Using the Balanced Scorecard to Enhance the PPM Methodology and Balanced Scorecard

QSO 680 Module Four Team Activity Part I Guidelines and Rubric Overview: In the project management profession, if you have not already been part of a project team, you likely will be at some point i n your career. This activity is meant to simulate the opportunities and challenges of teamwork. The use of teams in business crea tes diverse views and experience s to address the issue at hand , most often leading to increased productivity and better problem solving. The most common challenge in teamwork is conflict , but if each member of a team shares a goal and an equal commitment t o the final outcome, the challenges can be mitigated. In this small group activity , you will discuss the use of a balanced scorecard to improve the performance of an organization. In Part II of this group acti vity, your team will create a balanced scoreca rd. Remember that the discussion is not the last step of the group activity. In Part II, the team must create a balanced scorecard for the final project case study by Sunday at 11:59 p.m. of your local time zone . Your discussion should be designed to lead to this final deliverable , providing plenty of time for feedback on the balanced scorecard from the team prior to submission. Note: You will be graded individually on your discussion and teamwork participation as demonstrated in the discussion forum. Prompt: According to Larson and Gray in Project Management: The Managerial Process (2014), “The balanced scorecard model differs from [project] selection models by reviewing projects over a longer horizon — 5 to 10 years after the project is implemented .” After reading the presentation Using the Balanced Scorecard to Enhance the PPM Methodology (and, if needed, the optional resources), check the announcements board to determine your group assignment and gather in your assigned discussion forum with your team. Requirements for Team Meeting: Your team meeting should be a dynamic discussion throughout the week. You should join your team as early in the week as possible, but you are required to join your team and make your initial post no later than Thursday at 11:59 p.m. of your local time zone . Use the guiding questions provided , guide your discussion. Your posts should be well -researched, illustrated with specific examples, and properly cited. Reply to members of your team on a timely basis and continue a lively discussion throughout the week. Remember that the discussion is not the last step of the group activity. In Part II, the team must create a balanced scorecard for the final project case study by Sunday at 11:59 p.m. Eastern Time . Your discussion should be designed to lead to this final deliverable, providing plenty of time for feedback on the balanced scorecard from the team prior to submission as well as input on the final deliverable. Guiding Questions:  Share your personal experience, if any, with the use of a balanced scorecard . Also share thoughts about how a balanced scorecard might be used in your current or former employment situation. If you prefer, you can research an organizat ion to answer this question rather than using your own experience.  How can a balanced scorecard be used effectively to make organizations more competitive?  What are the advantages and disadvantages in applying the balanced scorecard framework to the final project case study, Value -Driven Project and Portfolio Management in the Pharmaceutical Industry ? Specifically, the following critical elements must be addressed : 1. Share your personal experience with the balanced scorecard framework and thoughts about its usefulness using concrete examples from your own employment or research to illustrate your points. 2. Explain how a balanced scorecard is effectiv ely used to make an organization more competitive. 3. Applying the balanced scorecard methodology to your final project case study, what are its advantages and disadvantages ? 4. Participation in creating a balanced scorecard for the final project case study Ru bric Instructor Feedback: This activity uses an integrated rubric in Blackboard. Students can view instructor feedback in the Grade Center. For more in formation, review these instructions . Critical Elements Exemplary (100%) Proficient (90%) Needs Improvement (70%) Not Evident (0%) Value Balanced Scorecard Framework Meets “ Profi ci ent” cri teri a us i ng concrete exa mpl es from experi ence a nd/or res ea rch to i l l ustra te poi nts ma de Di s cus s es pers ona l experi ence wi th ba l a nced s coreca rd fra mework a nd i ts us eful nes s Di s cus s es pers ona l experi ence wi th ba l a nced s coreca rd fra mework a nd i ts us eful nes s but di s cus sion l acks s peci ficity a nd/ or i s perfunctory Does not di s cus s pers ona l experi ence wi th ba l a nced s coreca rd fra mework a nd i ts us eful nes s 25 Competitive Meets “ Profi ci ent” cri teri a us i ng concrete exa mpl es from experi ence a nd/or res ea rch to i l l ustra te poi nts ma de Expl a i ns how a ba l a nced s coreca rd contri butes to a n orga ni za ti on’s competi ti venes s Expl a i ns how a ba l a nced s coreca rd contri butes to a n orga ni za ti on’s competi ti venes s but l a cks deta i l s a nd/or rel eva nce Does not expl a i n how a ba l a nced s coreca rd contri butes to a n o rga ni za ti on’s competi ti venes s 25 Advantages and Disadvantages Meets “ Profi ci ent” cri teri a us i ng concrete exa mpl es from experi ence a nd/or res ea rch to i l l ustra te poi nts ma de Appl i es ba l a nced s coreca rd to fi na l proj ect ca s e s tudy a nd di s cus ses i ts a dva nta ges a nd di s a dva nta ges Appl i es ba l a nced s coreca rd to fi na l proj ect ca s e s tudy a nd di s cus ses i ts a dva nta ges a nd di s a dva nta ges but l a cks deta i l s a nd/or l ogi ca l a pplicati on Does not a ppl y ba l a nced s coreca rd to fi na l proj ect ca s e s tudy a nd does not di s cus s i ts a dva nta ges a nd di s a dva nta ges 25 Participation Meets “ Profi ci ent” cri teri a a nd contri buti on goes beyond expecta ti ons Ful l y pa rti ci pates i n the crea ti on of a ba l a nced s coreca rd for the fi na l proj ect ca s e s tudy Mi ni ma l l y pa rticipates i n the crea ti on of a ba l a nce d s coreca rd for the fi na l proj ect ca s e s tudy Does not pa rti ci pate i n the crea ti on of a ba l a nced s coreca rd for the fi na l proj ect ca s e s tudy 15 Articulation of Response Submi s s i on i s free of errors rel a ted to ci ta ti ons , gra mma r, s pel l i ng, s ynta x, a nd orga ni za ti on a nd i s pres e nted i n a profes s i ona l a nd ea s y -to- rea d forma t Submi s s i on ha s no ma j or errors rel a ted to ci ta ti ons , gra mma r, s pel l i ng, s ynta x, or orga ni za ti on Submi s s i on ha s ma j or errors rel a ted to ci ta ti ons , gra mma r, s pel l i ng, s ynta x, or orga ni za ti on tha t nega ti vel y i mpa ct rea da bi l ity a nd a rti cula tion of ma i n i dea s Submi s s i on ha s criti cal errors rel a ted to ci ta ti ons , gra mma r, s pel l i ng, s ynta x, or orga ni za ti on tha t prevent unders ta ndi ng of i dea s 10 Total 100%