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Online Training: Performance Metrics: How to Select Them, Adjust Them, and Tie Them Into Your Strategy

A CD-ROM training course produced by IndustryWeek, in partnership with BMGI

Date: This webinar is now available On-Demand.
Event Type: On-Demand Webinar
Cost: $199 on CD-ROM

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Although many companies claim to have a performance management system, the majority of them don't benefit from it. Why?

Most people don't know if they are looking at the right data in the first place. Or even if they are, is the data good, clean, and representative? When all you want is data because having it makes you feel good, then metrics are more like a drug than a reliable decision driver.

Metrics are intended to support decisions, not become a substitute for them! Often companies start with metrics and try to divine information from them. However, metrics need to be designed with a higher meaning in mind -- understanding the decisions people make.

This 4-hour training CD-ROM will give you an in-depth look at the often confusing and misunderstood world of performance metrics. You'll learn the truth about metrics, and how an effective performance measurement system can help you make better decisions. You'll learn:

Why metrics are central to your business success

    The breadcrumbs that lead you to solutions for your problems
    Helping a company operate to established success parameters, but also providing a path to future goals

How to establish meaningful metrics and carry them through your strategy

    How to select proper metrics, how to tie them back to your strategic intent, and how to make adjustments when appropriate
    How to build true decision drivers instead of pushing measures that provide only temporary moments of euphoria

You'll also learn about the most common errors people made when selecting metrics, and you'll gain new ideas around how metrics can be visualized better.

Key learning points:
Upon completion of this CD-ROM course, you will be able to:

    Understand the purpose of process management
    Analyze an existing metric system
    Create well designed metrics that support strategy
    Steer away from some of the classic pitfalls of metric development

Course agenda:

1. Why do we need a metrics-based performance management system?
2. Understanding how a measurement framework informs our decisions on what leads to organizational success.
3. What is a good performance metric?
    a. The different types
    b. Proactive versus reactive
4. How to evaluate your existing metrics
5. Selecting the right metrics
    a. How many is too many?
    b. Who should do the picking?
    c. How to make measures more predictive and productive
    d. The different levels of metrics
6. Common problems in metric selection
7. Connecting actions to strategy through good metrics
8. Understanding the difference between breakthrough objectives and daily management key performance indicators
9. The 4 big mistakes of measuring performance
    a. Not linking the metrics to the strategy
    b. Not verifying the connection between measurements and performance
    c. Selecting incorrect performance measures
    d. Using invalid or unreliable metrics
10. How to display metrics in a meaningful way
    a. Utilizing dashboards
    b. Graphical representations
    c. Adding dimensionality

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You will receive the 4-hour training session on CD-ROM, featuring slides and audio.

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Wes Waldo
Chief Operating Officer

William "Wes" Waldo is a disciplined, organized and highly respected leader. As BMGI’s Chief Operating Officer, he leverages more than 15 years of quality, operations management and process improvement experience as he strives for perfection in BMGI's sales, marketing and internal processes. Wes' appointment as COO follows many years as a Lean master consultant, Lean product manager and nearly two years as practice leader for BMGI’s manufacturing team. A respected authority in his field, he co-authored the manual A Team Leader's Guide to Kaizen Events, and contributed to The Complete Idiot’s Guide to Lean Six Sigma and The Innovator’s Toolkit. Wes enjoys working with a wide variety of organizations from healthcare to high-end technology manufacturing, especially in the development of their strategic planning.

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TAGS: Webinars