There are a number of methodologies which I should address. I am a firm believer that the in-house project team, having researched these methodologies, will follow the one that is best for them. At times it will be necessary to cut an exercise from one methodology and use it with an exercise from another methodology. That is both understandable and desirable.
Right from the start, organizations around the world were quick to see the benefits of a balanced-scorecard approach, and many organizations initiated projects. The groundbreaking work of Kaplan and Norton1 brought to management's attention the fact that strategy had to be balanced, needed to be implemented, and performance should be measured using a more holistic approach.
Unfortunately, many balanced-scorecard initiatives have failed. So how do you adapt and apply a balanced-scorecard approach and get it right the first time? We need to place sturdier support underneath the balanced-scorecard platform, as set out in Exhibit 18.1.
These four supports have been discussed ...