What to Expect in Process and Performance Management in 2024?

Summary

This webinar discusses APQC's 2024 research on top priorities and challenges for process professionals. The top priorities are process management, continuous improvement, data and measurement, project management, strategic planning, and benchmarking. Key insights include the rise of AI/automation as a driver of change, increased process management team effectiveness, and new required skills like change management and storytelling. The webinar also covers top operational KPIs used for performance improvement, ensuring quality, optimizing resources, and reducing costs. Key reporting challenges are lack of standardization and time. Only 38% of organizations believe their measures effectively support decision-making, signaling room for improvement.

Takeaways

• 😀 The top 6 priorities for process professionals in 2024 are: Process Management, Continuous Improvement, Data & Measurement, Strategic Planning, Project Management and Benchmarking
• 😊 82% of respondents now have a process management team, up from 67% in 2022
• 📈 Picking the right KPIs has become a top priority and challenge
• 🔎 Ensuring measures are relevant to their purpose is critical for organizations
• 👩‍💻 Change management and design thinking skills are vital for process professionals
• 😮 AI and machine learning emerged as a top driver of change this year
• 📊 Financial KPIs remain the most used, but 2024 saw more variety in top operational KPIs
• 🤔 Only 38% believe their current measures effectively support decision making
• 🚨 Lack of standardization is the top reporting challenge
• 📝 Storytelling appeared for the first time among necessary skills to stay relevant

Q & A

What were the top 6 priorities and challenges for process professionals in 2024 according to the survey?

The top 6 priorities and challenges were: process management, continuous improvement, data and measurement, strategic planning, project management, and benchmarking.

What methods does APQC recommend for creating effective end-to-end process maps?

APQC recommends 4 steps: understand the scope and prioritize the process, identify and engage stakeholders, document all process components through assessments, and apply a lifecycle approach to map from beginning to end.

How can organizations improve their selection of KPIs and measures?

Recommendations include: leverage existing resources like APQC's frameworks, stop overcollecting data, analyze relevance and usage, and ensure alignment to goals.

What are some ways to create a continuous improvement culture?

Connecting process and knowledge management, identifying shared values, organizing for change, creating a shared language, and determining tools for change.

What were the top 2 data and measurement challenges in 2024?

The top 2 data and measurement challenges were: establishing a data-driven culture and ensuring measures are relevant to their purpose.

What are some best practices for strategic planning according to the research?

Understand the current state, identify best practices for agility, and utilize a solid strategic planning methodology.

What project management best practices were highlighted?

Using a mix of milestone and value measures and assessing which flexible methodology fits based on project scale, complexity, and type.

How can organizations improve their benchmarking capability?

Prioritize open standards, recognize barriers, use process mining, choose the right partners, and align value to decision maker needs.

What KPI use and reporting challenges were uncovered in the survey?

Lack of standardization across groups was the top challenge. Most access dashboards and standardized reports.

How effective did respondents find their current KPIs for decision making?

Only 38% found them very effective. The rest responded equally split between moderately effective and not effective.