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A Balanced Scorecard Model For Task Management Information Technology Essay

Content
  1. Literature Review
  2. Project and Task Management
  3. Project
  4. Project Stakeholders
  1. Source: Implemented from: PMI, (2004), PMBOK @ 2004
  2. Project Management
  3. Project Management Knowledge Areas
  4. Source: PMI, (2004), PMBOK @ 2004Project Performance
  5. Project Lifecycle
  6. Business Strategy and Project
  7. Source: Aaron Shenhar, Michael Poli, Thomas Lechler, "A New Framework for Strategic Project Management, 2004
  8. Performance Measurement
  9. Balanced Scorecard
  10. Strategy Map
  11. Figure 7 - AN AVERAGE Strategy Map and Targets Cause-and-effect relationships
  12. Strategy Management System
  13. Figure 8 - A Shut down Loop Management System for Strategy Execution
  14. Methodology
  15. Transferring Business Technique to Project
  16. Source: Adopted from: Klaus Niebecker, David Eager, Klaus Kubitza, "Improving cross-company project management performance with a collaborative task scorecard", International Journal of Managing Jobs running a business, Bingley: 2008. Vol. 1, Iss. 3, p. 368-386
  17. Source: Klaus Niebecker, David Eager, Klaus Kubitza, "Improving cross-company job management performance with a collaborative task scorecard", International Journal of Managing Jobs running a business, Bingley: 2008. Vol. 1, Iss. 3, p. 368-386
  18. Preparation of Project Strategy Map
  19. Figure 11 - A Typical Job Strategy Map
  20. Source: Klaus Niebecker, David Willing, Klaus Kubitza, "Improving cross-company job management performance with a collaborative task scorecard", International Journal of Managing Assignments in Business, Bingley: 2008. Vol. 1, Iss. 3, p. 368-386
  21. Performance Metric Selection and Categorization
  22. Development of Project Management Balanced Scorecard Model
  23. BSC Perspectives
  24. Customer
  25. Internal Project
  26. Growth/Innovation
  27. Project Lifecycle
  28. Initial Project Selection
  29.  
  30. End of Initiation Phase
  31.  
  32.  
  33.  
  34.  
  35. End of Planning Phase
  36.  
  37.  
  38.  
  39.  
  40. During Executing
  41.  
  42.  
  43.  
  44.  
  45. End of Executing Stage
  46.  
  47.  
  48. End Closing
  49.  
  50. During Leveraging
  51. Conclusions
More...

For a long time organizations are have been seeking to use performance way of measuring methods in their system because of the fact that a lot of time of professionals is consumed by gathering, handling, analyzing or reporting out data. Over time, it's been recognized a valid performance dimension system can help organization to identify its prospects and priorities, established strategies with goals and lastly planning and decision making.

Project Management Office, professionals, program professionals and project managers, and also other organizations may use performance measurement benefits to evaluate task team performance, process success, client perception, learning resource management and leveling within a or multiple job organization. By adding performance measurement to the job managers' skills, they can accurately evaluate task performance contrary to the mission and eye-sight of organizations. In addition, it helps project professionals to find and assess risks and determine the worthiness level creating for stakeholders.

These documents will focus the problems of the performance of your task, and integrity of performance measurement and task management. The research objectives for this study are figuring out performance metrics for project management included to amounts scorecard system; development of a well-balanced scorecard system with perspectives of job management; studying of use of created well-balanced scorecard system to judge projects.

Any prior work in the area of project and project management, and performance measurement will be illustrated in literature review. The procedure of the way the balanced scorecard and project management methodologies will be included is shown in methodology section.

Literature Review

Project and Task Management

Project

A job is a non permanent endeavor undertaken to create a unique service or product with an absolute start time and end (PMBOK @ 2004). This uniqueness is a consequence of the difference in some way from the "normal" product sent by an organization. Furthermore, every task is constrained in several ways by scope, time and cost and is also defined by discrete activities which are related to one another and linked mutually over the project lifecycle. Amount 1 shows the constraints of the project. In addition, a project consumes limited resources such as individuals, time, money, machines, facilities, and materials and requires specific skills to manage and execute and lastly produces tangible deliverables regarding to stakeholder's requirements.

