Balanced_Scorecard_for_universities_and_...

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Education

Published on January 9, 2009

Author: aSGuest9789

Source: authorstream.com

Accountability & Focus : January 9, 2009 1 Accountability & Focus Measuring Performance to create value Objectives of the Session : January 9, 2009 2 Objectives of the Session Introduce you to the Balanced Scorecard Provide a framework for your own use Provide an opportunity to discuss and gain consensus on our value proposition Begin to build an annual process for sharing ideas, measures and promoting IA through the CAUBO IA group Provide templates, ideas and tools The Balanced Scorecard : January 9, 2009 3 The Balanced Scorecard What is it? A tool to manage performance, create value and demonstrate accountability Why would we want to use it? Focus What gets measured gets done Alignment With each other With our Stakeholders/Customers’ needs Leadership Communication Tool Evidence of value Marketing tool To help IA members understand and align with the strategy Will it work? Proven success in both for profit and not for profit sectors The Canadian University’s Internal Audit Environment : January 9, 2009 4 The Canadian University’s Internal Audit Environment Environment of Higher Education is changing rapidly (article) Increasing risk More accountability Competition for students and funding Adopting a more Strategic View Shifting Demographics Internationalization BSC Framework for IA : January 9, 2009 5 BSC Framework for IA Financial How do we add value while ensuring sustainability? Customer Who are our customers and how do we create value for them? Internal Process At what processes must we excel to deliver value to our customers and key stakeholders? Learning & Growth How do we enable growth and change to meet ongoing customer demands? Vision: Mission: To help the institution accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes Customer : January 9, 2009 6 Customer Who are our customers and how do we create value for them? What is our value proposition? Value proposition = service attributes + image + relationship Customer : January 9, 2009 7 Customer Define Customer Groups Service attributes (Quality, Price, Time) Are we about our relationship, product/service? Identify basic requirements & differentiators Image Describe realistically Relationship Assess Partner? Collaborator? Opportunities? Value proposition = service attributes + image + relationship Internal Process : January 9, 2009 8 Internal Process At what processes must we excel to deliver value to our customers and key stakeholders? Product Timely reports Practical solutions Innovation Enabling Creative & Flexible Customer relationships Trusted Respected Learning & Growth : January 9, 2009 9 Learning & Growth How do we enable growth and change meeting ongoing demands? Softer side of things Human capital- capabilities required? Information capital – IT? Info required? Organizational Capital – Culture and climate necessary? Knowledge sharing Teamwork Goal alignment Culture Financial : January 9, 2009 10 Financial How do we add value while ensuring sustainability Enablers and constraints Cost control? efficiency? Risk management? Performance Measures : January 9, 2009 11 Performance Measures How will we know when we are successful? SMART Balanced Lead/lag Objective/subjective People/process Target Strategic initiative Responsibility Timing Balanced ScorecardExample : January 9, 2009 12 Balanced ScorecardExample CAUBO IA : January 9, 2009 13 CAUBO IA Next year Discuss progress with initiatives and key learnings Review our performance and the appropriateness of measures Share measurement tool issues and ideas

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