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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