CMA Sri Lanka to host webinar on value-based management in government

The Institute of Certified Management Accountants of Sri Lanka (CMA) will conduct Performance-Based Strategic Management Accounting Series No. 7, on value-based management in government, on Thursday, October 21, 2021, from 6:30 p.m. to 7:30 p.m., via the Zoom platform. 

The webinar will be conducted by Gary Cokins, who is an internationally recognised expert, speaker and author in advanced cost management and performance improvement systems. He is the founder of Analytics-Based Performance Management, an advisory firm located in Cary, North Carolina.

Cokins received a BS degree with honours in Industrial Engineering/Operations Research from Cornell University in 1971. He received his MBA from Northwestern University’s Kellogg School of Management in 1974.

There is a growing impatience by taxpayers, citizens and governance boards with waste and inefficiency that is leading to demands for evidence of outputs, outcomes, transparency, and accountability. Terms like ‘doing more with less’ and ‘value for money’ are prevalent and aimed at governments at all levels – federal, counties, cities, municipalities, villages and towns. Pressures on governments around the world are forcing them to adopt ‘performance management’ – a focus on accountability for outputs and outcomes rather cries for higher inputs. 
Cokins’ presentation will cover the key areas on: 

• How strategy maps and their companion balanced scorecards communicate strategic objectives with target-setting to help cross-functional employee teams align their behaviour to the strategy and better collaborate.
• Why measures of citizen (government) and stakeholders (NfP) value are shifting from products and services to citizen-focused and stakeholder-focused organisations. 
• How activity-based costing (ABC) provides not only accurately traced calculated costs (relative to arbitrary broad-averaged cost allocations) but more importantly provides cost transparency back to the work processes and consumed resources and to what drivers cause work activities.
• Reforming the broken annual budgeting process with performance-based budgeting that links strategy to operations and is process volume sensitive rather than simply incremental at each cost centre.
• Why business analytics, with emphasis on predictive analytics and pro-active decision-making is becoming a competitive advantage differentiator and an enabler for trade-off analysis. 
• How all levels of management can quickly see and assess how they are doing on what is important – typically with only a maximum of three key performance indicators (KPIs).
• How to integrate performance measurement scorecards and ABC/M.

This webinar is meant for leaders, executives, managers, management and financial accountants and employee teams working within or with government organisations. 

The webinar will conclude with a question and answer session, where the participants will also have an opportunity to discuss practical applications and obtain clarifications via chat option. 

Those who wish to attend are requested to send an e-mail to registrations@cma-srilanka.org.