Boardspace Board Management Software Review

Boardspace Board Management Software Review

BoardSpace is an online portal that helps directors, who are volunteers, manage their boards.

Preparation and Selection of Board Managers with BoardSpace Software

Where board performance assessment is practiced, BoardSpace provides some uncertainty about how to use the results to drive change – whether it is changing the composition of the board, how the board interacts with management or adjusting how directors monitor risk or compliance. company strategy.

After looking at the specifics of project management, let’s look at the system for training and selecting project managers. In our opinion, the following main forms of training project management specialists can be distinguished from the BoardSpace software:

  • official – training of specialists in universities and in special courses, the completion of which is certified by an appropriate document. Compulsory requirements are imposed on the students of this form of training, both at the beginning and at the end of training, and in some cases, in the course of the training itself;
  • semi-formal – passing a rich program of training in short courses (lasting from several days to several months), attending popular lectures and practical classes. There are no mandatory requirements for students of this form of training and they do not receive special certificates of their completion;
  • informal – participation in conferences, symposia, regional seminars, meetings of professional societies, as well as familiarization with the relevant literature;
  • on-the-job training is on-the-job training for a specific project, as well as self-education.

The main principle of BoardSpace is to simulate possible situations and then quantify risks based on the conclusions drawn from the simulation results, i.e. one particular situation is compared with another (usually the choices of “bad” and “good” circumstances are compared with the most likely circumstances).

The Importance of BoardSpace Usage and Its Stages of Implementation

BoardSpace combines tools that allow you to understand the causal relationship between performance goals and performance drivers. BoardSpace is a strategic management tool useful for strategy implementation and reformulation when poor performance is measured against a scorecard. As a result, it is in the overall process of monitoring and adjusting the company’s strategy.

In order to measure the effectiveness of solving each task that will be included in the strategic map, key performance indicators are required, or it would be more correct to call them “key performance indicators”. BoardSpace, in fact, measures the attainability of goals, as well as characteristics of the effectiveness of business processes and the work of each individual employee. For each task included in the strategic map, its own key indicators are determined, which will measure the effectiveness of solving this task.

There are stages of implementing BoardSpace key indicators. Organizational and key tasks for the implementation of key indicators are:

  • the formulation of the organization’s strategy, the strategy must be clearly stated in writing (when developing a strategy, it is imperative to indicate the key factors for the success of the organization);
  • development of a balanced scorecard for the implementation of the organization’s strategy; selection of a system of key indicators for each of the prospects;
  • determination of key performance indicators for assessing the activities of each department and employee of the organization, drawing up regulations on the KPI system;
  • building a motivation system based onboard management software;
  • introduction of an automated information system for collecting and analyzing information, entering information into the system;
  • monitoring the implementation of the strategy: assessing the activities of the organization as a whole, departments, and employees, monitoring the implementation, reviewing, and bridging in accordance with the regulations.