Balanced Scorecard for Strategic Project Management

The report describes the Balanced Scorecard for Strategic Project Management and its implementation in organizations. It also discusses the challenges faced by organizations and the opportunities that arise with the implementation of these scorecards. The report is relevant for courses related to project management, business strategy, and organizational behavior.

Running head: STRATEGIC PROJECT MANAGEMET
STRATEGIC PROJECT MANAGEMET
Name of the Student
Name of the University
Author Note

1STRATEGIC PROJECT MANAGEMET
Background
The aim of the report is to describe a balanced score card that will help the organization in
overcoming the challenged faced with the growing demand in the market. The balance score card is
used to determine the performance metric with the use of strategic management and aims at
identifying and improving the internal functions performed within the organization. These is also
necessary to understand the external outcomes. This is also used in order to provide the feedback for
an organization. With the help of the collected data quantitative analysis can be made. This was
introduced by Dr. Robert Kaplan , the accountant academic and business executive Dr. David Norton.
The aim of the balance score card is to reinforce the behaviours of an organization from the
perspective four areas. These areas are known as the legs and incudes learning and growth, finance,
customers and business process. The working of the balance score card is based on these four
categories and determines the goals and initiatives from these four functions of business. The
organization can easily identify the factors and the strategic changes that are required within the
organization. These helps the viewers to analyse the important factors of an organization within few
minutes. The implementation of balance scorecard will help the organization to determine the values
applied by them within the organization. Sometimes this score cards can be used to take strategic
initiatives and objectives. The four perspective of the balance score cards are as follows:
Learning and growth: this is the first step and this step includes collection of information and
analysing these information. These steps includes the way information are being captured and the way
these employees uses the collected information. These is important to understand the way these
information will help in gaining competitive advantage.
Business process: these steps aims at evaluating the factors after investigating the features of the
product and all the details associated with the manufacturing of these product. This step also involves
operational management that involves understanding the requirements and track any gaps, shortages,
or delays.

2STRATEGIC PROJECT MANAGEMET
Customer perspective: these step involves to determine the satisfaction provided by the customer.
The quality of product delivered to the customer and the service provided by the organization.
Customer is also allowed to provide feedback in case the organization fails to deliver the requested
product.
Financial data: this is the final step of a balance score card. These deals with the data such as sales,
incomes and expenditures used to understand the financial performance. Thus, these balance score
card can be said as a management tool instead of a measurement tool.
The steps involved while creating a balance score card for an organization are as follows:
1. Assess the aim and the culture of the organization
2. Need to focus on the demands of the customer
3. Need to set and define the organizations objective
4. Need to plan out the process that will help in guiding the organization
5. The organization needs to develop measures for the performance
6. Assign the team members with responsibilities
7. Implementation of the scorecard comes next
8. The next step includes cascading the scorecard
9. Evaluation of the scorecard and the process going on within the organization
10. Adjusting the balanced scorecard as per the need

3STRATEGIC PROJECT MANAGEMET
Introduction and Context
This report focuses at describing a new balance score card that will help the organization BIG
AT GOOOD SOLUTIONS in improving its efficiency. This is basically a traditional company with
workforce of 356 staff. The company is facing challenges with the increase in the level of competition
the company is facing several problems with the growing demand and the competence in the market.
Moreover, the management people are leaving the organization in order to work with the large
companies. Thus this situation lead to appointing new staffs for the organization, so that the work can
be performed within the organization properly (Apiti, Ugwoke and Chiekezie 2017). For this there is a
need to develop a balance score card that will help to understand the factors affecting the working of
the organization. As the employees are going to be hired newly, thus there is a need to train them

