Homework: Managing Projects and Programs
The Balanced Scorecard is a control tool created in the early 1990s and aimed at aligning an organization's performance with its strategic objectives. This tool, widely used in business, government and non-profit organizations, provides an overall view of performance through four main aspects: finance, innovation and learning, internal business, and customers. Likewise, the Balanced Scorecard is used as a method of controlling project performance.
For this paper, you will apply a Balanced Scorecard approach to the project plan developed during the Group Activity. Using the four perspectives outlined in the article "Align project management with organizational strategy" apply each perspective the project that was outlined in your group's project plan. You should also download this balanced scorecard for a visual example: Regional Airline Balanced Scorecard (Download the pdf).
Based on the overall goals of the organization (you are free to make some assumptions given the information you have), as well as those of the project, identify some specific objectives for each of the categories of the Balanced Scorecard (Employee Growth and Learning, Internal Processes, Customer Satisfaction, and Financial.)
o Which are the relationships among the specific objectives of the project identified? (See the Regional Airline Balanced Scorecard Simplified Strategy Map)
o Identify the specific performance measures for each area that will illustrate the success of the project
o What are the targets for these performance measures-how will you know when the performance measures have been reached?
o Which specific initiatives and actions, by the organization, will contribute to the attainment of the targets?
o Again, assumptions are allowed just be sure to articulate them in the paper.
Format your homework according to the following formatting requirements:
o The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
o The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
o Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.