Bernie
Did an Excel mistake cripple the world economy?
On 4 January 2010, in the Marriott hotel in Atlanta, two giants in the world of economics, Prof Carmen Reinhart and former chief economist of the International Monetary Fund, Ken Rogoff, were presenting their research paper, ‘Growth in a Time of Debt’. The headline message was clear and head-turning… When the size of the country’s…
The worst Excel user ever?
At the start of my career, I worked with someone who used to moan ALL the time about how terrible Excel was. After weeks of complaints, I decided to see if I could help, just to stop the complaining. I sat down next to him and quickly discovered he was using the ‘shapes and lines’…
Interviewing KPI Stakeholders and Subject Matter Experts
It is usually best to have a mixture of semi-structured interviews and stakeholder workshops. A semi-structured interview is one where you ask open questions and then listen carefully to the answers. When I conduct an interview I include: Introductions About you (the interviewer), who you are and why you are here. What your objectives are,…
Running KPI Stakeholder Workshops
KPI Stakeholder workshops are particularly useful when you are interested in gathering problem-related information or need to understand processes. Workshops are less suited to exploring more sensitive topics. Most of the steps are the same as for a semi-structured interview, although it is wise to dwell a bit less on the background of the participants…
Identifying KPI Stakeholders using RACI
Knowing who you need to talk to, gain agreement with or keep updated is central to implementing successful measures. Many management information projects fail because of political or communications problems. This makes it especially important that you clearly identify, document and manage your stakeholders. The first step is to identify who your stakeholders are. Stakeholders…
Engaging KPI Stakeholders – Communications
The challenge of managing change and complexity Because organisations are complex structures and the people within them are often anxious and busy, the ‘Engagement’ step is one of the easiest steps to mess up. Just working out who to talk to can be a serious challenge. Here are some key things you need to tackle…
What is the difference between a strategic objective and a mission statement?
There is a bit of a blurry line between mission statements and strategic objectives. Often clues to the strategic objectives are contained within a mission statement. Here are some notable vision/mission statements from history. Example: A grim mission statement General Motors: ‘GM is a multinational corporation engaged in socially responsible operations, worldwide. It is dedicated…
Choosing the best reporting tool for your KPIs
The chances are your preferred tool for managing your KPIs will be a spreadsheet. Whilst spreadsheets are a good solution for many, it’s worth remembering that there are alternative options for recording, displaying and managing performance data. For certain situations, one of these alternatives may be the best reporting tool for your organisation. Here’s a…
The definition mistake that cost $328m
One team, two measurement systems On December 11th 1998 NASA launched the Mars Climate Orbiter. The probe was designed to measure water distribution on the surface of Mars. 286 days after launch the $328 million probe arrived at Mars. It missed the correct orbit by 100km. The probe dipped into the atmosphere, overheating the engine…
