Benchmarking Your Performance & Making Continuous Improvements
Course Info
Code MG2-122
Duration 5 Days
Format Classroom
Course Summary
Benchmarking your profits, processes, and procedures is a practice widely used in all industries to determine whether your growth and change management is heading in the right direction to increase performance, productivity and ultimately, the success of the business.
Benchmarking can happen in a variety of ways, including against competitors if the analytics are available, but also against previous years within the same business to monitor improvements. It’s also standard practice to reach out to customers, clients, and stakeholders to understand their opinions on the service or products that you offer to create an accurate picture of change and how the business has developed over time.
Benchmarking is an incredibly valuable tool to understand where you are in your field in comparison to other businesses, helping you to develop your own practices and a USP that works for your target audience. It’s also the birthplace of innovation, where business owners and leaders can understand what’s not working and make changes to head in a different direction where necessary.
- To understand the benefits that benchmarking has to your business.
- To differentiate the different types of benchmarking and how to utilise them.
- To develop an understanding of accurate data sources, metrics, and analysis tools.
- To determine which kinds of data are best used to create an accurate picture in different scenarios.
- To apply the correct methodologies to specific scenarios to create innovative outcomes.
- To design future-proofing change ideas to move with changing technologies and culture.
- To analyse changes and determine where there may be risk areas.
- To recognise mistakes and rectify methods to improve performance.
- Business Owners
- Directors
- Operations Managers
- Change & Control Managers
- Project Planners
- IT Leaders
- Supervisors
- HR Professionals
- Finance Professionals
- HSE Leaders
- Quality Managers
This course uses a variety of learning styles to ensure maximum understanding. Participants will view presentations and take part in interactive discussions regarding benchmarking techniques and their varied benefits.
They will then discover how to apply tools and changes within their own organisation through group discussions and practical activities regarding data collection and risk identification. They will be presented with real-world cases to understand how to make changes and developments to performance successfully through process modification, employee training, and technology updates in order to stay profitable and ahead of their direct competition.
Course Content & Outline
- Measuring performance of systems, staff, and projects.
- How performance monitoring can help with your future.
- Performance against profits.
- How Key Performance Indicators (KPIs) Work.
- Understanding the Metrics that You Aim to Measure.
- The History of Performance Measurement.
- Using Benchmarking to grow, develop, and transform.
- Benchmarking terminology.
- Understanding strategic, performance, and process benchmarking and change implementation.
- How to determine the most appropriate benchmarking approach.
- Identification of most appropriate benchmarking projects.
- Understanding how minor changes can make a big difference - the 80/20 method.
- Creating Lean processes.
- How to plan out a project based on benchmarking.
- Benchmarking maps and analysis.
- Gaining buy-in from teams surrounding change.
- Project plan phases and implementation.
- Metrics based on competitors, employees, and customers.
- Project management and measurement against KPIs.
- How to roll back a change that hasn't worked.
- Data usage and data abuse - how to use your figures ethically and constructively.
- Key stats and where to find them.
- Standard deviation and variance and their importance.
- CATWOE and RCA.
- The 5 whys and their cause and effect.
- Collecting accurate information.
- Histograms and run charts.
- Internal vs. external benchmarking.
- Benchmarking against competitors.
- Benchmarking against previous years.
- Feedback from internal and external sources.
- Profit and loss benchmarking.
- Identifying pain points in the process and organisation.
- Journey mapping.
- DMAIC and Six Sigma
- Poka-Yoke approach.
- Auditing and accurate record keeping.
- Revisiting areas for business continuity.
- Understanding profit margins against change.
- IT back up and system repair.
- Personal action planning.
- Legal and ethical issues and how to meet your obligations.
- Kaizen and continuous improvement.
- Project tracking and change requirements.
- Feedback and development.
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