Implement BSC with a detailed plan
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The document discusses creating an implementation plan for a Balanced Scorecard. The plan should include who will be involved in designing the scorecard, what software tools will be used, who will design indicators and strategy maps, and how the scorecard will be updated, revised, and implemented across business units. The plan also needs to consider three viewpoints: strategic goals, key performance indicators, and initiatives that link actions to indicators.
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Implement BSC with a detailed plan
- 1. Balanced Scorecard Implementation A bonus mini-lesson from www.ScoreCardTrainings.com
- 2. Implementation plan for BSC We discussed the process of designing and implementing the Balanced Scorecard in the eTraining, “Practical Introduction to the Balanced Scorecard,” available at www.ScoreCardTrainings.com. In this bonus mini-lesson, we will focus on the implementation plan for the Balanced Scorecard. It will require a significant investment to design a Balanced Scorecard for your company and put it into use. As a result, it is obviously necessary to create an implementation plan. Copyright © BSC Designer. More Balanced Scorecard Trainings at www.scorecardtrainings.com.
- 3. What should implementation plan include? First, you should know who will be involved in designing your Balanced Scorecard. Your top managers are not enough! To successfully implement the Balanced Scorecard, you must involve all key members of your team. Second, you need to decide what software tools you will use to support the Balanced Scorecard. If your company is very small, MS Excel might be enough. In a larger company, you will definitely want to consider using some automation tools. BSC Designer software, available at www.BSCdesigner.com, includes a freeware edition, as well as a 30-day free trial of professional edition. Copyright © BSC Designer. More Balanced Scorecard Trainings at www.scorecardtrainings.com.
- 4. Add more details to implementation plan You need to decide who will design your indicators and strategy maps, and who will combine your scorecards into a cascade. You need to plan to update and revise your Balanced Scorecard. After one or two months, you will need to evaluate the scorecard, and find out how well it works in your company. And you need to decide how to implement the Balanced Scorecard in your company. Which business units will use the scorecard? What business problems do they have, and how can you use the Balanced Scorecard to solve those problems? Copyright © BSC Designer. More Balanced Scorecard Trainings at www.scorecardtrainings.com.
- 5. Three different viewpoints Your implementation plan should also include three different viewpoints: Business problems and strategic goals: your Strategy Maps. Measurement and improvement: your Key Performance Indicators. Line-level actions: the Initiatives that link actions and indicators together. Copyright © BSC Designer. More Balanced Scorecard Trainings at www.scorecardtrainings.com.
- 6. Learn more To learn more about the Balanced Scorecard, please visit www.ScoreCardTrainings.com. Copyright © BSC Designer. More Balanced Scorecard Trainings at www.scorecardtrainings.com.