4STRATEGIC PROJECT MANAGEMET
about the working and also needs to tell them the negative impacts that will be created on the
organization. Thus this is the responsibility of the organizations senior management team to
implement a balance score card that will help in analysing the business strategies that will help in
improving the working and the productivity of the BIG AT GOOD SOLUTIONS (Senarath and
Patabendige 2015). The main aim of the paper is to describe balance score card that will help in
describing the internal and external challenges faced by the companies and the opportunities that
arises with the implementation of these score cards.
 There are several challenges that are likely to be faced by the company. These can be of two
types the internal challenges faced by the organization and the external challenges. This are as
follows:
 As several old employees are leaving the job, thus it will create a problem within the
organization. The organization will be under pressure of appointing new employees and even
the trainee’s needs to understand clearly about the objective of the company (Comacchio,
Campioni. and Bonin 2017). This will help in increasing the productivity. Thus, this is one of
the major challenge faced by the organization and needs to be overcome.
 The future prediction is very difficult and the organization needs to always manage and
prepare for any uncertain situation.
 Sometimes it becomes difficult to manage the financial department and meet the present
requirements (Awadallah and Allam 2015).
 In order to compete with the competitive organization, the BIG AT GOOD SOLUTINS needs
to make measures that will make the company different from others.
 Meeting with the customer needs to be the main focus for the organization. As meeting the
customer demand is important (Broccardo, 2015).
 Use of the new technology may become a reason for challenge within the organization.
 The communication gap within the organization may lead to internal dispute and will turn
into challenge for the organization.

5STRATEGIC PROJECT MANAGEMET
Balanced Scorecards (synthesis of core literature)
Balanced Score Cards can be defined as metric evaluating the performances within a project,
specifically used for Strategic Project Management (Soleh, Fahmi and Saptono 2015). The Balanced
Business Score Cards helps in the identification and the improvement of the internal functions that
undergo within a project within an organization as well as the external outcomes as a result of these
internal functions. Generally, a Balanced Scorecard generates
Business Strategy Considerations
New Balanced Scorecard solution for BIG AT GOOD SOLUTIONS, including corresponding
implementation strategy
BIG AT GOOD SOLUTIONS
Balanced Scorecard
Department: Operations
Focus Area: Business Strategy
Scorecard
Purpose
The Balanced Scorecard for Big At Good Solutions have been developed to
change the business process from the existing one to the new business process
relying as per the business processes of the competing organizations. This is
done to help the organization since the employees have been resigning from
their posts rapidly to move towards the business organizations having better
business operations infrastructure.
Scorecard
Definition
Balanced Score Cards can be defined as metric evaluating the performances

6STRATEGIC PROJECT MANAGEMET
within a project, specifically used for Strategic Project Management. The
Balanced Business Score Cards helps in the identification and the
improvement of the internal functions that undergo within a project within an
organization as well as the external outcomes as a result of these internal
functions.
Prepared by:
Title:
Approved by:
Title:
Approved Date:
Business Strategy
Consideration
Development of strategic
plan
Business owner like
BIG AT GOOD SOLUTIONS
can easily create strategic plan
which will help in identifying
strategic goals (Perramon et al.
2016). It will help them in
analyzing certain number of
steps which are needed for

7STRATEGIC PROJECT MANAGEMET
achieving the given aspiration.
A strategic plan is mainly
inclusive of a large number of
consideration which is
inclusive of look where the
organization is doing
currently. It is considered to be
specific for some of future
period that is one or even 10
years. Most of the
organization makes use of
strategic planning on an
annual basis. The main
objective of the organization is
all about setting some priority
and objective for the
upcoming year.
Realistic
Expectation: For the various
strategic plan to be effective in
nature, it should be on certain
number of realistic number
and its evaluation. The
organization should move into
service line or its expansion
into the new kind of territories.
Planner should take into

8STRATEGIC PROJECT MANAGEMET
consideration the various kind
of outside force which is
needed for detail design
(Sahiti et al. 2016). There are
some kind of political forces,
competition and lastly
consumer trends. By
understanding the planning
committee seats one should
come from the inside business.
Planner should take into
consideration the view which
is taken outside the rank of the
organization.
Plans value: Strategic
plan for organization can be
seen for growth or continued
success which mainly depends
on the various economic
factors. Consideration are
considered to be strategic plan
which needs to be included for
the given organization values.
The incorporated values can
be easily incorporated for
some of the future plans.
Planner should take into

9STRATEGIC PROJECT MANAGEMET
account the fact that what the
organization stands for and
who it aims to serve
(Mohamad 2016). It is mainly
reflected on the mission
statement of the organization.
Planner should into account
both legal and environment
changes of future plans. It is
considered to be best interest
for both employees and
included families. It is all
about understanding the plans
of an organization which is
needed for measuring the
integrity and its standard for
implementing strategic plans.
Moving into action:
Planning process is all about
detail which helps the
managers from extensive
budget projection and its chart.
It mainly highlights
productivity on time. Various
aspects like executive, sales
manager and executive mainly
take part in the planning which

