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Topic Title: Linking initiatives to objectives Topic Summary: Created On: 02/04/2010 09:56 AM |
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02/04/2010 09:56 AM
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Hi,
We have developed our scorecard, strategic objectives and KPI's and are now in the process of defining strategic initiatives. Does anybody have some guidance, rule of thumb, best practice or alike on how to facilitate the selection of these. We have an extensive list of possible ones mixed in nature, size and complexity etc. - but miss some clear guidance on whats is and what is not strategic initiatives. Hope somebody has some good experience/input to share. Best Regards, Christian Jungdal LEGO System A/S Denmark |
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02/10/2010 06:20 AM
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Hi Christian,
one very practical way to do this is to use a "cause and effect" (or "fishbone") diagram. Arrange each initiative aligned towards its strategic objective. Now weight their relative contribution to delivering the objective. I find a weighting scale of, say. 1:10 very workable - especially if complexity means you have to go down levels and diagrams spread to more than one page. The results of this exercise have always proved easy to understand for both owners of initiatives and senior management. More sophisticated is a "strategic impact grid" which adds to the relative contribution two other factors on the diagram: timescale until delivery of results; and risk. Again, this proves very acceptable to managers. Hope this answer gives you a pointer. I can help with a couple of practical illustrations of each if that helps you. Kind regards, john.shuttleworth@europartnership.com |
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