Most of the challenges in organizations today emanate from strategic planning. This presents the organizations with a dilemma on whether to do strategic planning internally or to hire an outside consultant to guide the organization through the in-house initiatives of planning. As such, organizations implement the balanced scorecard, BSC to drive performance thereby transforming the strategic objectives into a set of performance measures. Companies are widely applying the BSCs as tools for strategic planning as well as quality management systems. The BSC is composed of some elements of the traditional financial metrics providing a company’s history which means that companies should monitor their performance against the set goals and objectives (Kaplan & Norton, 2005).
In the case of …show more content…
Traditional BSCs involve internal sharing of goals within organizations while the T5 project scorecard incorporated diverse teams from outside the organization, such as suppliers and contractors. As such, the BAA wanted the T5 to be delivered according to the plan and with precision. The T5, unlike the traditional BSCs passed through a vigorous process of tests and studies of past studies to make sure no errors were made and in case of any problems, solutions could be gotten on time. Moreover, the project used different teams from different organizations with steps being taken to ensure uniformity for the interpretation of the project goals and objectives. As opposed to the other BSCs, the T5 involved expression of ideas, free communication, and partnership involving an agreement between the stakeholders to incorporate a 4-tier approach. Further, the T5 was different for it allowed for accurate measurement and performance monitoring through identification and alignment of the best practices with the quality KPIs as well as non-conformance
In the case of …show more content…
Traditional BSCs involve internal sharing of goals within organizations while the T5 project scorecard incorporated diverse teams from outside the organization, such as suppliers and contractors. As such, the BAA wanted the T5 to be delivered according to the plan and with precision. The T5, unlike the traditional BSCs passed through a vigorous process of tests and studies of past studies to make sure no errors were made and in case of any problems, solutions could be gotten on time. Moreover, the project used different teams from different organizations with steps being taken to ensure uniformity for the interpretation of the project goals and objectives. As opposed to the other BSCs, the T5 involved expression of ideas, free communication, and partnership involving an agreement between the stakeholders to incorporate a 4-tier approach. Further, the T5 was different for it allowed for accurate measurement and performance monitoring through identification and alignment of the best practices with the quality KPIs as well as non-conformance