Performance Management

It’s not easy to motivate someone to be their best. What are your strategies for achieving peak performance? How do you create a motivating workplace where individuals want to give it their all? How do you assess and manage the performance of your team? This one-day session will prepare you and give you the tools you need to master those critical abilities. This Certified Performance Management Professional course focuses on the principles of performance management that lead to successful and efficient organizational performance. By developing the next generation of performance specialists, this course will give a strong foundation in deploying performance management. They will serve as the foundation for the organization’s success. Managing employee performance makes it easier to achieve strategic and operational objectives. There is a direct link between the use of performance management programs and better company and organizational outcomes. For managing and evaluating employees, developing their abilities, and improving organizational performance, having a valid but effective performance management system is critical. The goal of performance management is to increase individual, team, and organizational performance. It creates a culture in which individuals and groups are held accountable for the ongoing improvement of business processes as well as their own abilities and contributions. Furthermore, this knowledge of performance will aid you in comprehending, establishing, activating, reporting, and generating value through the use of KPIs across the firm. You will obtain theoretical knowledge as well as practical experience with a number of performance management tools and strategies after finishing this course.

Skills You Will Master:

• Direct Labor Variance – In this course you will learn the labor rate variance focuses on labor wages and is defined as the difference between actual direct labor expenses and budgeted costs based on industry standards.
• Direct Material Variance – In this section we will see the variation between the standard cost of materials generated from production activities and the actual expenses incurred is known as the direct material variance. Two other variances make up the direct material variance.
• Management by Exception – In this section we will see that management by exception is the technique of analyzing a company’s financial and operational outcomes and only bringing issues to management’s attention if the results differ significantly from what was budgeted or expected.
• Transfer Pricing – In this topic we will see that transfer pricing is the value which is attached to the goods or services transferred between related parties.
• Performance Measures – In this section we will learn data-driven performance measurements convey whether an activity is meeting its objectives and making progress toward policy or organizational objectives.
• Business Unit Profitability – In this topic we will see that profitability of a business unit is determined via a business unit profitability analysis. The whole cost method considers all expenses that affect a business unit, even if they also affect ALL other business units.
• Financial Profitability – In this section we will learn financial profitability is a metric for determining how efficient a company is – and, ultimately, whether it succeeds or fails. A business’s ability to provide a return on an investment based on its resources in comparison to an alternative investment is another definition of profitability.
• Balanced Scorecard – In this topic we will see balanced scorecard is a framework for implementing and managing strategy. It connects strategic objectives, measures, targets, and actions to a vision.
• CVP Analysis – In this section we will learn CVP analysis is a cost-volume-profit method of cost accounting that examines the influence of varied levels of expenses and volume on operating profit.
• Special Order Analysis – In this section we will learn a special order is a one-time customer order that often involves a large quantity and a cheap price in cost accounting. This is an opportunity to make or lose money.