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Managers and project managers gauge the success of any project undertaken through a new project scorecard. In the development of this scorecard, relevant metrics would have to be pre-determined.
Most companies see the need to use scorecards in order to assess and measure how corporate efforts contribute to overall organization objectives. These tools of measuring performance are deemed to be mandatory, especially with the implementation of new projects or tasks. Focus of corporate executives should not only be limited in scorecard development but also in strategy implementation. Nevertheless, designing a scorecard that is most appropriate to an organization is not an easy feat.
In designing a project scorecard, corporate executives should first ensure that operational plans implemented are consistent with the preferences and needs of the end clients. These plans as well as metrics identified should not contradict with each other. While in the process of project scoreboard development, corporate executives and managers are urged to follow the Balanced Scorecard management approach. This concept was introduced by David P. Norton and Robert S. Kaplan back in 1992.
This aimed at the assessment and evaluation of corporate activities in terms of overall strategy and vision. The use of the Balanced Scorecard approach involves focus on four sections, or perspectives as they are also called. These perspectives include the customer perspective, learning
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