A scorecard should allow tracking performance in a single report, comparing results obtained with the strategic goals. With this strategic information, we can align our next actions adequately. Saving Changes...
There is an excellent book on this subject:
"The Balanced Scorecard" by Robert Kaplan and David Norton.
Though the initial release was in 1996, it is still very relevant to this day. As a CEO, it is still one of my main reference books Saving Changes...
Patrice BlanchardExpert in transferring his expertise| Museum Box srlBraine L'Alleud, Brabant Wallon, Belgium
It must be related to an objective
A ideal scorecard is designed to provide a clear view on the progress on the long road to the business objectives. Let's imagine that you want to measure if your burn rate is within limits. You will define measures that help you quickly identify the predefined measures and where your burn rate is positioned between them. You will not start measuring the next milestone and if your project will meet it or not. It has nothing to do with the objective.
That's the whole point. A balance scorecard without an objective is like a map without a destination. It is completely useless.
It must be useable
An ideal scorecard provides a very clear and rapidly understandable image of the situation. If you must spend an hour to understand the message, you have missed the point.
The info must be intuitive, readable, You must be able to remember it even when you don't look at it.
Remember the electronic digital dashboards in the 80ties providing you a number for the speed. You looked at it and you immediately forgot the info.
It must be relative
Just like the speed on a digital dashboard, you forget it because it is an absolute value. You need to be able to refer to some kind of reference. That is the whole point of analogous display. They show the speed related to some reference points, usually the speed limit in a city or on the highway.
It must be concise
If your scorecard displays 20 values, you get lost and you spend too much time understanding it. Reduce the amount of info to the strict minimum. Remove all the waste. Saving Changes...
The reason for the "balanced" scorecard is that an organization as a whole may have several objectives that may or may not be compatible with one another. In the context of this discussion tread, I suggest that any scorecard / KPI designed to be used for projects should be able to percolate up to those corporate (balanced) scorecards. Saving Changes...
Luis BrancoCEO| Business Insight, Consultores de Gestão, LdªCarcavelos, Lisboa, Portugal
Ideal scorecard
An ideal scorecard is a tool that allows a business or organization to measure and evaluate the performance of various aspects of its operations. It should be well-designed, easy to understand, and provide clear and actionable information. The scorecard should measure key performance indicators (KPIs) that are relevant to the organization's goals and objectives, and should be regularly updated to reflect changes in the business environment. The scorecard should also be flexible and customizable, allowing for the inclusion of different metrics and data sources as needed. Additionally, it should be accessible and shareable across the organization to facilitate collaboration and decision-making.
