • Using an organizational assessment to set vision, mission, and strategy
  • Identify customer groups and develop the Customer Value Proposition

DAY TWO

Module III. Building the Balanced Scorecard (Continued)

  •  Develop Strategic Themes and Strategic Results
  • Develop Strategic Objectives and strategic success drivers
  • Strategy mapping - develop cause-effect relationships among the objectives
  • Derive Strategic Performance Measures, Targets, and Thresholds

DAY THREE

  • Develop Strategic Initiatives
  • Define Criteria for Selecting Initiatives

 Module IV. Implementing the Balanced Scorecard

(Learning Objectives: Identify and understand the three implementation steps - Using computers to communicate performance information, Cascading the scorecard throughout the organization, and Using scorecard information to improve performance)

Examples will be selected from among several commercial, public sector and not-for-profit organizations that use the balanced scorecard for strategic management.

Software Demonstration: Performance Management Information Software options

  • Implementation issues
  • Aligning strategy and work throughout the organization
  • Collect, verify and validate performance data
  • Transforming data into information
  • Software options for managing performance information
  • Developing an internal and external communication plan
  • Cascading the scorecard throughout the organization
  • Employee motivation
  • Linking strategy to resource decisions
  • Linking performance to rewards
  • Scorecard roll out, training, and change management
  • Using performance information to improve organization performance

 Module V. Next Steps

(Learning Objectives: Understand the challenges of integrating balanced scorecard systems with other enterprise-wide systems; overcoming challenges to implementation)

Exercise: examine strategic change readiness in your organization.

  • Integrating the scorecard with other enterprise management systems
  • Integrating the scorecard with other enterprise information systems
  • Best practices

 Module VI. Getting Your Scorecard On Track

(Learning Objectives: applying the BSC to your organization's needs; discuss company-specific issues)

Exercise: Develop a scorecard action plan for your organization.

  • Overcoming obstacles and challenges within your organization
  • Integrating the scorecard with other enterprise management and information systems
  • The role of consultants
  • Time and schedule estimates
  • Develop an Action Plan based on your organization's readiness