Friday, August 13, 2004

Tricks for CPM / Scorecard implementations

Here I'm starting a Blog with dirty tricks how you can increase the speed of acceptance of Corporate PM or Balanced Scorecard Implementations.
The first amazing one I found here: An oil company runs oil platforms in the North Sea. It had implemented a dashboard that was designed to help users on the platform to monitor their performance. The only problem was that these guys were used to doing things their way and weren't much interested in this newfangled method. So they weren't using the dashboard, which in turn meant that the company wasn't getting the feedback it needed if its Performance Management initiative was to succeed.

How to resolve this problem? A little bit of lateral thinking later and the company opened up a 'book' that allowed users to place bets on their performance. as measured by the dashboard. Take up has been such that not only are the dashboards now being used, and the PM system steaming ahead, but the company is also making money as a quasi-bookmaker! Hahaha...

Who else has a good implementation tip or trick? Make a Comment!

Thursday, August 05, 2004

Forward-looking PM

Thanks to the kind cooperation of Strategy and Finance Magazine, I got permission to publish a very good article by Anthony L. Politan on Taking PM to the Next Level on Value Based

As Politan explains:
When you're driving, you only glance into the rear-view mirror because, if you stare too long, you just might crash. Many businesses today are spending way too much time looking in the rear-view mirror at the road they've traveled by focusing on historical PM methods. A few leading companies, however, are applying many of the basic principles and technology of historical PM methods to forward-looking PM. This new trend is scenario-based planning, and it concentration on the future rather than on what has already happened.

By generating multiple what-if scenarios using data you already have and applying PM as if the scenarios were actual situations, you can take PM to the next level. The result: You can integrate optimal what-if scenarios with traditional budgeting and planning systems to change faster than industry norms and increase your organization's competitive advantages.

Check it out...