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What you'll learn?
- Why we measure performance
- The benefits of performance measurement
- The dangers of targets
- The Three Levels of Performance Measure
- The Performance Measurement Linkage Chart
- What makes a good measure?
- A starter set of performance measures
- The Voice of the Process versus the Voice of the Customer
- The Nature of Variation
- Displaying Performance Data
- The Shewhart Individuals Control Chart
- Strategies for dealing with variation
- The relationship between process behaviour and cost
- Engaging your people in performance measurement
Performance measurement is the act of monitoring progress towards specified objectives. It has two main purposes:
1. To monitor progress towards goals
2. To guide improvement activity where performance is not meeting the goals
Performance measures are like the mileposts on the path towards our goals. They tell us how far we have come; how far we still have to go; and whether, indeed, we are going in the right direction.
But performance measurement is not easy. Choosing inappropriate measures can result in unintended consequences, with detrimental outcomes. At the same time, the outputs of many processes are intangible and difficult to measure.
The only solution is to take a structured approach to the design of performance measures that involves stakeholders, customers and users to clearly define agreed outcomes, and then measure performance against those outcomes.
This course provides a structure that you can use to develop a framework of performance measures throughout your organisation. The course also covers how to analyse and present performance data in order to reveal valuable information about the behaviour of the organisation’s processes and activities. And the course covers ways of engaging employees with the measures and working towards business improvement.
- There are no pre-course requirements
- Finance Professionals
- Accountancy students
Curriculum 12 Lectures 01:26:22
Section 1 : Performance Measurement
- Lecture 1 :
An overview of performance measurement with the agenda for this course.
- Agenda for the Course Preview
- Lecture 2 :
Some examples of performance measurement and the reasons why we need to measure performance.
- Why do we Measure Performance?
- Lecture 3 :
Introducing the Performance Measurement Linkage Chart
- Linking Performance Measures through the Organisation
- Lecture 4 :
An example of the use of the Performance Measurement Linkage Chart
- Example Performance Measurement Linkage Chart
- Lecture 5 :
The characteristics of a good performance measurement including a starter set of performance measures
- What makes a good measure?
- Lecture 6 :
Presenting performance data as a time series in order to review performance and identify areas for improvement
- Interpreting Performance Data
- Lecture 7 :
An example using performance data to highlight issues
- Performance Data Example
- Lecture 8 :
How to deal with both Common Cause Variation in a business process and Special Cause Variation
- Strategies to deal with Variation
- Lecture 9 :
How to gain the buy-in of staff to performance measures to ensure their effective use
- Embedding KPIs in an Organisation
- Lecture 10 :
Key learning points from this course
- Final thoughts on Performance Measurement
Section 2 : Performance Measurement Exercise
- Lecture 1 :
An exercise to help you develop performance measures for your organisation
- The Performance Measurement Exercise
- Lecture 2 :
The Test your Understanding multiple choice quiz
- Test your Understanding
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