PetroVietnam Insurance (PVI)
Hanoi, Vietnam
The KPI Institute Consulting implemented a Performance Management System based on KPIs. We reviewed the existing Performance Architecture at the corporate level, then developed it at the departmental and employee levels. In this way, the organizational capabilities were strengthened, with competencies developed, as well as productivity increased.
Established in 1996, PetroVietnam Insurance is one of the largest insurance companies in Vietnam, operating in four core areas: non-life insurance, reinsurance, asset management, and property development. We met them in 2017 when they obtained a grant from Vietnam National productivity Institute and Asian Productivity Organisation to increase the productivity and efficiency of two of their departments.
Approach
For optimal workload management and task allocation, we split the project into four main stages, with intervisit periods dedicated to consolidating the outputs or laying the foundations for those to come.
Within the first stage, we delivered a KPI Essentials Training Course, meant to secure a standard set of knowledge for the transformational change to come. It was then the time for reviewing the Organizational Performance Management System, conducted to show the current state, highlighting the starting point, and orienting toward the areas of improvement. The stage was followed by an intervisit period consisting of KPI Documentation.
During the second stage, we organized a KPI Cascading Workshop and updated the Corporate Scorecard. A set of Departmental Scorecards was then compiled, dedicated to Human Resources and Marine Divisions, now aligned to the corporate strategy. Moving forward, we documented the KPIs, compiled the Competencies Framework, and hosted a webinar with the same name.
With the third stage ahead, the learning session on Competencies Framework Development was delivered, then 5 Individual Scorecards were developed. We concluded the cascading process, which started in the second stage, now with the corporate, departmental, and individuals components on the same page of performance. Furthermore, a Competency Framework Development Coaching was organized, together with fine-tuning the Organizational Competencies Framework.
The fourth and final stage came to adjust the project outputs, with the role of doing the last changes to the capabilities just developed, and to conclude the assignment. For this reason, the client delivered the final feedback on the deliverables and validated them after our final adjustments.
Outputs
Instrument we developed to help
