Scorecards can be created new, or based on settings in an existing scorecard. When creating a new scorecard, create the five key scorecard components in the following order:
-
Create or simply identify the that defines the strategic viewpoints of the scorecard.
Later, when you create objectives (step three in this illustration), you need to assign each objective to the perspective to which it contributes.
-
Create the scorecard itself to lay the foundation for the remaining components. You can create scorecards for an individual employee, an organization unit, or for the organization as a whole.
-
Create objectives to define what you want to achieve within each perspective.
-
Set up the measurements that define how you want to measure progress toward objectives.
-
Set for your measurements to define your goals and milestones toward your objectives.