Figure 1 - Job Constrains

Source: James Norrie, Derek H T Walker. , "BALANCED Scorecard Approach to Task Management Leadership", Task Management Journal. Sylva: Dec 2004. Vol. 35, Iss. 4, p. 47-56 (10 pp. )

Project Stakeholders

The task stakeholders will be the parties who've positive or negative effects on job performance and benefits. The major stakeholders have immediate authority to improve the components of the triple constraint. The Shape 2 illustrates the major stakeholders of a typical project. The number also implies that, an internal part of a business can recognized as stakeholders.

Figure 2 - Project Main Stakeholders

Source: Implemented from: PMI, (2004), PMBOK @ 2004

Project Management

Keeping tasks on-time, within budget and obtaining a high level of quality of range is difficult. Problems are due to poorly conducted evaluation and design, but many also suffer from poor control and management. Job management is the look, execution and controlling of task activities to achieve project objectives. Aims include time, cost and range or handling the triple constraints. Predicated on PMBOK @ 2004 classification, task management is the use of knowledge, skills, tools, and ways to project activities in order to meet or go beyond stakeholder needs or prospects from a task.

Project Management Knowledge Areas

Figure 3 - Job Management Nine Knowledge AreasBased on PMBOK @ 2004, there are nine knowledge areas for task management which take inputs from stakeholders including their needs and expectation and lead to job success by use of four central function including scope, time, cost and quality management and another four facilitating functions of human learning resource, communication, risk and procurement management with the direction of the previous but not the least area, job management integration. This subject obviously is shown on Amount 3.

Source: PMI, (2004), PMBOK @ 2004Project Performance

Project performance systems evaluate planned value against actual value of task performance, considering time and cost syndication to build up alarming system for managers (T. R. Collins, E. J. Montes, M. G. Beruvides, T. C. Maku, 2004). After use of dimension system, a job may call "on track", "critical" or "out of control" project is determined by the benchmark prices from its metric system. In "on the right track" job, all the actions are going predicated on the planned system and there is no significant difference in planned and actual beliefs in field of your energy, cost, quality or organizational goals. But also for a "out of control" project, there's a factor between prepared and actual prices and project needs a get up plan and huge work to steer it along the way. The several ways, typically, used to assess job performance such as attained value evaluation. The other measures such quality, organizational goals and quest also along as time passes and cost circulation can be utilized in performance dimension system which we will consider them in well balanced scorecard system.

Project Lifecycle

Figure 4 - Project LifecycleA job has a series of lifecycles. The simple model of lifecycle has four stages including initiation, planning, execution, and shutting out stages. An approval of completion of every period should be obtained before starting next stage. The Figure 4 illustrates the project lifecycle model and the amount of organization engagement and ingestion of resources within the lifecycle. The figure also shows ending gates of every phase and determines other approvals or methods that happen over the project lifecycle. This model can be so detailed but as an average model, all precise models have same concepts.

Source: Kevin Devine, Timothy J Kloppenborg, Priscilla O'Clock. , "Project Measurement and success", Journal of HEALTHCARE Finance. New York: Warmer summer months 2010. Vol. 36, Iss. 4, p. 38-50 (13 pp. )

Initiation stage is the first period of project lifecycle which include feasibility studies and determining objectives, opportunity, deliverables, risks, and distribution of cost and time. By approving job charter the initiating period would be end. The next thing is the look phase that your objectives of job subject to constraints are recognized. In this stage, execution plan, a planning report of all activities necessary to perform the task is well prepared which get approved through kick-off meeting. Following the planning phase, the project performing phase will start. The project will be monitored during execution phase predicated on the execution plan which originates from planning phase. There is a volume of benefits in monitoring and controlling a project. First of all, it provides alerts for the task supervisor and sponsor to be enlightened of the project's progress and also take corrective or precautionary actions to keep carefully the project "on the right track" and prevent to get "out of control". Second, it creates opportunities for job team and corporation to learn and develop from lessons learned during executing period. The final period is shutting out of project. During this phase, project managers often provide thorough summary information of everything and how that information suits up with the original execution plan. Additionally, the sign-off is probably the sole most important concluding document. The procedure of monitoring and control along with evaluation of task success, and learning and development can be facilitated by using well-balanced scorecard to way of measuring of project improvement through its lifecycle.

