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Balanced Scorecard Framework Development

The Balanced Scorecard is now a mainstay among management practices for highly effective organizations. Far from a simple formula that automatically turns “strategy into execution,” the Balanced Scorecard must be applied by experienced consultants that have built and implemented successful Balanced Scorecard programs in challenging public and private sector environments.

Relationship Between the Balanced Scorecard at Each Level of an Organization Illustration entitled Relationship Between the Balanced Scorecard at Each Level of an Organization

Text description of illustration entitled Relationship Between the Balanced Scorecard at Each Level of an Organization

Our experience shows that a Balanced Scorecard framework is an important performance management tool, but it must be operationalized as a part of an overall performance management program in order to realize its true management benefits. As a result, we provide the following essential components of a Balanced Scorecard program to ensure successful Balanced Scorecard development and implementation:

  • Collaborative framework and performance-measure development that includes stakeholders across different levels of the organization to ensure an enterprise view of performance
  • Software tool customization and implementation
  • Documented procedures and training to avoid “fire drills” and ensure that all levels of the organization understand their roles and responsibilities
  • Governance-board formation and facilitation to ensure measures remain relevant and are created in a thoughtful, structured manner