Balanced Scorecard and Portfolio Management

Balanced Scorecard and Project Portfolio ManagementIn my previous blog, I suggested the potential use of project portfolio management (PPM) to achieve your own personal strategic objectives. Along with personal PPM, you can also consider incorporating a balanced scorecard—a strategic performance management tool.

Balanced scorecards typically include four general perspectives: financial, customer, internal process, and innovation and learning. If applied at the personal level, these perspectives can be replaced with personal, professional, community and financial to measure the effectiveness of your personal PPM.

Your personal perspective key performance indicators (KPIs) relate to your personal endeavours such as improved relationships, better appearance or excellent health. Earning a designation or getting a promotion falls within the realm of professional KPIs. Your desire to help underprivileged youth may be part of your community KPIs. Your financial KPIs may include getting rid of your debt or saving for retirement.

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2 thoughts on “Balanced Scorecard and Portfolio Management

  • 2009-10-21 at 19:04
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    Hey John,
    I took a similar approach in an article I wrote a few months ago for a Taiwan-based scuba diving magazine called EZ Dive. In that article, titled Reboot Your Dive Life, I suggested using the SMART approach to get some mojo back into a dive life that’s perhaps gone a bit ho-hum.

    That article is available on my blog at http://scubagirl15.wordpress.com/published-articles/

    Thanks for sharing your thoughts!

    Reply
  • 2009-10-23 at 14:25
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    Hi John, the approach sounds right one.

    I am currently working on my business plan for the next three years and I noted that I frequently crossed over into my personal life goals, so applying the concept of a balance scorecard as you detailed with the four segments noted makes all sorts of sense. I will be trying to complete my run at this coming week-end.

    Thanks.

    Reply

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