Formulating KPIs
“If you can’t measure it, you can’t manage or improve it.” That is the premise used to design this workshop, which uses an experiential approach to equip participants with the knowledge and skills to formulate robust, relevant KPIs (Key Performance Indicators) and directly cascade them from organizational strategy. Participants will also learn about KPAs (Key Performance Areas) and how they form the basis for extracting KPIs. Then, they will be introduced to the KPI ID card, a Meirc proprietary tool designed to audit each KPI on several robustness criteria. By the end of the workshop, participants will be competent in formulating KPIs, tracking them, and reporting them in a manner that adds value to all stakeholders.
PrerequisitesNone — open to managers at all levels
3 Days
2 Sessions
Starting from USD 1,500
Available Online
Course Methodology
The workshop relies on several experiential methodologies to ensure participants learn and apply what they learn during the workshop. To this effect, the workshop uses micro presentations and many individual and group activities that reinforce learning.
Course Objectives
By the end of the course, participants will be able to:
- Link strategy, Key Performance Areas, and Key Performance Indicators to maximize organizational alignment
- Use the cascading methodology to formulate a set of KPIs aligned with organizational or departmental strategy
- Use best practice criteria to increase the robustness of formulated KPIs, track and report them with ease
Target Audience
This workshop is ideal for strategy development, performance management, or measurement professionals. It will also benefit all managers accountable for performance, whether their own or that of their direct reports.
Target Competencies
- Strategic planning
- Cascading
- Goal and objective setting
- Performance management and measurement
- Performance tracking and reporting
Course Outline
- The Building Blocks of Organizational Strategy
- Extracting Critical Success Factors (CSFs) from organizational strategy
- Using CSFs to determine Key Performance Areas (KPAs)
- The criteria for reliable KPAs
- Using Key Performance Areas to Formulate KPIs
- A look at measures, metrics, and indicators
- The components of a robust KPI
- The 9-grid criteria
- The importance of formulas and units of measure
- The KPI ID Card
- The essential cells in a KPI ID card
- The common pitfalls in formulas and units of measure
- KPI controls: A non-negotiable component
- Tracking and Reporting Performance
- Hard versus soft KPIs
- Measuring client and employee Satisfaction
- The use of indexes to simplify tracking and reporting
- The Dow Jones and Saudi CMA examples
Face to Face Courses
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