Description
Overview:
Using the Balanced Scorecard Institute (BSI) framework, you can see that developing KPIs is a systematic process that begins with understanding the goal of the strategy of the firm. Thus, it is important to frame your plan using the strategy as your goal. The BSI framework is a subset of the final project deliverable and is KEY to your success.
KPI Process Using BSI Framework (slightly modified by the following to meet the needs of this course:
https://www.balancedscorecard.org/
https://www.balancedscorecard.org/Solutions/KPIs
Pre-KPI: Always begin by articulating your strategy properly.
KPI development steps:
Describe the intended result(s)
Understand alternative measures
Select the right measurement(s) for each goal/objective
Define composite indicators as needed
Set targets and thresholds
Define and document selected performance measures
Writing Your BSC Framework Plan:
If this is your first time writing this type of plan, it is recommended that you think of it as a project and outline the process of building a plan for execution by your firm. Think of this as if you are developing the plan and then trying to gain management approval to use such a plan in their business.
So, this type of paper is like a business case analysis arguing the BSC Framework Plan acceptance. Thus, you will need to establish where your BSC Framework Plan is located and for what company. From there, you will analyze the company including its strategy, its competitors, its market, its products/services, and its financials. You will then work the KPI process to establish your overall BSC Framework Plan resulting in a final scorecard.
For the presentation, your goal is to explain your plan as if you have the management of the company in the room and you are selling them your ideas of how to improve their organization using BSC Framework planning.
The overall process is detailed in the following Table of Contents which you must follow (please refer the attachment). This process is critical to the building of a strong performance management system.
This plan will be formally submitted and should be error-free and typed with no more than 20-25 pages excluding attachments and bibliography (at least 10 bibliography sites are required); font at 10-11; spacing at 1.5; margins- normal, APA format for citings.
Documents to be added to the final ZIP folder submission
1. Paper (Final Report in docx)
2. PPT explaining your final report/paper
3. 3-4 minutes of Video explaining your PPT
Unformatted Attachment Preview
Balanced Scorecard Data Setup- Format/Shell
ACTION: To be completed with your Final Project as an Attachment
And discussed within your paper and PPT.
Balanced Scorecard Data Set Setup
Balanced Scorecard Categories
Inc
Dec
+/-
Metrics
Company
Location
NOTES:
NOTES:
Comments (optional)
(%,0,0.0)
Data
Format
Jan
NOTES:
NOTES:
NOTES:
NOTES:
Optional, but helpful to
make notes to yourself
here
Examples:
%, whole
numbers,
numbers
with
decimals,
dollars
This is for actual data captured by month. In the rest of the classes in your degree, you will learn how to code to get the correct data that will feed to a
data set where you will pull such monthly informaton to put into this shell. From there, you will a’explore’ the data looking for validity (various other
courses from this program will help you determine if you have the right data and talk about cleaning the data etc) and then once comfortable with the
data, you will ‘explain’ the data via story telling and move from this worksheet in Excel to a Dashboard and/or Data Visualization mode.
Red=Issues
Green=Good
Yellow=Caution
To Be Filled In As Actuals Are Recorded
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Overall
Financial
Strategic Objectives
1
2
3
Customer
Strategic Objectives
1
2
3
Internal & Processes
Strategic Objectives
1
2
3
Learning & Growth
Strategic Objectives
1
2
3
NOTES:
These strategic objectives come from the paper
MSBA 301 – BSC Data Setup Format
These are PMI that are converted into Metrics
Examples:
HR, Supply
Chain,
Operations
Must be filled in for Final Paper
NOTE: This Table of Contents is designed for a broad use – BSC Framework planning can use it. Where
you see “Company” in the Table of Contents, this may change depending on your focus. If you are a
department manager and doing a plan, then you should change all “Company” to your department. If
you are doing a project, then you should change all “Company” in the table to read your project name.
Table of Contents – MUST USE THIS AND MUST HAVE PAGE NUMBERS TO EACH OF THE SECTIONS:
1) Executive Summary
2) Overview of the Company’s Landscape
a) Background of the company
b) Overall current performance – Financially and Company-wide
c) Company Strategies
i) Product Strategies
ii) Service Strategies
d) Market and Competitor Analysis
e) Define what is the issue you are seeking to fix – in detail
3) KPI Process Using BSC Framework
a) EPM Intended Result(s)
b) Proposed Brainstorm of Key Measures
c) Defined and Documented Selected Performance Measures
d) Define Composite Indicators
e) Established Targets and Thresholds
4) Mock-up Balanced Scorecard for the Company
a) Proposed Scorecard Overview
b) Additional Scorecard Elements:
i) Proposed Automation Tool
ii) Collection and Monitoring Plan
iii) Plan of Analysis of the Data
iv) Performance Improvement Plan
5) Conclusion
a) Plan Recap
b) Approval: “Do I have your approval to proceed with this plan?
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