This presentation shows how balanced score card has been used to monitor and control project management operation.

1. Sample Balanced Scorecard for
Project Management

2. Key Performance Indicator Target Remarks Why it is important
Time Management Perspective
Leading Indicators
Expected Schedule Performance Index for
Critical Path (EX SPICP)
>1
Value of worked planned in Critical Path to be completed in Next
Month /
Value of Planned worked in Critical Path to be completed in Next
Month as per the baseline
Monitor the planned performance on the
critical path for coming month. If the Value is
below the targeted, it means project is going
to be delayed in next month.
Number of Changes in Schedule
<3
This can be monitored from the revisions with the project schedule
and benchmarking figure to be decided as per the company past
performance.
This highlights accuracy of the project
baseline / how often baseline get changed.
Tasks Completed Delayed Planned
Duration
<10% Duration of Tasks Delayed / Duration of Total Tasks Completed
Potential variation of Scheduled duration.
Pending Works Slack Ratio >1
Total Slack for pending works at Last Month / Total Slack for Pending
Works as per Project Baseline
This indicates if the project critical path is
going to change because reduction in slack
shows noncritical activities getting delayed.
Lagging Indicators
Past Schedule Performance Index for
Critical Path (P SPICP)
>1
Value of work in Critical Path Executed in Last Month / Value of
Planned worked in Critical Path in Last Month as per the baseline
This shows that how much results were
achieved in critical path against plan, how
critical path is time goals are achieving against
time plan.
Schedule Performance Index >1 Earned Value of Works Completed/ Planned Value of Works
Completed
How generally project is achieved time goals
Duration to Complete Ratio <1
Critical path Works Required Duration / Available duration to
Handover.
To show that project is moving toward to
completion date and duration available for
longest work path.
TBD : To be decided by the PM

3. Key Performance Indicator Target Remarks Why it is important
Cost Management Perspective
Leading Indicators
Billing Efficiency =1 Cost Value of Bills Raised / Value of Works Done To receive the cash, bills need to be raised
Cash Flow Index =1 Total Funds Received /Total Value of Bills raised To manage the cash flow into the project
Estimating Accuracy <1 (Actual Cost – Reworks)/Estimated Cost for works Done To see the how accurate the estimations are
and how much additional cost may occur.
Safety Cost Index TBD Safety Expenditure in Last Month/ Total Budgeted amount for Safety
activities in Last Month
To make sure constant focus is maintained
for safety and
Quality Cost Index TBD (Expenditure for Quality works in Last Month – Reworks cost in last
Month)/ Total budgeted amount for Quality management
Continuous Quality Improvement is done
Lagging Indicators
Cost Performance Index >1 Actual Value of Works Done/Earned Value from Work done To see the overall financial health of the
project
Expected Project Closing Cost TBD (Actual Cost) *(1+ (Total Budgeted Value-Earned Value of Done) /
Earned Value of Work Done
If the trend continues. Target to be defined.
Next Month Cash Flow >1 (Allocated Cash Reserve for the Project+ Payment receivable in coming
two Month)/ Value of Work to be done in Coming Three Months.
Expected Reworks Cost TBD (Reworks Cost/Estimated Value of works done) * Total Value of the
Project
Figures to be decided for milestones.
Variations ratio 1 Value of variations done / Value of work done in Changes Approved To monitor variations are billed and added
and done properly.

4. Key Performance Indicator Target Remarks Why it is important
Scope Management Perspective
Leading Indicators
Admin & Skilled Staff Ratio =1 = Actual available Skilled Staff for Last Month Works Estimated / Total
requirement of Skilled Staff for Last Month Works
To make sure fewer quality issues
raised and less reworks are done.
Problem Solving Efficiency =1 = Concerned solve at Last Meeting/Concerns was to be solve at Last Month
Meetings
progress works without delays by
solving problems are prioritizing.
Risk Register Duration <1 = Workdays from Last Risk Register reviewed / 20 Make sure monthly risk register is
reviewed and updated.
Scope Update =1 = Latest Work Breakdown Structure Number / Latest Approved Change Number This indicates how project scope
management documents are updated.
Milestones reviewed meetings =1 =Number of Milestone Meetings held/ (Millstone passed +1)
Milestone Meeting
When a new milestone is ended the team is gathered and meeting is held. This is to ensure team
members are aware of their role in the next milestone, risks ahead and what mistakes they made in last
milestone to perform well.
Make sure everyone in the team is
aware about the scope of works.
Lagging Indicators
Reworks Percentage TBD =Value of Reworks done/ Value of Total Works Done Identify the how much reworks are
done.
Clients Feedback in Last Milestones TBD = 1 – 5 rating from a surveyor Identify how smooth works are
progressing in client’s prospective.
Variation Requested TBD =value of variations approved / value of variations requested

5. Key Performance Indicator Target Remarks Why it is important
Change Management Perspective
Leading Indicators
Change Acceptance Ratio 1 = Changes Approved / Changes Requested To identify the how well change request
process is progressing and how efficient is it.
Average Change Request Pending time TBD = Total Duration for the change requesting pending/ Number of Change
Requests pending
To see how long it takes to get a respond for
a change by Change Advisory Board
Number of Emergency Changes Increment ratio <1 =Urgent Changes Raised This Month/ Urgent Changes Raised Last Month How number of urgent changes are
increasing.
Change Approval Awareness 1 =Number of changes Awareness Memos or meeting /Number of Changes
Approved
How many changes have been informed to
the team Leaders, and receives their
feedback?
Lagging Indicators
Change Request Ratio TBD =Value of Change Request / Total Project Value This is highlight what is the scale of the
changes happening compares to the project
operation.
Pending Urgent Changes TBD =Number of Urgent Changes raised – Number of Urgent Changes Solved To see whether how many urgent change
requests are pending a decision.
Delayed Change Requests TBD =Delayed Change Requests / Total Change Requests To see how often feedback for the changes
are getting delayed.
Loss of Value of Poor Change Management TBD Loss of Value due to Delayed Responds to Changes and Reworks/ Total Project
Value
To see how much value loss is due to weak
change management.
Pending Changes Request TBD Total Changes requested -Total Changes Commented Pending changes Requested to be