ABSTRACT
This chapter examines the fundamentals of balanced scorecard as it relates to the precepts of project management. Balanced scorecard is examined in relationship to the organization and the people, processes, technologies, and products that are components of the organization's discrete projects, programs, and collaborative efforts. Quality management of projects in the International Standard is based on eight quality management principles: customer focus, leadership, involvement of people, process approach, system approach to management, continual improvement, factual approach to decision making, and mutually beneficial supplier relationships. A particular project is just one of many projects that will be implemented at any given time within a typical organization. A particular project might be one out of many projects for a specific program. If companies manage projects from an investment perspective—with a continuing focus on value, risk, cost, and benefits—costs should be reduced with an attendant increase in value.
