Project Performance Management Scorecard
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===Step 3:Develop KPI's and PLC objects for "Lead" indicators=== | ===Step 3:Develop KPI's and PLC objects for "Lead" indicators=== | ||
Here the main oint to identify the "lead" indicators in the project. the targets and who has the resposibillity of makeing these targets. The three point can be seen as a series of steps done by the Project Manager with the team members of the project and key stakeholds. | Here the main oint to identify the "lead" indicators in the project. the targets and who has the resposibillity of makeing these targets. The three point can be seen as a series of steps done by the Project Manager with the team members of the project and key stakeholds. | ||
− | ====1==== | + | ====Step 3.1: Identify the different indicators==== |
+ | The team must now find the different performance "Lead" indicators that will be usefull in the project. It could be view from a project life cycle point of view as the "Requirments gathering" phase. | ||
+ | ====Step 3.2: Set targets for mesauring==== | ||
+ | As the indicators are fund | ||
==Limitations== | ==Limitations== | ||
==Annotated Bibliography== | ==Annotated Bibliography== | ||
==References== | ==References== | ||
<references /> | <references /> |
Revision as of 18:15, 21 September 2017
Contents
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Abstract
The project performance management scorecard is a to increase a projects perfarmance. It incoorperates theory from the Balanced scorecard with at slide adjustement to work in a project view. It help project managers keep track of the complex inter-dependencies factors like project phases, stakeholders and "cause and-effect" inside the project.
Theory
Balanced Scorecard
The idea of developing the tool came from that according to Robert Kaplan and David Norton[1] it is impossible to measure efficiency with a narrow number of indicators. At the same time a company shouldn't have a large number and complex indicators it will lead to a lack of overview and giving a high possibility that the will not be used.
The Balanced Scorecard (BSC) is a usefull tool to help companies put their strategy into more comprehensive objects and Key performance indicators(KPI's).
It will also help the company avoid a to short sighted perspective. it is able to give companies a robust measurement and management system. With 3 elements that have a measurable indicators: Financial, Customer and Internal business, and at the same time a more soft type of indicators in the ability to learn and Growth.
The first edition consists of fire elements:
- Financial
- Custormer
- internal business process
- Learning and Growth
But it was build for a non-divisional organisation and was hard to implement in complex structure companies as well as public sector and non-profit organisation, and where therefore abandoned quickly [2]. The next generation gave a new measurement where they where based on strategic objective that could be linked together as a cause and-effect chain. This is done be linking the different KPI's in the different areas together. A Concept used in the BSC for define indicators is the "lead" and the "lack" indicators[3]. "Lag indicators are the after-the event indicators like production, accident and more. They are useful for measure the progress both for a project på the company as well but can't be used to influence the future. The Lead indicators are useful in trying to change something or predict the future. It can be described as is process and predictive indicators. the hard part of the lead indicators is to be able to determine them in comparison to the lag indicators. As the lead indicators tries to predict the future it leaves a chance of being wrong and hard to choose the right ones.
Adjusted Balanced Scorecard
In order to make the BSC more useful for Project perspective a change in view is needed. So instead looking at customers the Adjusted balanced Scorecard (ABSC)[4] will look at the stakeholders for the project. The new four key points are:
- Financial
- Stakeholders
- Internal Business
- Learning and Growth
To go away from a strategic point of view with the "lag" focused indicators being in focus, the "Lead" indicators will be used more to give some warning signals and actions to help meet the strategy. It can all in all be described as "Project performance management scorecard". It tries to achive succes by going after at set of objectives:
- Project strategy and objectives
- Project life cycle(PLC) objectives
- Project Management objectives
- Balanced Scorecard practices
Framework
To make the ensure the succes of using the the tool a series of implementations steps are required. These steps is used to enhance the learning process form the tool.
- Make the Project objectives and the link to Project life cycle(PLC) if possible.
- Establish the project management KPI's as defined as "Lag" indicators
- Develop KPI's and PLC objects for "Lead" indicators
- Use cause and effect when implementing the KPI's
- specify the impact analysis framework
- Keep watch to improve the project management process
Applications
Step 1: Make the Project objectives and the link to Project life cycle(PLC) if possible
Here the objective for the project must be stated. The list of object should be highlevel qualitavice statements but can be in some cases quatitanvie. After the list of object have been identifeid the project manager must find the key stakeholders using different tool. it could be stakeholder maps or other. then make the objects into more specifict KPI*s that can be used troughout the project phases.
A simple table is used to keep track of object and the indicators throughout the diffent phase of the project Indsæt table??????
Step 2: Establish the project management KPI's as defined as "Lag" indicators
With the objects fund the "lag" indicators is identified and put into the ABSC model . Picture?????
Step 3:Develop KPI's and PLC objects for "Lead" indicators
Here the main oint to identify the "lead" indicators in the project. the targets and who has the resposibillity of makeing these targets. The three point can be seen as a series of steps done by the Project Manager with the team members of the project and key stakeholds.
Step 3.1: Identify the different indicators
The team must now find the different performance "Lead" indicators that will be usefull in the project. It could be view from a project life cycle point of view as the "Requirments gathering" phase.
Step 3.2: Set targets for mesauring
As the indicators are fund
Limitations
Annotated Bibliography
References
- ↑ [Conceptual Foundations of the Balanced Scorecard] http://www.hbs.edu/faculty/Publication%20Files/10-074.pdf
- ↑ [Balanced Scorecard] https://en.wikipedia.org/wiki/Balanced_scorecard
- ↑ [Lead and lag indicators ] https://www.intrafocus.com/lead-and-lag-indicators/
- ↑ [Project performance mangement using balanced scorecard(BSC) approach] http://sarasconsulting.com/downloadfiles/Manage%20project%20performance%20using%20balanced%20scorecard.pdf