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22 August 2007

Balanced Scorecard for Project Success

The Balanced Scorecard is a management concept that says there is/should be more that one imperative for success. At high level it considers success, or effectiveness, to be a balance across financial, strategic, customer and internal process compliance.

Operations management have been using this framework for a few years now. Projects can learn from it.

Projects, especially software projects, have a hard time satisfying clients and here is a way of getting client satisfaction onto the agenda alongside time, cost and quality (scope delivery.) It also puts quality management up there on the list of key success factors.

Your balanced scorecard doesn't have to be the usual financial, process, strategy and customer effectiveness measures. You can mix and match your own set of agendas that need balancing. You can weight them as you think appropriate. Or you can take on the vanilla model.

Either way it's a fresh way for project managers to approach the definition of success. Do you think you could pull it off on your current or next project?

Post inspired by this presentation from "Strategy, Change and Project Management"