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Elements and Performance Criteria

1. Develop strategy map for Balanced Scorecard operation
   • Develop strategic objectives of an organisation in consultation with stakeholders.
   • Check strategic goals and objectives include those which make the organisation unique.
   • Check with employees and customers that strategic objectives address real issues and problems.
   • Categorise strategic objectives into the major perspectives of financial, customer, process, innovation and learning, and growth.
   • Add additional required perspectives and associated strategic goals and objectives.
   • Map strategic objectives showing cause/effect flows.
   • Validate strategy map with stakeholders.
2. Develop KPIs
   • Identify possible KPIs for each strategic objective.
   • Identify/develop appropriate metrics for each KPI.
   • Agree target KPI levels.
   • Check measures and KPIs encourage the behaviours required to meet the total performance goals and objectives.
3. Develop reporting systems
   • Identify strategic and operational drivers.
   • Align KPIs to strategic and operational drivers.
   • Develop reporting structures which align responsibilities with reported information.
   • Arrange for data to be collected and Balanced Scorecard reports to be generated and distributed.
   • Arrange for reporting against strategy map.
4. Implement a Balanced Scorecard strategy
   • Analyse pattern of performance as revealed by strategy map.
   • Determine causes of poor performance as displayed by the Balanced Scorecard.
   • Take action to improve total performance.

Range Statement

This field allows for different work environments and conditions that may affect performance. Essential operating conditions that may be present (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) are included.
Competitive systems and practices include one or more of:	lean operations agile operations preventative and predictive maintenance approaches statistical process control systems, including six sigma and three sigma Just in Time (JIT), kanban and other pull-related operations control systems supply, value, and demand chain monitoring and analysis 5S continuous improvement (kaizen) breakthrough improvement (kaizen blitz) cause/effect diagrams overall equipment effectiveness (OEE) takt time process mapping problem solving run charts standard procedures current reality tree.
Organisation includes one or more of:	a whole organisation a discrete subsidiary, plant or division.
Additional required perspectives include consideration of all of:	workforce environment work health and safety (WHS).

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Performance Evidence

Evidence required to demonstrate competence in this unit must be relevant to and satisfy the requirements of the elements and performance criteria and include the ability to develop (new or improved) Balanced Scorecard for one (1) or more organisations/ departments/sections and facilitate its use to improve operational performance and to:

develop a strategy map for the Balanced Scorecard

develop key performance indicators (KPIs) which align to the Balanced Scorecard

develop reporting systems against KPIs, Balanced Scorecard and strategy

implement the Balanced Scorecard strategy.

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Knowledge Evidence

Must provide evidence that demonstrates sufficient knowledge to interact with relevant personnel and be able to develop and use a Balanced Scorecard, including knowledge of:

Balanced Scorecard principles, components, perspectives and feedback loops

development of KPIs which contribute to overall optimisation compared to those that don’t

development of a strategy map

metrics and reporting systems relevant to the Balanced Scorecard

strategic issues, including vision, for the organisation.

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