ABSTRACT
Robert S. Kaplan and David P. Norton developed the Balanced Scorecard approach in the early 1990s to compensate for their perceived shortcomings of using only financial metrics to judge corporate performance. Departments create scorecards tied to the company’s targets, and employees and projects have scorecards tied to their department’s targets. For project managers, the Balanced Scorecard is an invaluable tool that permits the project manager to link a project to the business side of the organization using a “cause and effect” approach. Portfolio management is usually performed by a Project Management Office (PMO). The PMO strives to standardize and introduce economies of repetition in the execution of projects. While most PMOs are independent of the various project teams, it might be worthwhile to assign to the PMO oversight of the social enterprising effort to ensure that there is some degree of standardization in terms of usage throughout the company.