Business Strategy and Project

As it is pointed out, a task is a short-term company and process which includes been set to get specific goals under the certain constraints that happen to be clearly described on task plan. A task includes of goals, set ups, functions, and resources. Moreover, a job is a part of organization structure that ought to bears the organizational goal and target. Both the business level and corporate and business level strategies of group should translate to task goals. But how exactly is these strategies translated into what job structure? The task strategy is a conceptual missing link between the business strategy and the job plan which carries the task goals and aim (A. Shenhar, M. Poli, T. Lechler, 2004). The balanced scorecard is a tool to pay this space using the job strategy level on its composition. The Number 5 shows the links of project strategy through project plan and business strategies.

Figure 5 - Links of Task Strategy

Source: Aaron Shenhar, Michael Poli, Thomas Lechler, "A New Framework for Strategic Project Management, 2004

Performance Measurement

Studies have rivaled the importance of performance dimension in improvement of output. However, usually, organizational performance actions were financial such as cost and time but during previous decade, studies launched non-financial methods to give a larger scope for performance measurement systems. The best one is balanced scorecard system.

Balanced Scorecard

The Balanced Scorecard is an instrument to convert strategy into corporation operational and tactical plan which permit the organization to choose whether a task is going on strategy or not (J. Norrie, D. H. T. Walker, 2004). This technique has developed, put in place, and tested in several organizations through past ten years. It shows the machine validity in various organizations. Balanced scorecard system is developed and launched by Kaplan and Norton in 1992. They also include the financial measures along with non financial actions into balanced scorecard system. The financial measures represent the past performance and the non-financial measures represent the future performance.

Based on the Kaplan and Norton thought, the well-balanced scorecard has four main perspectives in performance area which can be shown in Amount 6:

The customer perspective (market share, customer satisfaction, customer retention).

The inside business perspective (circuit time, cost of services, job safety).

The technology and learning perspective (effectiveness of change to technology).

Figure 6 - Four Perspectives of Translation Eye-sight and StrategyThe financial perspective (revenue per share, earnings growth, profit development).

Source: Robert S. Kaplan, "Conceptual Basis of the Balanced Scorecard", Handbook of Management Accounting Research, 2009; 3

These four perspectives match the four basic questions: What is the organization take on customers' eyes? What exactly are the organization advantages? What corrective decision should make to add value? The way the business satisfies its shareholders?

Strategy Map

All the aims in four perspectives of healthy scorecard are associated in cause-and-effect relationships (R. S. Kaplan, 2009). The strategy map originates from the linkage between balanced scorecard targets and measures. Body 7 illustrates the structure of a typical strategy map and the linkages of aims in every perspectives. For implementation of a well-balanced scorecard system a strategy map of targets and actions should be built prior to selection of metrics for the aims.

Figure 7 - AN AVERAGE Strategy Map and Targets Cause-and-effect relationships

Source: Robert S. Kaplan, "Conceptual Basis of the Balanced Scorecard", Handbook of Management Accounting Research, 2009; 3

It is clear that the linkage of learning & development perspective is the weakest website link among strategy map which called "the dark opening of the healthy scorecard" for many years.

Strategy Management System

The strategic planning should link to operational execution in a strategic management system. Number 8 illustrates the composition of six level closed-loop management system which presents the described links. The six stages of the closed-loop management system are as below (R. S. Kaplan, 2009):

1. Develop the strategy 2. Translate the strategy 3. Align the organization

4. Plan procedures 5. Monitor and find out 6. Ensure that you change the strategy

Figure 8 - A Shut down Loop Management System for Strategy Execution

Source: Robert S. Kaplan, "Conceptual Basis of the Balanced Scorecard", Handbook of Management Accounting Research, 2009; 3

By employing this sixth stage, the strategy would be analyzed and kept up to date by internal operational data and exterior environmental data. It brings about setup another loop across the included strategy and functional management system.

The strategy and procedures would be included in such a balanced scorecard construction. The built-in closed-loop management system needs excellent coordination among all corporation parts due to existing of several moving parts and inter-relationships in such an integrated and extensive system. Current operations that are run by various part of the corporation like as budgeting by funding, personal goals and communications by human resources, and process management by procedures should be tweaked to align in proper objectives. Each one of these processes must established and work as a distinctive and designed system against working as segregated subsystems.

Methodology

This exploratory research effort to development of well-balanced scorecard model for task management in three phases:

The task management balanced scorecard is set up in four steps: levels, cause-and-effect human relationships, indicators, and last model.

