Managing projects - using the Balanced Scorecard

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The main thrust in Lean Activities is reducing waste. However, jumping straight in and cutting waste with lots of enthusiasm may not always resolve the full range of waste issues.

Simplifying procedures on its own is often not enough. There is also a need to take into account all the factors that make up the totality of "Lean". Like any other activity in the organisation, waste reduction needs to be balanced with respect to other activities and resources in the entire business process.

We at Greenfile Developments take a novel approach to Project Management. By using a Balanced Scorecard methodology, it is possible for each project to address waste reduction in the context of the complete business process rather than one unit operation.

The Balanced Scorecard is designed originally as a strategic management tool and it stayed that way for most users. However, we believe that it is equally applicable for smaller projects and will deliver substantial gains across the process value chain. The following illustration demonstrates the usefulness of this approach.

At the simplest level, a Balanced Scorecard approach can become a checklist for the project team. It is however, much more powerful when used as an integrated framework to implement Lean Operations.

Be ahead of the pack, contact us to find out how you can deploy a balanced Lean Operations programme.

Other resources: The Balanced Scorecard Institute

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