BSC in PM
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Welcome to the BSC Toolkit for Project Management.
The Balanced Scorecard is a powerful solution that can help you to lead your project management team more effectively. But building and implementing a Balanced Scorecard can be a challenge. With thousands of metrics to choose from, how can you find the best way to measure your team’s performance, let alone control and improve it?
That’s why we’ve created the BSC Toolkit for Project Management: to make designing and implementing the Balanced Scorecard for your team a simple, organized process, so you can see real results and develop a strategy for success.
The Toolkit includes helpful guides, step-by-step instructions, sample scorecards developed by experts, and everything you’ll need to create and use an effective project-management scorecard, whether you’re managing one business unit or a whole company.
The BSC Toolkit for Project Management starts with twenty-seven complete Balanced Scorecards, including 430 Key Performance Indicators, all designed specifically for project management.
Measure, control, and improve your team’s performance in areas like cost management, resource allocation, project quality, and more.
- Track your progress toward your project management goals.
- Open the scorecards in MS Excel, and use them effectively, right away.
- Or, open and edit them in our free software, BSC Designer Lite, to customize these scorecards for your particular business.
You’ll also receive a twenty-page guide on the best ways to put the Balanced Scorecard to work for you and your team.
- Explore best practices used by businesses and project management organizations all around the world, and learn from their experience.
- Understand the best algorithms to use as you develop your Key Performance Indicators.
- See our suggestions on how to make those indicators as effective as possible.
The BSC Toolkit for Project Management also includes materials that will teach you how to read your Balanced Scorecard, and how to share its information with your team.
The guides, scorecards, Key Performance Indicators, and free software included in the BSC Toolkit for Project Management are designed to be useful, powerful, and effective, right out of the box.
But these materials are even more effective if you use them with our professional-grade software. BSC Designer Standard and BSC Designer Pro will allow you to adapt and personalize the scorecards to suit your team, your situation, your strategic goals—and give you powerful tools like these:
- Built-in wizards and tutorials, to help you define your business’s four perspectives: Finance, Customer Relationship, Internal Processes, and Learning and Growth.
Thought-provoking questions that will help you to fine-tune your thinking and develop your strategy map, so you can be sure that your Balanced Scorecard will support your long-term strategic goals and your project management objectives.
Easy-to-read reports, convenient charts, up-to-date information, and real-time analysis, showing you where your project management processes are working well and where they need to improve, so that you can use your Balanced Scorecard to manage your team more effectively.
The BSC Toolkit for Project Management offers a complete program for planning your strategy, developing your Balanced Scorecard, and putting it into action. If you’re serious about using the Balanced Scorecard to lead your project management team to success, you won’t find a better solution anywhere.
BSC in Project Management
The Balanced Scorecard is a well-known and popular business performance management concept. We know a lot about this concept as we provide our customers with popular BSC Designer software. On this web-site you will know more about using the Balanced Scorecard in the project management.
- Learn more in the BSC Toolkit for Project Management
Balanced Scorecard for Project Management
The Balanced Scorecard (BSC) concept has become a mainstay in effective business management strategies around the world. Many Fortune companies, major corporations, small businesses, health and public service providers and even leading universities use a balanced scorecard to ensure that all factors in the company’s success are quantified and measured for evaluation. For many, this ensures that the business continues to meet its objectives over a span years or even decades.
Project managers can also use a balanced scorecard to vastly improve the effectiveness of strategic management throughout the project. Using the data and measurements that are clearly and accurately represented in the BSC, project leaders can review all areas of performance to determine how effectively resources and time are being used to ensure successful project completion.
The balanced scorecard concept was first introduced by Drs. Robert Kaplan (Harvard Business School) and David Norton in the early 1990s. Drs. Kaplan and Norton evaluated performance measurement systems developed by major corporations in the early part of the 20th century, which focused on financial and product output factors. They then added perspectives that “balanced” the physical performance measures with non-production strategic planning goals. The ultimate purpose of a balanced scorecard is to ensure that all business activities contribute the the progress of the organization toward its objectives. (Kaplan and Norton, 1996)
The two new perspectives added to the traditional Financial and Internal Processes perspectives were Customer and Learning perspectives. Kaplan and Norton asserted that the company’s relationship with its customers and its ability to grow and learn as the industry changed were essential to the organization’s ability to survive and thrive.
The BSC concept can be applied to project management in the same ways that it is applied to business goals. In project management, the “Company Objective” is to complete the project on time and within budget. Financial are, of course, budgetary concerns. Internal Processes are the activities that the project management team must perform. Customers consist of both internal customers, the people to whom a project leader must report progress and results, and external customers, vendors and subcontractors with whom a positive relationship can be beneficial. Finally, Learning includes areas such as identifying new methods or tools that will improve implementation. How well the project management team meets these objectives determines whether project results will be satisfactory.
The most valuable aspect of the BSC to project management is its ability to quantify both the physical data as well as the many intangibles that significantly impact the success of the project. Data for these Key Performance Indicators (KPIs) Areas that were previously completely subjective, such as work allocation, time available, and customer satisfaction levels can be defined using carefully crafted measurements that can be calculated and compared.
The ability to include the previously indefinable factors in the project management BSC gives the project leader the tools necessary to effectively allocate resources, meet deadlines, and ensure that all project members are working together effectively. Weak performance areas can be addressed proactively rather than when the resulting problems arise.