10STRATEGIC PROJECT MANAGEMET
is needed for covering the
consumer base. The pressure
is produce to report which
needs to be included in the
given strategic plan. Strategic
plans are considered to be
successful when both aspects
are taken into consideration
like accountability procedure
and implementation.
Plan visibility:
Strategic plan are considered
to be very important but if its
implementation needs to be
feasible in nature the output is
considered to be futile. It is
vital for various strategic
planner for carrying out run
break-even analysis. It is
mainly needed for
understanding the financial
aspect of each and every
important parameter. Financial
analysis shows how the
business needs to be covered
which is due to cost of capital
improvement (Aničić, Petrović

11STRATEGIC PROJECT MANAGEMET
and Aničić 2016).
Development of strategies
for reaching there
Various organization
like BIG AT GOOD
SOLUTIONS are looking for
development of some strategic
plans. The organization aims
in creating a vision for the
upcoming future and proper
strategies for reaching there.
But a large number of
organization fail to understand
their vision and fail to deliver
the expected strategies for this.
Various executive teams
cannot highlight the reason for
the given dilemma which can
repeat strategic planning cycle.
It is mainly done so the
following strategic planning is
mainly required which can
provide much better results.
Engagement:
Strategic planning is generally
stated as a process or not an
event. The key element in this

12STRATEGIC PROJECT MANAGEMET
method is all about
engagement of various level
through the given
organization. Staff
engagement is all about
additional kind of input which
is helpful in building a better
kind of commitment for the
end plan which is provided.
1. Communication:
Strategic planning
method is stated to be
successful when
proper communication
is there between top
and bottom. It mainly
starts with a proper
kind of
communication which
is required by various
level of employees. It
is all about having a
proper kind of
strategic planning
process which needs
to be taken into
account (Chung, Bao

13STRATEGIC PROJECT MANAGEMET
and Shaw 2016).
Employees of BIG AT
GOOD SOLUTIONS
can easily provide
input for strategic
planning method. It
can be done with the
help of various
feedback surveys,
meetings and lastly
proper groups. It is all
about regarding the
various ideas and
concept of
organization direction.
2. Innovation: Strategic
plan is all about
including a list of
strategies which is
needed for delivering
products or services
and lastly
reconstruction of any
department. The
organization can
easily put certain
number of individual

14STRATEGIC PROJECT MANAGEMET
in together (Roussas
and McCaskill 2015).
It focuses on certain
number of initiatives
which provide
assurance regarding
the success of invested
money. Organization
like BIG AT GOOD
SOLUTIONS
emphasize their
worker to be
innovative in nature.
The organization aim
in building certain
number of strategies
for the given product
and services
(Schwieger 2015).
The organization may
fail to develop certain
number of strategies
which is needed for
innovation. It is all
about reshaping the
structure of the
organization to be

15STRATEGIC PROJECT MANAGEMET
innovative in nature.
3. Project
management: As
soon as the strategic
plan is all about two
elements which are
related to project
management. One of
the best step is all
about identifying the
needs of the project so
that its execution of
each of the strategy
can be done
(Jayawardena and
Rathnayaka 2016).
Second method is all
about developing a
priority for the given
project. It is mainly
done so that high
priority can be given
to proper kind of
resource which is
needed for success. It
requires a proper kind
of involvement and

16STRATEGIC PROJECT MANAGEMET
commitment on
employee portion so
that they can easily
spend certain amount
of time of projects.
Culture: Organization
culture comes up with high
altitudes, beliefs and value of
various employee. Culture of
the given organization is
considered to be unique and
diversification of individual
personality (Kerai and Saleh
2017). If the employees
believe that the given change
is feared and avoided, then
implementation is reactive in
nature (Effendi, Soebijono and
Rahmawati 2018).
Big At Good Solutions

