BSC project management implementation

A Balanced Scorecard project implementation consists on different phases that might vary depending on the organization, its internal business processes, the market its operates, etc .  However, due to the nature of the project, some of these phase might be considered as common as far as they have to adress the same issues of the BSC.

The type of project and phases described below are just an example and in any case prentend to be a template for a BSC project implementation. They might fit a company but not another one, so they are not necessarily better than any other procedure.  

The Balanced Scorecard implementation should be considered as project implementation for the following reasons:

1-   Get an overall and better picture of phases, need of resources and time project estimation.
2-   Optimize the management of the real available resources capability through the whole project.
3-   Ensure that the sequence of phases is planned correctly in time and manner and that they are  consistent and reinforcing.
4-   Improve budgeting control, reporting and related business planning processes.
5- Clarify objectives, responsibilities, resources, times, sequences and action plans and  encourage teamwork.
6-   Minimize risk of project delays, mistakes and associated risks.
7-   Gain a real and objective picture of the project development against the planning.
 
Example of phases of a Balanced Scorecard Project implementation: 
The following ones are the most common phases in a Balanced Scorecard Project planning.

Some of the phases could be undertaken in parallel depending on resources and time availability. Therefore, it is recommendable to use project management tools for a better project management.

1-     Analyse business data with a holistic and dynamic approach                           

2-     Define BSC work team

    1. Leadership Team (Upper level management):
    2. Core Team (Middle level management):
    3. Measurement Team (Lower level personnel):                            

3-     Report first diagnosis to BSC team.                             

4-     Establish strategic objectives and define used criteria.                         

5-     Revise strategic themes.                                 

6-     Build a Strategic Map: Define cause-effect relationships. Key factors to success (drivers) to KPI.         

7-     Define targets, KPIs and business drivers from all company's metrics.                         

    1. Target definition    
    2. KPI definition, ownership, frequency of revision
    3. Define how is calculated and reported
    4. Sources needed
    5. Measurement Summary: Summary of attributes associated with each measurement in the Balanced Scorecard
    6. Check the balance between outcomes (KPIs) and operating drivers of the BSC

8-     Plan strategic programs, action plans and its key milestones.                           

    1. Program name                                     
    2. Program accountability and sponsors                                            
    3. Program allocated resources                                            
    4. Program benefits and expected impact on strategic goals                                          
    5. Define programs weight, rank and score within total programs                                  
    6. Check objectivity and fairness with top management                                   
    7. Plot impact of programs against strategic objectives: No strategic objective without program                       

9-     Summarize Objectives, Measurements, Targets & Programs.

10- Create an Implementation Plan

 

 

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