| Introduction | | | | achieving each of the objectives are intertwined. |
| My last article on revitalizing your performance | | | | A statement such as "decreased processing times |
| management solution (Part 3) discussed how to | | | | will lead to higher productivity and quicker delivery |
| develop a winning project plan. In this article, we | | | | time, which will result in higher client satisfaction" is |
| will start to discuss the initial steps to execute the | | | | an example that illustrates a series of cause and |
| performance management solution identified in | | | | effect relationships. |
| your project plan. | | | | Step 3-Develop Business Line Scorecard |
| Your performance management solution will be | | | | After the high-level strategy map is in place, I |
| based on the results of your organizational | | | | would present and validate this strategy map with |
| assessment. For illustration purposes, I am going | | | | the executive team in a workshop setting. During |
| to use the same hypothetical company as | | | | the workshop, I would ask the executives to |
| presented in Part 2 of this series. The results of | | | | articulate what success will look like once these |
| this company revealed that the information | | | | objectives are met. After determining what |
| generated from its current Corporate | | | | success will look like once the organization's |
| Performance Management (CPM) system was | | | | strategic objectives are met, you will have a good |
| mainly for reporting purposes, and not focusing on | | | | sense of what the executive performance |
| other performance management activities, such | | | | measures are. The strategy map along with the |
| as implementing/managing strategy, managing | | | | executive performance measures together form |
| day-to-day operations, and meeting its current | | | | part of the executive level scorecard. |
| business needs. | | | | Now that you have the objectives mapped out |
| Assuming you are responsible for the | | | | for the highest level of the organization, you will |
| development and the implementation for the | | | | want to hold another series of workshops with |
| performance management solution for this | | | | key managers across the organization to review |
| hypothetical company, your business case has | | | | the executive strategy map and measures. During |
| been approved and it includes the following | | | | these workshops, ask managers to describe the |
| proposed solutions:o An Executive level scorecard; | | | | objectives their business lines would need to |
| and,o Business Line scorecards linked to the each | | | | achieve in order for it to contribute to the |
| strategic objective included in the executive level | | | | executive strategic objectives. During the |
| scorecard. | | | | workshops, you will also want to ask managers to |
| In addition, you and your project team developed | | | | provide an example of how their business line |
| a project plan to develop, test and implement this | | | | might look if it met its objectives and how |
| solution. Now, it's time to execute what you have | | | | meeting these business line objectives would |
| planned. The rest of this article will discuss the | | | | contribute to the executive level objectives. Once |
| initial steps to execute the project plan using the | | | | you have completed these workshops, you will |
| hypothetical company as an example. | | | | have a good idea of the performance measures |
| Initial Steps in Executing your Project Plan | | | | to be used by the business lines. |
| Step 1-Determine the Organization's Strategies | | | | After these workshops are conducted, you will |
| Since the organization is not fully utilizing | | | | have the formation of an executive level |
| information to implement its strategy, the first | | | | scorecard along with the formation of branch level |
| step in executing your project plan will be to | | | | scorecards that are linked to each of the |
| determine what the organizational strategies are. | | | | executive objectives. |
| This can be achieved by reviewing the strategic | | | | Final Thoughts |
| objectives presented in the organization's business | | | | The secret in using this technique is to ensure you |
| and strategic plans and speaking with key | | | | ask managers and executives what success will |
| executives who can articulate and describe the | | | | look like once you achieved a particular objective |
| organization's strategies. | | | | and ask for an example. This is a quick and |
| Step 2-Develop the Executive Scorecard | | | | effective way to develop key performance |
| Once the review is complete, I would recommend | | | | indicators and, in one workshop, you can map out |
| that you use the information you gathered from | | | | the respective strategies and develop key |
| the executive interviews and the organization's | | | | performance indicators. Most initiatives take much |
| business and strategic plans to develop a high-level | | | | longer to complete both tasks. |
| strategy map. The strategy map should prioritize | | | | In the next article of this series, I will discuss how |
| the needs for the organizational objectives to be | | | | to set targets. |
| achieved in order for the organization to | | | | This performance management series is an |
| implement its strategies and the "cause and | | | | integral part of a book I am currently writing, |
| effect" relationship between each of these | | | | your comments and feedback about these |
| objectives. In this context, cause and effect | | | | articles would be much appreciated. |
| relationship implies that the contribution by | | | | |