Management Engineering concept of Balanced Scorecard

Course Code: MN24

Course Objective

  • 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

 

Target Audience
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.

 

Course 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


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Date & Location

Date : 17 March 2019

Duration : 5 days

Place : Kuala Lumpur

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Date : 18 August 2019

Duration : 5 days

Place : Istanbul

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Date : 20 October 2019

Duration : 5 days

Place : Jakarta

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