Rethinking Principles of Balance Scorecard: OKR vs KPI#101824

• Understand the traditional Balanced Scorecard framework and its limitations.
• Explore the concept of Objectives and Key Results (OKRs) and their application in performance management.
• Evaluate the strengths and weaknesses of different performance measurement frameworks, considering future trends.
• Develop a future-oriented approach to performance management that aligns with strategic goals.
• Design and implement a balanced performance measurement system using a combination of KPIs and OKRs.
• Communicate performance measures effectively to all levels of the organization.
• Track progress, analyse results, and make data-driven decisions for continuous improvement.
• Utilize future studies methodologies to anticipate potential challenges and adapt performance measurement systems accordingly.

• Business leaders, managers, and performance management professionals.
• Strategy and planning specialists seeking to optimize performance measurement.
• Anyone interested in understanding how to measure and track progress towards organizational goals.

• Pre-assessment
• Live group instruction
• Use of real-world examples, case studies and exercises
• Interactive participation and discussion
• Power point presentation, LCD and flip chart
• Group activities and tests
• Each participant receives a binder containing a copy of the presentation
• slides and handouts
• Post-assessment

Day 1: The Evolving Landscape of Performance Management & Future Considerations
• Introduction: Welcome and course overview.
• The Balanced Scorecard (BSC): A comprehensive review of the BSC framework, its components (financial, customer, internal process, and learning & growth perspectives), and its role in performance management.
• Emerging Trends & Limitations of BSC: Exploring the limitations of the BSC in a rapidly changing business environment and how future trends may necessitate new approaches.
• Introduction to Objectives and Key Results (OKRs): Understanding the OKR framework, its core principles, and its growing popularity in performance management.
• Case Study: Analysing a real-world example of a company that successfully transitioned from a BSC to an OKR system.
Day 2: Deep Dive into OKRs & Designing Effective Objectives
• Core Principles of OKRs: Understanding the key elements of OKRs (Objectives, Key Results, and Initiatives) and their interconnectedness.
• Benefits and Challenges of OKRs: Exploring the potential advantages and implementation challenges associated with OKRs.
• Crafting Compelling Objectives: Learning frameworks and best practices for developing clear, ambitious, and measurable objectives that align with future strategy.
• Cascading OKRs Throughout the Organization: Understanding how to effectively cascade OKRs from organizational to departmental and individual levels, ensuring alignment and focus.
• Workshop: Participants practice writing strong objectives using various frameworks and engage in discussions about aligning OKRs with future considerations.
Day 3: Developing and Aligning Key Performance Indicators (KPIs) with a Future Focus
• KPIs vs. Key Results in OKRs: Differentiating between Key Results in OKRs and traditional Key Performance Indicators (KPIs).
• Selecting the Right KPIs: Understanding the criteria for selecting relevant, measurable, achievable, relevant, and time-bound (SMART) KPIs considering future trends.
• Aligning KPIs with the Balanced Scorecard: Learning how to integrate KPIs from various BSC perspectives into a comprehensive performance measurement system alongside OKRs.
• The Future of Performance Measurement: Exploring how future studies methodologies can inform the selection and adaptation of KPIs to remain relevant in a dynamic environment.
• Case Study: Analysing a case study of a company that successfully integrated OKRs and KPIs into their performance management system.
Day 4: Implementing & Managing Performance Measurement Systems
• Effective Performance Communication: Developing strategies to communicate performance expectations and progress clearly throughout the organization.
• Data-Driven Decision Making: Learning how to effectively collect, analyse, and utilize performance data to inform decision-making and course correction.
• Performance Reviews & Feedback: Understanding how to integrate OKRs and KPIs into performance reviews and provide constructive feedback for improvement.
• Managing Performance Challenges: Developing strategies for addressing performance issues and fostering continuous learning within the organization.
• Workshop: Participants create a sample performance dashboard that integrates OKRs and KPIs and practice communicating performance data to stakeholders.
Day 5: The Future of Performance Management & Continuous Improvement
• Adapting Performance Management for Future Challenges: Utilizing future studies methodologies to identify potential challenges and opportunities in the performance management landscape.
• Building a Culture of Continuous Improvement: Understanding the importance of fostering a culture that values continuous learning, adaptation, and improvement in performance.
• The Future of Work & Performance Measurement: Exploring how future trends like remote work and automation may impact performance management practices.
• Course Wrap-Up & Action Planning: Reviewing key takeaways from the course, addressing any remaining questions, and discussing ongoing learning and support resources.
• Action Planning: Participants develop personalized action plans outlining steps to implement a future-oriented performance management system that incorporates a combination of OKRs, KPIs, and considerations from future studies methodologies within their organizations.