Transferring business technique to project (Levels)

Preparation of task strategy map (Cause-and-effect romance)

Performance metric selection and categorization (Signals)

Development of task management balanced scorecard model (Model)

Transferring Business Technique to Project

Figure 9 - Three Degrees of Balanced Scorecard in Project ManagementThe degrees of well-balanced scorecard in job management are business strategies, strategic project goals, and task objectives including scope, quality, time, and costs (K. Niebecker, D. Keen, K. Kubitza, 2008). Physique 9 illustrates the hierarchical structure of the three levels.

Source: Adopted from: Klaus Niebecker, David Eager, Klaus Kubitza, "Improving cross-company project management performance with a collaborative task scorecard", International Journal of Managing Jobs running a business, Bingley: 2008. Vol. 1, Iss. 3, p. 368-386

Business proper goals in various layers with regards to the organization's framework, such as departmental, program, or stock portfolio objectives can drive the job goals and strategies (S. Sirvannaboon, 2006). Number 10 shows how a project well balanced scorecard can be derived, either from the business enterprise strategies or the task goals.

Figure 10 - Derivation of Job Balanced Scorecard

Source: Klaus Niebecker, David Eager, Klaus Kubitza, "Improving cross-company job management performance with a collaborative task scorecard", International Journal of Managing Jobs running a business, Bingley: 2008. Vol. 1, Iss. 3, p. 368-386

Preparation of Project Strategy Map

To determine and demonstrate the cause-and-effect connections between business goals, the concept of a technique map can be used in the task. The job strategy map can be an important aspect of the proper management of both organizations and assignments. It's the base of calculating the indicators of most functional areas in both historical performance and future perspectives areas. Physique 11 illustrates a typical strategy map for a task. To development of project strategy map, all task members should be engaged due to its importance among job planning process (K. Niebecker, D. Willing, K. Kubitza, 2008). Performance metrics and steps can be designed after exact developing of strategy map.

Figure 11 - A Typical Job Strategy Map

Source: Klaus Niebecker, David Willing, Klaus Kubitza, "Improving cross-company job management performance with a collaborative task scorecard", International Journal of Managing Assignments in Business, Bingley: 2008. Vol. 1, Iss. 3, p. 368-386

Performance Metric Selection and Categorization

There are a large number of sources for performance metrics by looking to the recent studies and researches in neuro-scientific project management well balanced scorecard, but predicated on PMBOK @ 2004, the four pillars of procedures of success for a task are as below:

Scope (strategies to meet targets)

Time (project schedules' issues)

Cost (task cost and budget's issues)

Quality (project deliverables' characteristics and specs)

Figure 12 - Steps and Associated Metrics for Project Management Balanced Scorecard

Source: Terry R Collins, Elliot J Montes Jr, Mario G Beruvides, Tosanwunmi C Maku. , "A Performance Model for Multiple and Simultaneous Projects", IIE Annual Conference. Proceedings. Norcross: 2004. p. 1-6 (6 pp. )

As we see before, all the four categories in Number 12 are parts of the nine knowledge areas of the PMBOK @ 2004. So, the decided on categories represent the most crucial issues for job managers while checking the performance measurement of a task.

Development of Project Management Balanced Scorecard Model

However, the original sequence of building a amounts scorecard system for project management from Kaplan and Norton is obviously documented, but we have to observe that in a project context, the well balanced scorecard should assess specific result of project instead of calculating the organizational overall aims (K. Devine, T. J. Kloppenborg, P. O'Clock, 2010). Therefore, our strategy must be changed to measure specific project deliverables and related aims which are correctly associated with strategy.

Consequently, we revised the traditional healthy scorecard perspectives the following to consider a realistic group of perspectives for job management:

Growth/innovation point of view: Are we prepared to meet any shifts in job technology and workers skills required to provide exemplary task performance?

Internal project perspective: Is our interior types of procedures meet our needs?

Customer point of view: Just how do the customers rate our job performance?

Time & Cost Point of view: How well is the job performing with respect to schedule? Is the project conforming to set budget constraints?

Figure 13 - Basic Model for Balanced Scorecard Methodology for Task ManagementThese sizes are the main areas of a job management which enable a project-oriented business to successfully execute its strategies while execution of projects. Therefore, these dimensions independent of their names and numbers are selected to develop a well-balanced scorecard system for job management. However, while building well-balanced scorecard system, it is important that the dimensions which can keep an eye on the organization business strategy should be considered.

