A process-driven organization – one that undertakes to create efficiencies and improvements in how it does business – is well-positioned to explore adoption of a Balanced Scorecard. As a matter of fact, if your shop is toying with the idea of adopting the Balanced Scorecard and you aren’t also employing Workflow and Business Process Management (analysis and improvement) then you’re wasting a valuable opportunity.
Balanced Scorecard Measures
The Balanced Scorecard measures operational efficiencies so it’s a bit of a no-brainer. If you haven’t already done some reading on the topic, you ought to. The two approaches are rather symbiotic. The Balanced Scorecard also looks to customer measures of satisfaction with such things as quality of experience and product, financial measures like cost of doing business and growth measures (new clients, etc.) I guess I would recommend both simultaneously because, after all, when you measure change, you have to have a change methodology and when you have change methodology you want to have measures to demonstrate your effectiveness.
Having been through both approaches (BPM and Balanced Scorecard) I recommend that you and others in the organization get some professional training. The Balanced Scorecard, especially, is too strategic and measures too many variables for the average business analyst. It reaches far beyond but encompasses typical BPM and workflow improvement activities.
Take advantage of the status – frankly – that Balanced Scorecard offers the workflow and BPM team. It’s a quick way to promote what you’re doing at the executive level where the drive and leadership exist. By embracing it yourselves, you’ll impress your superiors and ultimately find that the budget for what you’re after will be richer by virtue of the your strategic importance.
Strategy is King
Having said that, be mindful that your project will need to meet Balanced Scorecard imperatives for strategic importance!