Theater Management Balanced Scorecard and KPIs Prepared in Excel
Theatres are often places that people love visit for their style of presentation and performances around the world. From dance, music, comedy and tragedy to ancient plays, a theatre has a lot to offer to its audience.
For effective performance management in theatre, KPIs can be structured under four main perspectives- financial perspective, audience perspective, performance perspective, and staff and PR management perspective.
Financial Perspective helps in knowing how well the theatre is working in financial terms. In comprises of KPIs such as marketing budget, % increase in monetary grants, ticket sales revenue and % reduction in operating expenses.
Audience Perspective can be judged with KPIs such as % positive responses from audience, modes of buying tickets, types of theatrical programs offered and hygiene and cleanliness level.
Performance Perspective can be had to measure the performance level of the theatre in terms of occupancy level, number of awards won, % increase in general audience and % rise in membership subscriptions.
Staff and PR Management Perspective consists of KPIs like number of excellent reviews published in media, training sessions for stage door and front of house staff, educational campaigns carried out for theatre-work promotion and number of free or fund-raising performances done annually.
Why do business professionals choose ready-to-use KPIs?
Read Why do business professionals choose ready-to-use KPIs? to find out the answers to these questions:
- Can a business professional research KPIs on his own?
- How do I avoid typical problems with KPIs?
- Is ready-to-use KPI applicable in my niche?
- Is KPIs' price affordable?
- Can KPIs can be easily integrated in any business environment?
- How can KPIs make the difference to the business?
What are the benefits of Theatre Management metric:
- Theatres should measure and contrast revenues and expenses related to maintenance, advertising, wages to personnel etc. Thus, a series of financial and non financial indicators will help.
- Identifying the most profitable shows is possible through evaluation of such KPIs as revenue from old shows vs revenue from new ones.
- As to promotion, advertising methods and their efficiency is to be evaluated (advertising sources per show etc).
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More ideas on using Theatre Management KPI
Managing a theatre is about arranging for wide variety of acts and demonstrations. The kind of acts organized says all about the success of the place. Therefore, one needs to be apt at bringing the inputs together and see to it that all activities are conducted in 'intended manner'.
Choice of plays has to be according to the audience that is expected at the place.
To conclude, one gets to know that it is both 'necessary' and 'beneficial' to use a management strategy for assigning values to aspects that matter. To come up with a truly beneficial set of metrics, it is needed that the user conduct a detailed study into the area of theatre. Further, after this is accomplished one can hand over this job of 'overlooking' the operations at a theatre to this tool called BSC (Balanced Scorecard). It is basically a collection of indicators that enable the user take forward its 'quantification ambitions'. In other words, one can use the values and numbers to know which direction the operations at theatre are moving.
It will ease out the task of management group at theatre involved in handling the operations.
Saying it all, it is possible to organize the tasks and jobs by assigning values to metrics that are dug post-analysis.
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Theatre Management Evaluation Balanced Scorecard Screenshots
Metrics for Culture Evaluation
This is the actual scorecard with Theatre Management Dashboard and performance indicators.
The performance indicators include: financial perspective, marketing budget, % increase in monetary grants, ticket sales revenue, % reduction in operating expenses, audience perspective, % positive responses from audience, modes of buying tickets, types of theatrical programs offered, hygiene and cleanliness score, performance perspective, occupancy level, number of awards won, % increase in general audience, % rise in membership subscriptions, staff and pr management perspective, number of positive reviews published in media, training sessions for stage door and front of house staff, educational campaigns carried out for theatre-work promotion, number of free or fund-raising performances done annually.
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