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Craig Schiff

I am very excited about this opportunity to share my perspectives and experience in my BeyeNETWORK Blog. For those of you who may not have read my articles and newsletters over the past few years, I hope you will appreciate a vendor-independent perspective on all things related to Business Performance Management (BPM). I focus on key topics organizations should consider throughout their BPM project lifecycle, from early stage requirements definition and justification, key measure development, vendor selection and finally, successful deployment and rollout. Of course, market trends and vendor updates will also be part of the mix. Please stop by on a regular basis to see what's new, and to make this interactive, please share your opinions. If you have a specific question, contact me directly at cschiff@bpmpartners.com.

About the author >

Craig, President and CEO of BPM Partners, is a pioneer in business performance management (BPM). Craig helped create and define the field as it evolved from business intelligence and analytic applications into BPM. He has worked with BPM and related technologies for more than 20 years, first as a founding member at IMRS/Hyperion Software (now Hyperion Solutions) and later cofounded OutlookSoft where he was President and CEO.

Craig is a frequent author on BPM topics and monthly columnist for the BeyeNETWORK. He has led several jointly produced webcasts with Business Finance Magazine including "Beyond the Hype: The Truth about BPM Vendors," the three-part vendor review entitled "BPM Xpo" and "BPM 101: Navigating the Treacherous Waters of Business Performance Management." He is a recipient of the prestigious Ernst & Young Entrepreneur of the Year award. BPM Partners is a vendor-independent professional services firm focused exclusively on BPM, providing expertise that helps companies successfully evaluate and deploy BPM systems. Craig can be reached at cschiff@bpmpartners.com.

Editor's Note: More articles and resources are available in Craig's BeyeNETWORK Expert Channel. Be sure to visit today!

Let me start by answering my own question: yes it does. The real question is - does it deliver enough value to justify its costs in time and resources and consulting dollars. As the KPI (key performance indicator) development practice has grown at BPM Partners I have seen numerous companies consider the Balanced Scorecard methodology. Many others have proceeded to develop KPIs without using this approach. Here's the thing that troubles me: those that have adopted the Balanced Scorecard methodology have taken much longer to reap the rewards. In at least one instance it has delayed the start of the project by a year - the customer in this case views it as a large undertaking and just hasn't had the bandwidth to focus on it, so nothing has happened. In that same time period many other customers who have chosen not to pursue the Balanced Scorecard approach have developed their KPIs, loaded up their dashboards with them , and now are running the business with a new focus on performance. Don't get me wrong, the Balanced Scorecard does many things right including getting you to balance your internal and external focus and looking at both leading and lagging indicators. However, with the appropriate knowledge and guidance you can do much of that without all the rigor and investment required. I'd be interested to hear from those of you that have implemented dashboards to learn whether or not you used the Balanced Scorecard approach, how long your project took, and how successful you feel it was in the end.


Posted August 3, 2006 8:20 AM
Permalink | 2 Comments |

2 Comments

There is an excellent article on Balanced Scorecard, have a look:
What is Balanced Scorecard? What are the main aspects of Balanced Scorecard? How to write Good Balanced Scorecard analysis of a company? Where to find information for Balanced Scorecard?
http://www.coursework4you.co.uk/balanced_scorecard.htm

Yes, Craig, I agree. The Balanced Scorecard approach can be cost prohibitive just as any major corporate intiative can be if not implemented carefully. I also agree there are other processes to achieving the same outcome of creating KPIs. I think the main thing to consider when implementing a enterprise-wide initiative is to ensure adequate focus on project management. The Scorecard process should be managed with a strict discipline of project mgmt, which will harness the initiative and keep the dreaded scope creap from immobilizing it. My firm has implemented many Scorecards across a variety of organizations, as well as functional groups. We have had success and we have had mediocrity. However, we have learned to approach the project with discipline and only implement when we have solid project management resources available.
For more information about strategy and creating corporate value go to www.mybilliondollarfruit-stand.blogspot.com

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