Join Mike Figliuolo for an in-depth discussion in this video Defining your measures, part of Executive Decision Making.
- When you go to make an executive decision,…define short-term, medium-term,…and long-term measures…for how you're going to look at success.…Those measures should be quantitative,…as well as qualitative.…Look at things like customer impacts,…revenues, profits, costs, net promoter scores,…associate survey comments.…Document what the metrics are, and track them over time.…Now, make this a manageable set of metrics.…
The way I encourage people to think about it is:…Only track the metrics that will change the answer,…that will cause you to go back and change your decision.…One example that I had was,…we were looking at changing our commissions…for some oursource vendors.…We paid these outsource vendors…tens of millions of dollars per year.…This was going to have huge financial implications.…It was also going to affect our customers.…We wanted to change compensation…because it was going to save on cost,…and hopefully drive top-line performance.…
Now, for this decision, we only had four key metrics…we were going to track.…
Mike helps you find the data and tools to support your decision, make the call, communicate decisions effectively, and lead your organization through the change. He'll also address common problems that arise from these high-profile decisions: cultural differences, quality of information, trust, and accountability, to name a few.
Lynda.com is a PMI Registered Education Provider. This course qualifies for professional development units (PDUs). To view the activity and PDU details for this course, click here.
The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.
- Explore methods for communicating more effectively.
- Review decision-making styles to find the best one for you.
- Recognize the right time to declare success.
- Recall how an understanding of inherent biases can help you get the right data.
- Review methods for building trust.
- Explore how to make the right call while assessing risks.