Performance measurement is failing organizations worldwide, whether they are multinationals, government departments, or non profit agencies. The KPIs that have been adopted were dreamed up one day, without any linkage to the critical success factors of the organizations. The lack of understanding of performance measures has led most monitoring and reporting of measures to fail, including balanced scorecard initiatives. So many people are asking ““Are our Key Performance Indicators hindering rather than helping our organization?”
For years many organisations have used what they thought were KPIs but the measures have not had the impact management and the Board were seeking. KPIs themselves are mislabelled and misused. Organisations with over 20 KPIs lack focus, lack alignment and under achieve. In fact, there are normally less than 10 true KPIs in an organisation and these are measured and reported 24/7, daily, or at the outside weekly.
David Parmenter has written two books in this space. “Key Performance Indicators – Developing, Implementing and Using Winning KPIs” (2007, 2010) and “Key Performance Indicators For Government and Non Profit Agencies” (2012). This key note address represents a chance to catch up with the latest thinking on KPIs. David believes that there are four types of performance measures and thus choosing the right mix is crucial for effective measurement and control.
This keynote address will show you how to choose the right KPIs and will be useful for organisations regardless as to whether they have a balanced scorecard or not.
This session will cover:
- how performance measures are divided into four types: key result indicators, performance indicators, result indicators and key performance indicators
- why you need to know your organization’s critical success factors (CSF)
- the 10/80/10 rule for measures
- the performance myths that need to be challenged (Most measures lead to better performance, By tying KPIs to pay you will increase performance, KPIs can be measured monthly)
- useful reporting templates incorporating the thinking of Stephen Few
- how to brainstorm KPIs from your CSFs
David Parmenter is an international presenter who is known for his thought provoking and lively sessions, which have led to substantial change in many organisations. He has spoken in over 30 countries and in most continents in the world. Besides delivering in-depth workshops he has been a keynote speaker for the IBM Finance Forum, The World Capability Congress, TEC Malaysia, Profiles International Romania. David is a leading expert in: the development of winning KPIs, replacing the annual planning process with quarterly rolling planning, quick month-end processes and making reporting a decision based tool.
John Wiley & Sons Inc have published his four books, including “Winning CFOs: Implementing and Applying Better Practices”, “The leading-edge Manager’s guide to success – strategies and better practices” and “Key Performance Indicators – developing, implementing and using winning KPIs”.
David has also worked for Ernst & Young, BP Oil Ltd, Arthur Andersen, and Price Waterhouse. David is a fellow of the Institute of Chartered Accountants in England and Wales.
He has written over 50 articles for the accounting and management journals. He has won two ‘article of merit’ awards from the International Federation of Accountants. (2007 and 2009). His published articles titles include: “Quarterly rolling planning – removing the barriers to success”, “Throw away the annual budget”, “Beware corporate mergers”, “Implementing a Balanced Scorecard in 16 weeks not 16 months”, “Convert your monthly reporting to a management tool”, “Smash through the performance barrier”, “Is your board reporting process out of control?” “Implementing winning Key Performance Indicators”, “Quick month end reporting” “Conquest leadership- lessons from Sir Ernest Shackleton” etc.
CPD Hours: Up to 60 Minutes