17STRATEGIC PROJECT MANAGEMET
Balanced Scorecard Matrix
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18STRATEGIC PROJECT MANAGEMET
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19STRATEGIC PROJECT MANAGEMET
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20STRATEGIC PROJECT MANAGEMET
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21STRATEGIC PROJECT MANAGEMET
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22STRATEGIC PROJECT MANAGEMET
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23STRATEGIC PROJECT MANAGEMET
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24STRATEGIC PROJECT MANAGEMET
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25STRATEGIC PROJECT MANAGEMET
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26STRATEGIC PROJECT MANAGEMET
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Development Timeline
Development Steps per Week 1 2 3 4 5 6 7 8 9 10 11 12
Step 1: Establish Strategic Goals
Step 2: Identify 3 to 5 Strategic Themes
Step 3: Build a Strategic Map

27STRATEGIC PROJECT MANAGEMET
Step 4: Define your Metrics & Targets
Step 5: Identify your Programs
Step 6: Create an Implementation Plan
Establish Strategic Goals
Criteria Menu Define Goals
Marketplace
Industry Trends
Technology
Competition
Past Performance
EXAMPLE- We will increase revenues by 40 per cent over the next three
years
The main steps included in implementation of the balanced scorecard have been listed below:
1. Providing of clear and concise overview of the strategy and the objectives of the organization.
2. Secondly comes the development of the strategy map (Singh and Sohani 2014). This is one of
eth tool that is used for eth purpose of translating the strategy into operational terms. A
graphical representation would be provided consisting of the cause and the effects between

28STRATEGIC PROJECT MANAGEMET
the strategic objectives. This would also be showing the ways by which the values for eth
customers and the stakeholders are created.
3. Amending of the scorecard if necessary: the Organization firstly needs to determine the
strategic goal that is to be adopted and for this particular organization it is the adaptation of
new innovative ways along with being agile and having increased responsiveness towards the
requirements of the clients (Muda, Erlina and Nasution 2018). All this are to be measured.
4. Finalization of the implementation plan.
5. An implementation plan is to be produced and this plan is to be communicated amongst all
the employees. Everyone in the organization is to be informed and it is very vital to
communicate all the employees. The potential benefits are to be put forward along with
making sure of the fact that everyone in the organization is aware of the roles that they are
going to play while achieving the organizational goals (Ratnasingam 2014).
6. Reviewing and revising of the system is also essential. This needs to be done so as to access
the success or to review the gathered information or the action that is taken. This would help
in understanding if any type of future modifications are needed or not.
Risk management
The risk management needs to be done properly for every organization. The risk management
deals with investigating and evaluating the risks and mitigating this risks so that less impacts can
occur (Fernando et al. 2018). These becomes very much necessary to understand and manage the risks
on time for every organization. Risk management is the process that involves identifying and focusing
the risks that are likely to arise with time in the organization. Thus this becomes very much necessary
to understand the preventive measures. Risk are being assessed as the occurrence of an activity in the
future that have the ability to harm the organization (Sreelakshmi and Rao 2017). The necessary steps
that are needed to be implemented within the organization includes identifying the risks at the first

29STRATEGIC PROJECT MANAGEMET
stage then comes assessing the probability and likely severity of these risks , developing strategies for
managing these risks and finally implementation and monitoring the risk management plan are the last
step. There are several kinds of risk that arises with the implementation of balance score card. The
main use of a balance scorecard is to implement strategy. This is the department of the management
team to develop every type of strategic management and this also includes risk management
strategies(Syahdan, Munawaroh. and Akbar 2018). Thus this becomes necessary to implement ways
that will help to mitigate the risks, develop changes and improve the capability by re-defining the
targets, actions and initiatives. Thus it is expected that with the operational strategies the balance
score card will also include risk management strategies.
The different types of risks that are needed to be identified includes the question that arises
with safety towards the finance and also the risks that are associated with health and safety. There are
also chances of fraud cases and risks related to the regulatory. In addition to all this risks there are
risks related to the operational risk, market risks and many more risks. After identifying the risks, the
organization needs to address the risks, the risk needs to be strategies and the balance scorecards
needs be designed similarly (Fooladvand, Yarmohammadian and Shahtalebi 2015). These will include
all the strategies and the mitigating section. The risk management needs to be analysed based on the
four parts of the balance scorecard maintained. The financial department works with an objective of
increasing the net operation profit. This involves completing the project t within a time period.
There are high chances of risk in these particular part of the balance score cards. As these
department maintains all the databases related to the finance, thus this section needs to be handled
with extreme care, the information stored within this database are very much crucial and confidential
(Dagman and Frykman 2015). Next comes the customer, the aim of these art if to improve the
customer satisfaction and provide best customer service. Customer satisfaction needs to be taken care,
as the products built are for the customer and this is very much necessary to build a product that will
be beneficial for the customer (Tizroo et al. 2017). The risk assessed with this part is also having high
priority and needed to be mitigated on an urgent basis. The next factor of the balance score card is the
internal process, the priority of the risk assessed for this is medium. This involves assign the task and