Source: Kevin Devine, Timothy J Kloppenborg, Priscilla O'Clock. , "Project Way of measuring and Success: BALANCED Scorecard Approach", Journal of HEALTHCARE Finance. NY:Summer 2010. Vol. 36, Iss. 4, p. 38-50 (13 pp. ).

Figure 13 shows a simple model for balanced scorecard for job management. The model presents project analysis areas from the four modified scorecard perspectives: customer, inner project process, time & cost, and expansion/innovation. The described analysis areas are major criteria in Project Management Body of Knowledge (PMBOK) related to the job success or failures. To be able to develop the final model of balanced scorecard construction for job management we ought to expand this evaluation area.

For this goal, all quantifiable options in each period of any project's lifecycle should be considered in our well balanced scorecard model as well as the qualitative procedures from lessons learned (W. Steward, 2001). Physique 14 expands the essential model and illustrates the ultimate model for balanced scorecard construction in project management. It shows the detail measurement areas through the each stage of project's lifecycle. In each period may one or more factors are fundamental measurement which should be accurately driven and determined by project administrator depends on the business and project quality and proper goals in project planning stage.

BSC Perspectives

Customer

Internal Project

Growth/Innovation

Project Lifecycle

Initial Project Selection

Statement of Work

 

Business Case

Organization's People and System

End of Initiation Phase

Scope Overview

High-level Risk

Milestone Schedule

Team-Pre-assignment

Business Case

Commitment

Summary Budget

Previous Lessons Learned

 

Stakeholder Approval Criteria

 

 

 

End of Planning Phase

Requirements Documentation

Human Reference Plan

Schedule Baseline with Resources

Team Floor Rules

Scope Baseline

Change Management Plan

Cost Performance Baseline

Improve Management of Project Meeting

Work Malfunction Structure

Risk Management Plan

Project Kick-off

Communications of Management Plan

Risk Register

Quality Management Plan with Metrics

Procurement Management Plan

 

 

Project Management Plan

 

 

During Executing

Quality Control Measurements

Contract Awards

Performance Measures through Earned Value Analysis

Team Performance Assessments

Stakeholder Notification and Feedback

Performance Information

Project Termination Decision

Process Improvement

Project Studies and Records

Change Request

ROI

Re-planning

Validated Deliverables

Risk Register Updates

Lessons Discovered Application

 

 

Procurement Documentation

 

 

End of Executing Stage

Accepted Deliverables

Complete Project Deliverables

Project Termination Decision

Celebration

 

Initial Realization of Promised Benefits

 

ROI

Reward

End Closing

Ongoing Support

Final Transition of Job Deliverables

Contract Dossier

Capture Lessoned Learned

 

Customer Feedback

Closed Procurement

Final Project Accounting

Reassign Workers

During Leveraging

Full benefits Realized

Reuse

Auditable Result

Reapplication of Lessons

Source: Kevin Devine, Timothy J Kloppenborg, Priscilla O'Clock. , "Project Dimension and Success: A Balanced Scorecard Approach", Journal of HEALTHCARE Finance. New York:Summer 2010. Vol. 36, Iss. 4, p. 38-50 (13 pp. )Body 14 - Expanded Balanced Scorecard Model for Task Management

As it is discussed earlier, the expanded model shows key goals and steps at each phase of task lifecycle and the importance of each target and options varies depend on the organizations and assignments. Assessment can be carried out on project outset or on the other hand at the end of each phase where an approval report is required to pass the gates and go to the next stage (please start to see the job lifecycle section).

Conclusions

This paper is rolling out a model for leading to project success by using well balanced scorecard method of monitor and control of project performance during its critical milestones on its lifecycle. Evaluation of project through four perspectives of clients, interior project, time & cost, and growth & development in a well-balanced scorecard system would lead to project success making certain the project goals and final results are changed with organization's strategies. However, the project success with use of the well-balanced scorecard system also will depend on the carefully tasks selection and meaningfully alignment with the organization goals and strategy at past stages.

The well balanced scorecard procedure helps project managers and project groups to focus on the criteria and aims which identified because so many important to the project's strategic success and shows the job position whit organizational goals. Benefits result from improvement of communication between project sponsors and project managers, focusing on client needs, and individual and organizational learning and growth.

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