The Balance Scorecard is a control tool created in the early 1990s and aimed at aligning an organization’s performance with its strategic objectives. This tool, widely used in business, government and non-profit organizations, provides an overall view of performance through four main aspects: finance, innovation and learning, internal business, and customers. Likewise, the Balance Scorecard is used as method of controlling projects performance.
For this paper, you will apply a Balance Scorecard approach to the project plan developed during the Group Activity. Using the four perspectives outlined in the article “Align project management with organizational strategy” apply each perspective the project that was outlined in your group’s project plan.
Based on the overall goals of the organization (you are free to make some assumptions given the information you have), as well as those of the project, identify some specific objectives for each of the categories of the Balance Scorecard (Employee Growth and Learning, Internal Processes, Customer Satisfaction, and Financial.)
Which are the relationships among the specific objectives of the project identified? (See the Regional Airline Balanced Scorecard Simplified Strategy Map)
Identify the specific performance measures for each area that will illustrate success of the project
What are the targets for these performance measures—how will you know when the performance measures have been reached?
Which specific initiatives and actions, by the organization, will contribute to the attainment to the targets?
Again, assumptions are allowed just be sure to articulate them in the paper
Sample Solution .
