Benchmarking:
Comparing Your Performance with the Best

Course Introduction

Benchmarking is a process for obtaining a measure – a benchmark. Simply stated, benchmarks are the “what,” and benchmarking is the “how.”

Benchmarking is the process of studying industry or competitive practices, functions and products and finding ways to meet or improve upon them. Companies from all different industries use benchmarking to gauge their successes and pinpoint their shortcomings. The general process of benchmarking involves identifying problem areas, selecting top competitors who excel where a company falls short and making the necessary changes. There are several key advantages to using benchmarking in an organization.

Benchmarking is a way of discovering what is the best performance being achieved whether in a particular company, by a competitor or by an entirely different industry. This information can then be used to identify gaps in an organization’s processes in order to achieve a competitive advantage.

Benchmarking is a process for obtaining a measure – a benchmark. Simply stated, benchmarks are the “what,” and benchmarking is the “how.”

Objectives

By the end of this Oxford Management Centre online Course, participants will be able to:

• Describe the benefits of benchmarking
• Discuss how benchmarking activities can lead to organisational excellence
• Apply the correct methodology to data collection and analysis
• Analyze the appropriate methods of continuous improvement
• Improve the use of strategic tools

Training Methodology

This online training course will utilize a variety of proven online learning techniques to ensure maximum understanding, comprehension, retention of the information presented. The training course is conducted Online via an Advanced Virtual Learning Platform in the comfort of any location of your choice.

Who Should Attend?

This OXFORD online training course is suitable for a broad range of people, but will greatly benefit:

• Any Manager who needs to improve his skills in benchmarking and performance management
• Engineers
• Operation Managers/ Process Managers/ HSE Leaders/Finance Staff
• Middle Managers and Team Leaders involved in process improvement
• Project and Program Managers
• Change Leaders

Course Outline

• The need for performance measurement and why it matters and how to do it
• Using measurements to transform your organization
• The balanced scorecard and beyond
• Strategic, Performance and Process Benchmarking
• Applying the most appropriate benchmarking approach
• Conducting a benchmarking project
• The five phases of benchmarking
• Understanding Data, Metrics and Analysis Tools
• Essential tools for benchmarking and continuous improvement