Leading IT Transformation – Workshop 4 (Key Performance Indicators)

Appleton Greene

The Appleton Greene Corporate Training Program (CTP) for Leading IT Transformation is provided by Ms. Drabenstadt MBA BBA Certified Learning Provider (CLP). Program Specifications: Monthly cost USD$2,500.00; Monthly Workshops 6 hours; Monthly Support 4 hours; Program Duration 24 months; Program orders subject to ongoing availability.

If you would like to view the Client Information Hub (CIH) for this program, please Click Here

Learning Provider Profile

Appleton Greene

Ms. Drabenstadt is a Certified Learning Provider (CLP) at Appleton Greene and she has experience in Information Technology, Information Governance, Compliance and Audit. She has achieved an MBA, and BBA. She has industry experience within the following sectors: Technology; Insurance and Financial Services. She has had commercial experience within the following countries: United States of America, Canada, Australia, India, Trinidad, and Jamaica. Her program will initially be available in the following cities: Madison WI; Minneapolis MN; Chicago IL; Atlanta GA and Denver CO. Her personal achievements include: Developed Trusted IT-Business Relationship; Delivered Increased Business Value/Time; Decreased IT Costs; Re-tooled IT Staff; Increased IT Employee Morale. Her service skills incorporate: IT transformation leadership; process improvement; change management; program management and information governance.

Appleton Greene Global

MOST Analysis

Appleton Greene

Mission Statement

More and more companies are adopting IT transformation and leveraging technology to improve every aspect of their business. As a company begins to implement and develop these tech solutions, IT leaders will have to be able to show the results of these changes. Tech leaders must be able to demonstrate the tangible business impact of IT transformation to their executive team, stakeholders and customers. KPI stands for key performance indicator, a quantifiable measure of performance over time for a specific objective. KPIs provide targets for teams to shoot for, milestones to gauge progress, and insights that help people across the organization make better decisions. From finance and HR to marketing and sales, key performance indicators help every area of the business move forward at the strategic level. It is critical that IT organizations and their business stakeholders set up Key Performance Indicators that align with new organizational goals.

Appleton Greene

Objectives

01. Sustainability Metrics: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
02. User Lifetime Value; departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
03. Operational Improvement; departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
04. Revenue from New Digital Services; departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
05. Hours Saved & Efficiency; departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
06. ; departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
07. Workforce Productivity: departmental SWOT analysis; strategy research & development. 1 Month
08. Cloud Application Deployments: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
09. Focus on Innovation: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
10. Outbound Marketing: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
11. Team Morale: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
12. Risk Factors: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month

Appleton Greene

Strategies

01. Sustainability Metrics: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
02. User Lifetime Value: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
03. Operational Improvement: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
04. Revenue from New Digital Services: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
05. Hours Saved & Efficiency: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
06. Customer Experience: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
07. Workforce Productivity: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
08. Cloud Application Deployments: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
09. Focus on Innovation: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
10. Outbound Marketing: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
11. Team Morale: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
12. Risk Factors: Each individual department head to undertake departmental SWOT analysis; strategy research & development.

Appleton Greene

Tasks

01. Create a task on your calendar, to be completed within the next month, to analyze Sustainability Metrics.
02. Create a task on your calendar, to be completed within the next month, to analyze User Lifetime Value.
03. Create a task on your calendar, to be completed within the next month, to analyze Operational Improvement.
04. Create a task on your calendar, to be completed within the next month, to analyze Revenue from New Digital Services.
05. Create a task on your calendar, to be completed within the next month, to analyze Hours Saved & Efficiency.
06. Create a task on your calendar, to be completed within the next month, to analyze Customer Experience.
07. Create a task on your calendar, to be completed within the next month, to analyze Workforce Productivity.
08. Create a task on your calendar, to be completed within the next month, to analyze Cloud Application Deployments.
09. Create a task on your calendar, to be completed within the next month, to analyze Focus on Innovation.
10. Create a task on your calendar, to be completed within the next month, to analyze Outbound Marketing.
11. Create a task on your calendar, to be completed within the next month, to analyze Team Morale.
12. Create a task on your calendar, to be completed within the next month, to analyze Risk Factors.

Appleton Greene Global

Introduction

Appleton Greene

What is a KPI?

