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Implementing Balance Scorecard for performance management
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Top Ten Reasons for a Performance Measurement System
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Source : http://www.balancedscorecard.org
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These are various benefits of implementing balanced score card in the organisation. The Balanced Scorecard Institute also have a same point of view and they have given few reasond for the same. I hope that these will also make to implement these in your organisation.
Lets take a look at these reasons:
- It improves the bottom line by reducing process cost and improving productivity and mission effectiveness.
- A performance measurement system allows an agency to align its strategic activities to the strategic plan. It permits -- often for the first time -- real deployment and implementation of the strategy on a continuous basis.
- Measurement of process efficiency provides a rational basis for selecting what business process improvements to make first.
- It allows managers to identify best practices in an organization and expand their usage elsewhere.
- The visibility provided by a measurement system supports better and faster budget decisions and control of processes in the organization. This means it can reduce risk.
- Visibility provides accountability and incentives based on real data, not anecdotes and subjective judgements. This serves for reinforcement and the motivation that comes from competition.
- It permits benchmarking of process performance against outside organizations.
- Collection of process cost data for many past projects allows us to learn how to estimate costs more accurately for future projects.
- If you are in a US Federal agency, it's the law. The Government Performance and Results Act of 1993 requires a strategic plan, and a method of measuring the performance of strategic initiatives.
- It can raise you agency's Baldrige score, which can serve to increase its long-term chances of survival.
These are only a few reasons but this could increase with the passing of time. So make sure that you not only attain these advantages but also get some more for you.
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varsha ., Technical manger(QMS)
| 7 months ago
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Anil Tadmari, Head/VP/GM-Corporate Planning/Strategy, MACCAFERRI
| 11 months ago
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Samir Nigam, Sr. Software Engineer , SRM TECHSOL Pvt. Ltd.
| 11 months ago
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