I love Kaplan and Norton’s balanced scorecard concept and I have designed and implemented it several times for my clients. It calls for balancing traditional financial metrics such as cash flow and ROI with three additional dimensions: internal business processes (which I call operations), customers and learning and growth (which I call HR).
If your operations are projects (aerospace and defense, consulting and construction companies among others), then your metrics in internal business processes should be project-based metrics. I’ve developed a list of metrics that companies should use to monitor and improve project performance.
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