About this course

This course lays the foundation for developing an asset management (AM) scorecard.

Over the course of seven topics, it explains performance measurement terms and concepts, such as objectives, key performance indicators (KPIs), leading and lagging indicators, PDCA cycle (plan, do, check, act), and data versus information.

It then provides a framework for a “balanced AM scorecard” and discusses the use of benchmarking for setting targets.

Finally, it emphasises the identification of forums where KPIs can be discussed and action taken in line with the PDCA cycle, providing a template for a measurement plan.

 

Outcomes

At the end of this course learners will be able to:

Explain the reasons for measuring business performance and acting on the results

Explain the different terms and concepts related to performance measurement

Identify measures for performance, work management, reliability, process, cost, risk and people

Select measures for an organisation, department or team, and structure them into a balanced scorecard

Explain how to deploy tactical KPIs and targets to an operational level, ie the relevant organisational department and teams

Select appropriate measures tailored to individuals, contractors, assets, projects and other relevant areas to effectively manage the
organisational function

Implement measures by identifying data sources, processing and visualising the data, and creating reports tailored to the target audience

Use benchmarking effectively to set SMART improvement targets

Identify the right forums and mechanisms to review KPIs and drive improvements

Have a sense of how to react to certain measures, enforced through practical case studies

Measuring and Managing Performance - Course Content

Measurement Purpose, Terms and Concepts

This module explores the importance of measuring business performance and using the results to drive improvements. It introduces a variety of key terms and concepts related to performance measurement, providing a foundation for analysing and enhancing organisational effectiveness, and a clear understanding of how businesses assess success and make informed decisions.

Typical Measures

This module examines key performance measures across different business areas, including production and asset performance, work management, reliability, processes, cost, risk and people. It provides insight into how organisations can apply these metrics to various aspects of business operations to assess and improve overall business performance.

How to Measure

This module focuses on the practical application of performance measurement through the construction of a balanced scorecard. Learners explore how to effectively measure the performance of organisations, departments, teams, individuals, contractors, assets, projects and functions (audits) to drive continuous improvement and strategic decision-making.

Operationalising the KPIs

This module provides a practical approach to developing actionable key performance indicators (KPIs) from various data sources. Learners explore techniques for processing and visualising data effectively, creating insightful reports, and ensuring data accuracy to drive effective performance measurement and decision-making.

Performance Management and Review

This module discusses how to effectively manage and evaluate performance using KPIs and other measurement tools. Participants learn best practices to ensure that measures and KPIs are reviewed by the appropriate individuals and teams. The module unpacks how to use benchmarking effectively to set SMART (specific, measurable, achievable, relevant, time-based) improvement targets and limits. It further explores how to react to certain measures by making informed decisions based on data insights.

Activity - Let's Get Practical

In this module, learners engage in practical activities to apply some of the skills they have learnt in this course. In the two group activities, learners discuss problem-solving topics in their group, then share their answers with the other groups, with guidance from the facilitator.

Closing and Assignment

In this final module, participants round off what they have learnt in the course with an assignment that will evaluate their understanding of the subject matter.

Learning journey

 

Who should attend?

  • Management
  • Production managers / supervisors
  • Engineering managers / supervisors
  • Engineers
  • Project managers
  • Maintenance supervisors / foremen
  • Maintenance planners and schedulers

Format and duration

  • 16 Notional hours
  • Virtual instructor-led training or classroom training
  • Note: Learners will need individual laptops for this training course.

Take-home tools

  • KPI template
  • KPI measurement plan
Request a call to discuss in-house or customised training.
This practical course will enable learners to manage their environment better, equip them with skills to identify appropriate measures they can use, and teach them how to deploy and use these in their environment.

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    All registrations received are regarded as confirmed and subject to the following:

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    • Pragma reserves the right to cancel any advertised course due to insufficient enrolments or conditions beyond our control.