Search results for:davidparmenter.com

Need a new search?

If you didn't find what you were looking for, try a new search!

Waymark Solutions has moved to DavidParmenter.com

David Parmenter’s 10 steps to survive then thrive post COVID 19

For those businesses old enough to remember the 2001-02 (Dotcom bubble burst) and the 2007-08 (loan default crisis) there will be an institutional memory about how important cash was.  With the Post COVID 19 recovery, you can ratchet up the importance of cashflow, I believe, by three or four times.

In the previous crises we did […]

David Parmenter’s guide to the wisdom from the greatest management thinkers

Peter Drucker’s Lessons for Performance Management
Focus on your noncustomers
Which of your noncustomers should you be doing business with? (Desirable potential customers). Only Drucker could coin a phrase, “non customers”, yet it gets right to the heart of the fundamental issue. Every private sector government and not-for-profit organisation is missing customers it should be servicing. This […]

David Parmenter’s 12 tips to better recruiting

In every workshop, I ask one question, “Who has made a recruiting decision they have lived to regret?” Every manager puts his or her hand up. The carnage caused is relived in their facial expressions. Why does this happen so often?

Recruitment should be the most important activity a manager ever does. It should be the […]

30 Ways To Improve Accounts Payable Form

Rapid year-end accounts Form

Understand the five stages of a crisis – part of a COVID 19 Survival Kit for SMEs

In my servant leadership paper I talked about The Eight Behaviour Traits of Great Leaders

It is my belief that many leaders fail, when managing enterprises, because some of the eight behaviour traits that needed to be in their DNA were absent.  They may have been successful managing smaller teams because their flaws not fully exposed.

I believe, […]

The three Ts of delegation

These three different observations led me to believe that time management, trust and training were at the core of delegation. Delegation being the “transfer of responsibility for the performance of an activity from one person to another with the former retaining accountability of the outcome” as described in a medical manual.
Time management
is so important as […]

Free Media for KPI Book Owners – Fourth Edition

40+ Rules to Get Your KPIs To Deliver

Category
Wisdom

About KPIs
1.      There are four types of performance measures and thus it is a myth to consider all measures are KPIs.

About KPIs
2.      Key performance indicators (KPIs) are those indicators that focus on the aspects of organizational performance that are the most critical for the current and future success of the organization.

About KPIs
3.      KPIs have seven characteristics

About KPIs
5.      If the CEO, members of the senior management team, and management focus on the KPIs every day, staff will naturally follow suit.

About measures
6.      An organization, with over 500 FTEs, will have about 10 KRIs, up to 80 RIs and PIs, and 10 KPIs.

About measures
7.      Lead and lag labelling of measures is misleading

About measures
8.      Have a mix of 60% past, 20% current and 20% future orientated measures

CSF
9.      The main purpose of performance measures is to ensure that staff members spend their working hours focused primarily on the organization’s critical success factors.

CSFs
10.   To create alignment between teams in an organization, it is important that there be only one set of between five and eight critical success factors (CSFs) for the organization.

CSFs
11.   To ensure that staff live and breathe them, a poster of the CSFs should be prepared and be widely seen around the work environment.

Designing measures
12.   In order for staff to help the KPI team to determine measures, we need to train everybody in the rules for designing measures.

Designing measures
13.   Designing and refining measures needs a systematic and well thought through process to ensure that the measures will promote the desired actions.

Designing measures
14.   The CEO needs to make it clear that no measures are to be introduced without the KPI team approval.

Designing measures
15.   Vet measures by holding an open session where staff members are invited to share their views on the shortlisted measures displayed on the walls of the KPI project room (known as a performance measures gallery).

Engagement
16.   The KPI project needs to report its wins to the SMT each week to maintain their interest in the project.

Engagement
17.   Staff need to be first trained in the new thinking of what are KPIs, why not all measures are KPIs, the four different types of measures, and the importance of an organization knowing their CSFs.

KPI project
18.   The success of a KPI project rests with trained home-grown staff who have been reassigned so that they are full time on the project.

KPI project
19.   For SMEs the in-house KPI team leader must have at least half the daily operational activity reassigned so that the incumbent has a chance to focus and create some momentum in the KPI project.

KPI project
21.   The KPI team should report directly to the CEO

KPI project
22.   The CEO needs to locate an external facilitator to mentor the in-house KPI team.

KPI project
23.   The external facilitator and the KPI project leader need to instil a “just-do-it” culture

KPI project
24.   Success or failure of the KPI project is determined by the presence or absence of the seven foundation stones

KPI project
25.   No KPI project will ever succeed without a guiding coalition of oracles behind it.

KPI project
26.   Delivering compelling PowerPoint Presentations is a skill that the KPI team will have to have mastered before they deliver any presentations or workshops.

KPI project
27.   The CEO must be the central driver, carrying around the embryonic KPIs all the time, talking about their importance frequently to all staff they meet.

KPI project
28.   The KPI project proposal presentation will be one of the most important presentations in the KPI TEAM leader’s working life.

KPI project
29.   Management will need to abandon projects, processes and reports to make time for the KPI project.

Maintaining interest
30.   For organizations with fewer than 500 staff, a total KPI rollout in 16 weeks is achievable.

Maintaining interest
31.   For SMEs with 100- 250 staff, a total KPI rollout in 10 weeks is achievable.

Maintaining interest
32.   For SMEs with less than 100 staff, a total KPI rollout in 6 weeks is achievable.

Ongoing training
33.   The KPI team will need to develop training programs so new staff can be educated in CSFs, the four types of measures and how measures are reported.

Reporting
34.   A KPI provided to management that is more than a few days old is useless.

Reporting
35.   At least half of the KPIs should be reported each day, (electronically) at 9 A.M. or constantly updated 24 hours a day, seven days a week.

Reporting
36.   The board should only receive a one-page governance dashboard on the five to eight KRIs.

Reporting
37.   There is a science behind what makes data displays work. The expert in this field is Stephen Few.

Reporting
38.   Spreadsheets have no place in performance measure reporting.

Reporting
39.   Using a monthly icon-based report for staff is a good idea because they tell staff what is good, what is adequate, and what needs to be improved without giving away confidential data.

Reporting
40.   Because the board’s role is clearly one of governance and not of management, it is totally inappropriate to be providing the board with KPIs.

Reporting
41.   Typically, a board would need to see, in there one-page dashboard, between 9 and 12 graphs covering the critical success factors and outcome statements.

Reporting
42.   The KPI reporting system will fail if the review process relies on structured, monthly meetings because KPIs are indicators that need monitoring, reporting, and action 24/7.

Roadblocks
43.   Be aware of the current perception of performance measurement within the organization.

Source: Extracted from
Key Performance Indicators – developing, implementing and using winning KPIs (4th Edition)