30STRATEGIC PROJECT MANAGEMET
diving it among the workers of the organization. The last factor is the learning and growth and this has
risk in medium level. The risk management strategies are very much important for every step
(Saraswat 2014). The organization needs to hire a consultant that will provide appropriate strategies in
order to mitigate these problems. The new balance score card developed will be helpful to assess the
risks (Boscia and McAfee 2014). The balance score card includes the risk assessment and also the
priority of the risk. The future application of this is that it will be helpful to assess the risks associated
with the organization easily. Moreover with the implementation of the balance scorecard, the activity
can be determined easily and all the activities can be assessed easily. The balance score card will be
very much useful for the organization BIG AT GOOD SOLUTIONS (Tan, Zhang and Khodaverdi
2017). These will help to identify and improve the several internal functions performed and the
resulting external outcomes. The implementation of the balance scorecard will help to determine all
the aspects clearly.
Conclusion
BIG AT GOOD SOLUTION is one of the traditional company that is consisting of 356 staffs
and because of the increased rate of competition the organization is finding it difficult to compete.
The major reason for this that the larger companies are more innovative along with being agile.
Besides being agile the larger companies are much more responsive towards the requirements that the
clients are having. Along with this another major problem which is faced by the organization is that
the experiences and the good employees are leaving the organization. In this report a balanced
scorecard has been created which is depicting the departments and their business strategies. Besides
this the report has also been associated with discussing about the various positive as well as the
negative impacts that the adaptation of the balanced scorecards would be having upon the
organization, BIG AT GOOD SOLUTION’s existing business strategy. Balanced scorecards are
generally considered to be the strategic tool that is to be used by the organization, BIG AT GOOD
SOLUTION for not only measuring the performance but also for the purpose of defining the strategies
that are to be adopted by the organization for the purpose of improving the performance as well as the
profitability of eth organization. This adaptation of the balanced scorecard helps in the translation of

31STRATEGIC PROJECT MANAGEMET
the strategies into operational terms. Certain processes like the strategy mapping and the balanced
scorecard is associated with tackling the various kind of deficiencies existing in the tangible asset
measurements systems. The business should adopt certain strategies in order to make the balance
scorecard implementation successful. For this reason it is essential for eth employees to understand
eth strategy along with conducting their various routine jobs so as to contribute for accomplishing the
various goals of BIG AT GOOD SOLUTION.
Besides this the report has also been associated with highlighting the various kind of risks that
are likely to be faced. After identification of the risks certain mitigation strategy has also been
provided in the report that would be helping in mitigation or elimination of all the possible risk that
are likely to be faced. Some of eth future recommendations includes the usage of other business
management simulators so as to eliminate the various problems related to calibration. Another
recommendation is the enlargement of the samples so as to perform parametrical statistic tests. It will
be very much helpful if the organization sets the correct measures and preventive measures from the
beginning itself. Combining of the business processes with the business scorecard is considered to be
a fresh initiative. A strategic management process would be implemented if the organization BIG AT
GOOD SOLUTION is associated with the adaptation of the balanced scorecard. Apart from all this,
there is a need to appoint a consultant who will provide complete help and training for the employees
and will also look after the balance scorecard. This will help to maintain and update the score card
frequently and will also help to get the overview of the organization. So by adaptation of the proper
risk management strategy along with the balanced scorecard would be helping the organization BIG
AT GOOD SOLUTION to perform in an efficient and effective of working.
From the above report it can be concluded that with the implementation of balance scorecard,
it will become easy to maintain the details. The importance of the balanced score cards are, it focuses
on the strategic objectives followed by the organization, selection of the data used and the collection
of financial and non-financial data. There are total three generation of balanced score card that are
being available. However, these report has discussed about only the first generation balanced score
card.

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33STRATEGIC PROJECT MANAGEMET
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