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David's Books
Key Performance Indicators: Developing, Implementing, and Using Winning KPIs
Press Release | Get it from amazon.com | Electronic Templates | Reviews
Pareto’s 80/20 rule for corporate accountants
Press Release | Get it from amazon.com | Electronic Templates | Reviews
Oct
24
New White Paper: Conquest Management
October 24, 2008 | Leave a Comment
Conquest management - developing and using winning management practices’ by David Parmenter from the author of the ground breaking “KPI – developing, implementing and using winning KPIs” This major piece of work is issued as an extensive whitepaper with electronic templates to revolutionize your management career. The cost is NZ$299, see conquestmanagement.com for more information.
Oct
24
Articles and Books to read for Corporate Accountants
October 24, 2008 | Leave a Comment
Stephen Few
A must visit for all corporate accountants is Stephen Few’s company’s website where he has lodged many high quality whitepapers on the topic of graphical displays. Information Dashboard Design: The Effective Visual Communication of Data is his latest book, which is highly rated.
Jeremy Hope
Jeremy Hope is I believe the world’s foremost thought leader on corporate accounting issues. Jeremy was the first person to argue that the annual planning process had to go in his ground breaking work on beyond budgeting.
- Reinventing the CFO: How Financial Managers Can Transform Their Roles and Add Greater Value is a highly rated book.
- Beyond Budgeting: How Managers Can Break Free from the Annual Performance Trap
Jeremy’s articles of interest:
- Transforming the Bottom Line: Managing Performance With the Real Numbers
- Interview with Jeremy Hope: The Origins of Beyond Budgeting and of the Beyond Budgeting Round Table (BBRT)
- Beyond budgeting
- New Ways of Setting Rewards: The Beyond Budgeting Model
- Who Needs Budgets? (HBR OnPoint Enhanced Edition)
- Beyond Budgeting: Pathways to the Emerging Model
Jun
10
Extract from “Pareto’s 80/20 Rule for the Corporate Accountant” published by John Wiley & Sons Inc
Background
This sounds impossible yet it is achieved. It takes good organization and recognition that the annualplanning process is not adding value, instead it is undermining an efficient allocation of resources,encouraging dysfunctional budget holder behaviour, negating the value of monthly variancereporting and consuming huge resources from the Board, senior management team, budget holders,their assistants and of course the finance team. When was the last time you were thanked for theannual planning process? At best you have a situation where budget holders have beenantagonized, at worst budget holders who now flatly refuse to co-operate!
The future for your organization is quarterly rolling planning which is covered in section 3 in thebook. However, it will take upwards of nine months to implement and your annual planning cyclemay be just around the corner. This section will help develop the better practices that will be carriedover into quarterly rolling planning and forecasting.
Read The Full Article: Timely Annual Planning Process (PDF)
Jun
1
Most organizations know their success factors, however few organizations have:
- worded their success factors appropriately
- segregated out success factors from their strategic objectives
- sifted through them to find their critical ones – their CSFs
- communicated the CSFs to staff
Finding an organization’s CSFs is relatively simple step, and is the focus of this article. I want to show you a process that can be run in-house without the assistance of complex methodologies that only a “brain surgeon” can operate.
If your organization has not completed a thorough exercise to know its critical success factors performance measurement will be a random process creating an army of measurers producing numerous numbing reports, and who often “measure” progress in a direction very remote from the strategic direction of the organization.
This chaos needs to stop now! I will show you a process, which over a period of a couple of weeks, will crystallize and communicate the organization’s CSFs. This exercise may well leave a legacy in the organization that will be greater than everything you have done in the past.
May
26
Article: How to implement a balanced scorecard in 16 Weeks not 16 months
May 26, 2008 | Leave a Comment
Robert S. Kaplan and David P. Norton, in their groundbreaking work The Balanced Scorecard, indicate that 16 weeks is an adequate time frame to set up a Balanced Scorecard (BSC). Why then does 16 weeks so often become 16 months? And, if BSC processes have revolutionised organisations, why aren’t all organisations, with more than, say, 20 employees, using them?
I suspect the problem lies at the top, where the senior management team lacks understanding of, and commitment to, the BSC, and does not prioritise it. Many organisations make half-hearted attempts at implementing a BSC by fitting the project around other, often less important fire fighting activities.