Understanding Key Performance Indicators (KPIs)
Transforming finance training
Understanding Key Performance Indicators (KPIs).
Many businesses rely too heavily on budget management rather than KPIs to monitor their performance. Running your business based on numbers alone is like driving a car and only monitoring your petrol! Very soon you’re going to crash, or presuming you’re still looking at the road then you still need to check tyres, brakes etc in order to ensure that it works smoothly in the medium term.
A performance management and KPI system allows you to have a more holistic look at your business. However, KPIs can be a double edged sword as often people look to manage the indicator rather than the business.
We’ve designed a practical course looking at how to design KPIs and the key things to watch out for. The course will discuss some of the techniques and methodologies used by companies around the world.
Understanding KPIs – Learning Outcomes
- Appreciate why businesses use performance management systems
- The different types of performance measures
- Leading or lagging
- Financial or non financial
- What’s a KPI and how to develop effective ones
- Output vs outcome
- Risks of KPIs
- How big data may help or indeed make it worse!
Note: This course is part of the catalogue of courses we can offer within our Finance For Non Finance Managers (FFNFM) Training.