GOOD DAY ONE AND ALL, I AM STUDENT OF MBA(HR) AT AMITY BUSINESS SCHOOL. I WANT CERTAIN INFORMATION ON BALANCE SCORECARD IMPLEMENTATION STRATEGY AND METHODOLOGY. Can somebody help me pls anurag
From India, Delhi
From India, Delhi
The Balanced Scorecard is a management system that enables organisations to clarify their vision and strategy and translate them into action. When fully deployed, the Balanced Scorecard transforms strategic planning from an academic exercise into the nerve centre of an enterprise.
A prerequisite for implementing a Balanced Scorecard is a clear understanding of the organisations vision and strategy. The basis for the vision and the strategy should be the holistic view and the information the management receives during systematic strategy work.
The implementation of a BSC should always be organised as a separate management system development project. The project should be planned in the same detail as any other project in the organisation and standard project management procedures should be followed. The actual implementation of a Balanced Scorecard can be divided into five phases: Model synthesis, technical implementation, organisational integration, technical integration and operation. Many of the above phases can be performed parallel. This will shorten the total project schedule significantly.
During the model synthesis phase the organisation seeks consensus about their vision and strategy and derive the needed measures. Furthermore the strategy of the organisation is quantified into measures or Key Performance Indicators (KPI's). The measures can be derived from the strategy using Critical Success factors (CSF's) or alternatively using Strategy maps. The key properties of each of the measures in a Balanced Scorecard are also defined.
In the technical implementation phase the visions, strategies, critical success factors, measures etc. are entered into the system. The technical implementation steps include; installation of the software, training, building of the scorecards, setting target and alarm levels, setting data consolidation rules as well as defining graphs and possible customised reports.
The objective of the Organisational integration of the Balanced Scorecard is to integrate it with the management and reporting processes of the organisation and communicate the BSC to all the members of the organisation.
Technical inegraion is performed to reduce the effort needed to collect measure data. The Balanced Scorecard system is integrated to operational IT systems, databases and/or data warehouses such as financial reporting systems, Enterprise Resource Planning (ERP) systems or Customer Relationship Management (CRM) systems. t t
The benefits from the Balanced Scorecard are realised when the Balanced Scorecard is used in day-to-day operations. Data update, analysis and reporting are performed regularly within the management and reporting processes. From time to time it is also necessary to refine the Balanced Scorecard. The Balanced Scorecard should be a standard tool used by the management team in their strategy work.
Due to the nature of a Balanced Scorecard project exact time & cost estimates for the whole project can be difficult to make in advance. The needed effort depends very much on how far the organisation has advanced in its Balanced Scorecard thinking as well as the complexity and number of Scorecards implemented. The total costs for a typical Balanced Scorecard project consist of: Time used by customer's own resources (50%), outside process consultancy (20%), outside implementation consultancy (15%), software licences (15%).
A fast track approach to implement Balanced Scorecard can be used successfully when implementing Balanced Scorecards with organisations that have already used Balanced Scorecards or to create a fast pilot Balance Scorecard implementation.
may be the above information can help you.
Regards
Divya
From India, Bangalore
12A prerequisite for implementing a Balanced Scorecard is a clear understanding of the organisations vision and strategy. The basis for the vision and the strategy should be the holistic view and the information the management receives during systematic strategy work.
The implementation of a BSC should always be organised as a separate management system development project. The project should be planned in the same detail as any other project in the organisation and standard project management procedures should be followed. The actual implementation of a Balanced Scorecard can be divided into five phases: Model synthesis, technical implementation, organisational integration, technical integration and operation. Many of the above phases can be performed parallel. This will shorten the total project schedule significantly.
During the model synthesis phase the organisation seeks consensus about their vision and strategy and derive the needed measures. Furthermore the strategy of the organisation is quantified into measures or Key Performance Indicators (KPI's). The measures can be derived from the strategy using Critical Success factors (CSF's) or alternatively using Strategy maps. The key properties of each of the measures in a Balanced Scorecard are also defined.
In the technical implementation phase the visions, strategies, critical success factors, measures etc. are entered into the system. The technical implementation steps include; installation of the software, training, building of the scorecards, setting target and alarm levels, setting data consolidation rules as well as defining graphs and possible customised reports.
The objective of the Organisational integration of the Balanced Scorecard is to integrate it with the management and reporting processes of the organisation and communicate the BSC to all the members of the organisation.
Technical inegraion is performed to reduce the effort needed to collect measure data. The Balanced Scorecard system is integrated to operational IT systems, databases and/or data warehouses such as financial reporting systems, Enterprise Resource Planning (ERP) systems or Customer Relationship Management (CRM) systems. t t
The benefits from the Balanced Scorecard are realised when the Balanced Scorecard is used in day-to-day operations. Data update, analysis and reporting are performed regularly within the management and reporting processes. From time to time it is also necessary to refine the Balanced Scorecard. The Balanced Scorecard should be a standard tool used by the management team in their strategy work.
Due to the nature of a Balanced Scorecard project exact time & cost estimates for the whole project can be difficult to make in advance. The needed effort depends very much on how far the organisation has advanced in its Balanced Scorecard thinking as well as the complexity and number of Scorecards implemented. The total costs for a typical Balanced Scorecard project consist of: Time used by customer's own resources (50%), outside process consultancy (20%), outside implementation consultancy (15%), software licences (15%).
A fast track approach to implement Balanced Scorecard can be used successfully when implementing Balanced Scorecards with organisations that have already used Balanced Scorecards or to create a fast pilot Balance Scorecard implementation.
may be the above information can help you.
Regards
Divya
From India, Bangalore
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
HR-balance scorecard.zip
Balance Scorecard.doc
Balance Scorecard - An effective Tool[1].ppt