Introduction

The benchmarking methodological uniqueness is represented by the identification of those processes that lead to superior performance, followed by the analysis of the best practices behind that success. Benchmarking offers the opportunity to compare an organization’s performance against industry competitors, noting strengths, weaknesses, and different ways of executing projects. As successful businesses constantly focus on improving the quality of their processes, products and services, benchmarking comes as one of the best approaches in achieving innovative ideas and superior procedures within the organization, through finding and implementing best practices.In order to ensure a successful benchmarking study, professionals should not only become familiar with how to drive a good selection of the variables to be measured, but also how to determine the comparison compatibility of the measured processes and allocate the resources accordingly.

Benefits

• Improve your organizational processes by applying benchmarking best practices;
• Link benchmarked data to your organizational strategy and performance objectives;
• Set up and apply a benchmarking plan in your own organization, in order to increase competitiveness;
• Acquire strong competitive insights from benchmarking specialists’ experience and best practices examples to suit your organization’s reality;
• Gain professional recognition of your personal benchmarking knowledge and capabilities by obtaining the certification granted by The KPI Institute.

Learning objectives

• Associate benchmarking objectives with the organizational strategy;
• Design a benchmarking plan for your organization;
• Understand the fundamentals of data collection and analysis;
• Assess performance gaps according to benchmarked data;
• Select the relevant benchmarks and establish a monitoring process.

Agenda

Day 1 – Introduction to benchmarking

Benchmarking overview

• Definitions and terminology;
• The advantages of benchmarking;
• Types and styles of benchmarking;
• Governance;
• Cost-Benefits analysis;
• Stages and processes of benchmarking activities;
• Activity: Design a benchmarking process.

How to develop a benchmarking plan

• Scope establishment;
• Purpose statement development;
• Benchmarking team;
• Organization strategies and benchmarking targets;
• Benchmarks identification;
• Benchmarking partners;
• Project Management techniques;
• Activity: Develop a benchmarking plan

Day 2 – Data collection & analysis

Data collection

• Data collection process;
• Data collection instruments;
• Secondary research;
• Questionnaire development;
• Activity: Design a questionnaire.

Data governance

• International data reporting standards;
• Data adjustment for benchmarking;
• Data quality;
• Value drivers and internal capabilities;
• Activity: Determine data quality errors.

Data analysis

• Logical framework for data analysis;
• Data comparison;
• Identification and analysis of performance gaps;
• Activity: Conduct data analyses based on various

Day 3 – Value generation

Insight Generation

• Initiatives proposal to close performance gaps;
• Develop action and implementation plan;
• Adapting improvements;
• Monitor and report process;
• Activity: Practice on various methods for closing performance gaps.

Best practices in benchmarking

• Illegal benchmarking practices;
• Guides, networks and resources;
• Examples of best practices;
• Activity: Elaborate a benchmarking plan.

Review and Certification Exam

• Course review;
• Certification Exam.