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Balanced scorecard Project Management

Balanced scorecard Project Management

This mind map helps you plan a performance improvement project using the Balanced Scorecard.

This type of project requires a good knowledge of your company's strategies and operations. The technique works by establishing insightful measurement points in four areas of operations.

Keywords: project management, scorecard project, scorecard perspectives, strategy, stakeholders, objectives

Balanced scorecard Project Management

Balanced scorecard project management

Plan a project to improve your performance using this balanced scorecard project management template. This project will require resources and long-term commitment.

The completion of this mind map requires a good knowledge of the organization’s strategies and operations.

Add the stakeholders’ needs and measurements that show that you understand those needs. Then think about your organization’s mission, objectives, and strategies.

Look at the situation from the four perspectives of the balanced scorecard technique: financial perspectives, external customer perspective, internal business process perspective, and learning and growth perspective.

Continue completing this template by planning out some initial actions.

Add key players to your project. Establish objectives. Then communicate the results to your company.

Where to next?

Where next?

You can return to this map and re-use the Wizard as many times as you like.
Save the map as a normal Mindomo map and continue to work with it, using more of Mindomo's features.

Good luck with your project!

Name of your organization

Begin by entering your organisation's name in the central topic, then press Enter.

Action Plan

In this part of the map, plan out some initial actions for your Balanced Scorecard project.

Use this map to develop the plan further and keep track of actions as you make progress.

Maintenance phase

Add an action for the maintenance phase of your project, once the first round of improvement initiatives have been made. Think about:

Execution phase

Add an action for the execution phase of your project. Think about:

Initiation phase

Add an action for the initiation phase of your project. Think about:

Balanced scorecard perspectives

The four perspectives of the Balanced Scorecard technique help ensure that you are making measurements across all the important areas of your business.
Use the sections below to help identify further measurements, and to group any measurements that have already been identified by examining your stakeholder needs and strategy.

Learning and growth perspective
Motivation, empowerment and enlightenment

Add an employee motivation measurement that reflects the attitude of your staff and predicts future performance.
Measurements should be:

Employee motivationEmployee satisfactionEmployee retentionImprovements achievedTeam performanceTargets reached & exceededStrategic awareness
Information systems capabilities

Add an information systems measurement that reflects the quality and accessibility of information available to your employees.
Measurements should be:

Accuracy of informationAvailability of informationTimeliness of informationAccessibility of informationCommunications efficiency
Employee capabilities

Add an employee capability measurement that reflects the skills, knowledge and performance of your employees, and predicts future capabilities.
Measurements should be:

Employee productivityStrategic skillsEmerging skillsSkills gapsSkills coverage ratioTraining levelsTraining initiatives
Internal business process perspective
Operations processes

Add an operations measurement that reflects the production performance.
Measurements should be:

ProcurementStock levelsQuality measuresLead timesThroughputsScrap ratesYield ratesDefect ratesWaste levelsOn-time deliveries
After-sales service processes

Add an after-sales service measurement that reflects the performance of customer support.
Measurements should be:

ComplaintsSupport requestsSupport turnaroundReturnsRepairsRepair turnaroundService Level Agreements
Innovation processes

Add an innovation measurement that reflects innovation in your organization.
Measurements should be:

Suggestions madeSuggestion adoptedSavings madeInnovation projects startedInnovation projects completedProduct launchesTime to marketTime to break-evenPatents and rights
External customer perspective

Add an external customer measurement that reflects future potential. Choose from the typical ones suggested, or preferably create your own.
Measurements should be:

Market shareCustomer acquisitionCustomer retentionCustomer satisfactionCustomer profitabilityProduct or service attributesCustomer relationshipsImage and reputation
Financial perspectives

Measurements in the Financial perspective show whether your company has performed well financially, where improvements can be made, and whether it is in a secure position.

Add a financial measurement that reflects achievement and progress.

The team

Support for your project is vital.
If your project is successful at identifying the need for significant change, then you can be sure there will be barriers to change and people to convince.

Key roles

Add a key player to your project. Think about:

Objectives

A Balanced Scorecard project will require resources and long-term commitment, and the results must be used to implement change, otherwise, it will die. In the same way that Balanced Scorecard is based on measurements, you should identify the KPIs for the project itself by agreeing on objectives and measuring progress towards them.

Project objective

Add an objective for your Balanced Scorecard project. Think about:

Communications

Continually communicating the results of your Balanced Scorecard project is vital.

Reviewing and taking action

Who will review the results, and what actions can they take?

Add an action for reviewing and applying the measurements.

Designing dashboards

What factors will influence the design of your dashboards, to keep people informed?

Add an action for designing your dashboards to communicate measurements and improvements.

Distributing and sharing
Action

How will the results of your project, and the background information that supports it, be distributed in your company?


Add an action for sharing the measurements from your project.

Strategy

Identify areas for measurement and management by thinking about your organization's mission, objectives and strategy.

Add a measurement against objectives or strategy. Measurements should be:

Status
Strategy status

Add comments about the status of your strategy today. Is it:

Statements
Strategy statement

Add a statement about your mission, objectives or strategies.
If you are not clear on these, then consider using a VMOST analysis to create them.

Stakeholders

Stakeholder

In order to identify measurements that give insights into performance, be clear about the needs of all the stakeholders in your company.
Add a stakeholder who has an interest in the success of your organization.
You can choose from the suggestions, or better, add stakeholders that are specific to your company.

CustomersConsumersOwnersShareholdersStaffMembersRegulatorsThe communityPartnersSuppliers
Measurements

Measurement

Add a measurement that shows you understand stakeholder's needs and are meeting them.

Needs

Add a stakeholder's need or requirement that plays a major role in your project.

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