Balance Scorecard for projects by Stewart (2001) Essay

Balance Scorecard for projects by Stewart (2001) - Essay ExampleOn the other hand, it open fire also be observed that the success of any particular project heavily draws on the surgical procedure of the people involved in that particular project. A project is often regarded as a mini organization as a result of the fact that it is more than structured and controlled. It can also be noted that different projects have failed to achieve their goals as a result of poor management.With a becoming performance measurement tool such as the balanced scorecard (BSC), organisations can clarify their passel through measurable goals and outcomes, (Shepko & Douglas, 1998 as cited in Stewart, 2000, p. 38). Against this background, this essay leave alone hash out the BSC as a more contemporary means of implementing the strategies of an organisation in order to operate viably with the aim of achieving its stated goals. The discussion pull up stakes heavily draw on the tap of Stewart, Kaplan and Norton, Ahn and Prastacos. Particular attention will be accustomed to the work of Stewart (2001) entitled Balanced scorecard for projects. The essay will critique journal the articles by these authors with the aim of discussing their views closely this matter which is related to BSC. The paper is structure in different parts and the first part deals with freehanded an overview of the topic in view of the ideas raised by different authors. In the master(prenominal), the essay will discuss the findings of different authors about the topic in question. The last part of the essay is based on a critical analysis of a case scenario of BBCL/El Nino/El Dorado. The discussion of this case study will heavily draw on the ideas raised by different authors mentioned above. A conclusion to give the main points discussed in the essay will be given at the end where a personal considerateness about the writers own perception about the topic will be given. 1.1 Overview of the topic Organisa tions are currently encountering a revolutionary transformation where industrial age competition is replaced by the data age competition. During the contemporary period, it can be noted that sophisticated financial control systems were developed to oversee efficient allocations of financial and physical capital. Thus, the need for a new approach to the evaluation of value human race of the organisations has led to the development of the balanced scorecard. According to Kaplan and Norton (1996), a balanced scorecard is a strategy that is utilize to supplement the traditional financial measures with other criteria that measure performance from three additional dimensions which include the pastime customers, internal business processes, learning and growth. The BSC can be used to transform the vision of the organisation towards the acquirement of its strategic goals. According to these authors, building a scorecard enables the organisation to link its financial budgets with its st rategic goals given that it will be easier to monitor the performance of the organisation as a whole through an outlined step by step process. Stewart (2000) suggests that the goal of every organisation is to do more, better,