The term “key performance indicator” refers to a measurable measure of performance over time for a specified goal. KPIs give teams with goals to strive towards, milestones to track progress, and insights to help everyone in the company make better decisions. Key performance indicators assist every element of the organization, from finance and HR to marketing and sales, move forward at a strategic level.

KPI Meaning vs Metrics Meaning

While key performance indicators and metrics are similar, they are not interchangeable. Here’s a basic rundown:

• KPIs are key performance indicators that you should monitor in order to have the most influence on your strategic business goals. KPIs help your team focus on what’s important and support your strategy. “Targeted new customers per month” is an example of a key performance indicator.

• Metrics track the success of day-to-day operations that support your KPIs. They have an impact on your results, but they aren’t the most important ones. “Monthly store visits” or “white paper downloads” are two examples.

Why Are KPIs Important?

KPIs are a vital approach to ensure that your teams are supporting the organization’s overall goals. Here are a few of the most important reasons to use key performance indicators.

• Keep your teams aligned: KPIs keep teams on track, whether they’re assessing project success or employee performance.

• Provide a health check: From risk concerns to financial indicators, key performance indicators give you a true picture of your company’s health.

• Make adjustments: KPIs allow you to easily see your achievements and shortcomings, allowing you to focus on what works and less on what doesn’t.

• Hold your teams accountable: Ascertain that everyone contributes value by establishing key performance indicators that allow employees to track their development and supervisors to take things forward.

Appleton Greene

Types of KPIs

There are many different types of key performance indicators. Some are meant to track monthly progress toward a goal, while others are more long-term in nature. All KPIs have one thing in common: they’re all linked to strategic objectives. Here’s a quick rundown of some of the most prevalent KPIs.

• Strategic: These big-picture KPIs keep track of the organization’s objectives. Executives often use one or two key KPIs to determine how well the company is performing at any particular time. Return on investment, sales, and market share are only a few examples.

• Operational: These KPIs are focused on organizational procedures and efficiencies and often measure performance in a shorter time frame. Sales by area, average monthly transportation costs, and cost per acquisition are just a few examples (CPA).

• Functional Unit: Many KPIs are linked to specific functions, such as finance or information technology. Finance KPIs track gross profit margin or return on assets, whereas IT KPIs might track time to resolution or average uptime. These functional KPIs can also be classified as strategic or operational.

• Leading vs Lagging: You should understand the difference between leading and lagging indicators regardless of the type of key performance indicator you establish. While leading KPIs can aid in the prediction of outcomes, lagging KPIs are used to track what has already occurred. Organizations employ a combination of the two to make sure they’re tracking the most important information.

How to Develop KPIs

It’s tempting to measure everything—or at least the things that are easiest to measure—with so much data. However, make sure you’re just tracking the key performance indicators that will help you achieve your business objectives. One of the most significant parts of the KPI definition is the strategic focus. Here are some guidelines for creating effective KPIs.

1. Determine how KPIs will be used: Consult with those who will be utilizing the KPI report to learn what they hope to achieve and how they intend to use them. This will assist you in defining KPIs that are useful and relevant to business users.

2. Connect them to strategic goals: You’re wasting time if your KPIs have nothing to do with what you’re attempting to accomplish in your firm. While each key performance indicator may be related to a single business function such as HR or marketing, they should all be linked to your overall business objectives.

3. Write SMART KPIs: The most effective KPIs adhere to the tried-and-true SMART formula. Ascertain that they are Specific, Measurable, Attainable, Realistic, and Time-Bound. Some examples include “Grow sales by 5% per quarter” or “Increase Net Promoter Score 25% over the next three years.”

4. Keep them clear-cut: Everyone in the company should be aware of your KPIs and be able to act on them. This is why having a good understanding of data is so vital. People who know how to work with data are better able to make decisions that move the needle in the right direction.

5. Plan to iterate: You may need to adjust your key performance indicators as your business and consumers change. Perhaps some are no longer applicable, or you need to make adjustments based on performance. Make sure you have a process in place to evaluate key performance metrics and make changes as needed.

6. Avoid KPI overload: Organizations now have access to massive amounts of data and interactive data visualization, making it simple to measure anything and everything. Keep in mind that the definition of a key performance indicator refers to the most critical goals. Avoid KPI overload by concentrating on the most important metrics.