Balanced Score Card Inception
1) Choose a project. Define scope.
Project Name: Balanced Score Card inception.
Introduction/ Overview of the Project: The management introduced various new HR policies to be implemented across the entire plant, corporate and Business offices. Balanced Score Card inception into the Performance Management System of the higher level employees, including AGM and above (Level E13- E18), was one among such new renovated policies. A total of 195 employees were covered under the project. By redesigning the performance Management System for the higher level employees designated at the pivotal roles, the management aimed: a) to have a better track of performance of the employees in the four major areas: Customer, Financial, Process Improvement and Learning and growth. b) Besides, the same helped to gauge the difference between the targeted goals and actuals achieved. c) To trace the improvement areas. d) To scale the competencies, knowledge and skills of the employees for the required role. e) To link individual balanced Score Card of key employees with their Departmental and in turn Organizational strategic goals.
Project Organization: Management is the project sponsor, the PMS Dept. head is the Project manager and a consultant (to be hired )is the Project Champion and the HR Sectional Heads and the President HR formed the steering committee. Scope Statement, Version 1.0 November 4th 2012
Product Characteristics and requirements:
Balanced Score Card aims at measuring the performance of the key employees of the department through their contributions in the four areas: Customer, Financial, Process Improvement and Learning and growth. The performance assessment was scheduled to be done twice in an year.
The performance indicators in each areas are meant to be SMART (subjective, measurable, assignable, realistic and time- bound). Each perspective should have at least one performance indicator. Once
Project Name: Balanced Score Card inception.
Introduction/ Overview of the Project: The management introduced various new HR policies to be implemented across the entire plant, corporate and Business offices. Balanced Score Card inception into the Performance Management System of the higher level employees, including AGM and above (Level E13- E18), was one among such new renovated policies. A total of 195 employees were covered under the project. By redesigning the performance Management System for the higher level employees designated at the pivotal roles, the management aimed: a) to have a better track of performance of the employees in the four major areas: Customer, Financial, Process Improvement and Learning and growth. b) Besides, the same helped to gauge the difference between the targeted goals and actuals achieved. c) To trace the improvement areas. d) To scale the competencies, knowledge and skills of the employees for the required role. e) To link individual balanced Score Card of key employees with their Departmental and in turn Organizational strategic goals.
Project Organization: Management is the project sponsor, the PMS Dept. head is the Project manager and a consultant (to be hired )is the Project Champion and the HR Sectional Heads and the President HR formed the steering committee. Scope Statement, Version 1.0 November 4th 2012
Product Characteristics and requirements:
Balanced Score Card aims at measuring the performance of the key employees of the department through their contributions in the four areas: Customer, Financial, Process Improvement and Learning and growth. The performance assessment was scheduled to be done twice in an year.
The performance indicators in each areas are meant to be SMART (subjective, measurable, assignable, realistic and time- bound). Each perspective should have at least one performance indicator. Once
References: :1) http://ctb.ku.edu/ 2) http://project-management.learningtree.com/tag/project-communication-plan/ 3) An introduction to Project Management