NURS 6241 Project Part 3 and Part 4 - Need A. Assignment Rubic Attached.
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Balanced Scorecard
The balanced scorecard is a strategic planning and management system that enables the users to assess and evaluate all areas of change through proper organization. In the achievement of a nursing change mission, the model may be used to help in achieving four main objectives. Firstly, a balanced scorecard helps in communication of the change agenda and helping in providing linkages in the main items of a change mission. Secondly, the scorecard will help management to align day-to-day work of every participant with the strategy of the group. The project team is also able to prioritize projects, products, and services in a way that contribute to the achievement of goals and objectives. Lastly, a balanced scorecard is a tool that helps in measurement and monitoring of progress towards strategic targets. The four main items that the scorecard helps in providing balances include fiscal matters, targeting of the customers, business practices, and learning and growth. The approach helps in avoiding overemphasize of one aspect towards achievement of a plan change (Balanced Scorecard Institute, 2017).
A group must evaluate whether the strategic changes they implement create any sound business results by evaluating every aspect of the balanced scorecard. The required results should be planned ahead of the implementation process making it possible to compare the outcome with the planned results. Through evaluation and control operations, a team may be able to enhance the achievement of the required results in an organization. For example, when the costs of a single task start surpassing the planned costs, it becomes necessary for the group members to reevaluate the process to ensure they are headed in the right direction (Sare & Ogilvie, 2010).
The essence of use of balanced scorecard is to ensure that a strategy is accomplished in the right way. One of the steps towards use of the approach in management of change is collection of information that is relevant to the accomplishment of strategies. Secondly, there should be proper benchmarking on past project to ensure that all the items included in the process of the management of change are included in the process of making a balanced scorecard. Further, there will be need to ensure that all the levels of the balanced scorecard are arranged in the right way and ensure that the participants are aware of what needs to be done ( Sunnybrook Health Sciences Centre, 2013).
Cost effectiveness of a change process is important in accomplishment of the strategic change process. Evaluation of the costs of the change process should involve a joint work of all the stakeholders in the balanced scorecard. Analysis of the fiscal measures of a process is important and should incorporate analysis of the cost-benefit ratio. Cost-benefit ratio analysis is important in the balanced scorecard since one will be able to understand the areas that should be eliminated to enhance success of the process. Additionally, there is need for the team members use the approach of a balanced scorecard to assess the impact of the proposed change. For the project in the healthcare sector, a proper balanced scorecard will have areas where the stakeholders can evaluate how the project will make an impact in the organization. To this end, a balanced scorecard will help in ensuring that each stakeholder is aware of the whole change process (Laureate Education, 2013).
References
Balanced Scorecard Institute. (2017). Balanced Scorecard Basics. Retrieved from Balanced Scorecard Institute: http://www.balancedscorecard.org/BSC-Basics/About-the-Balanced-Scorecard
Laureate Education (Producer). (2013a). The balanced scorecard approach [Video file]. Retrieved from the https://class.waldenu.edu
Sare, M., & Ogilvie, L. (2010). Strategic planning for nurses: Change management in health care. Sudbury, MA: Jones and Bartlett.
Sunnybrook Health Sciences Centre. (2013). Balanced scorecard. Retrieved fromhttp://sunnybrook.ca/scorecard/index.asp#sr