Measure

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In a Balanced Scorecard the strategy is articulated as an objective. To monitor progress against the strategy each objective should be measured and tracked by a quantifiable data element. A measure should include a statement of the unit to be measured ($, headcount, %, rating, periodicity (monthly, quarterly, annually)and a graph format (bar chart, pie chart, or a more sophisticated chart). Measures are WHAT will be tracked and trend over time, NOT the actual targets such as direction and speed. Example:

• “Year over Year Sales ($)” (Financial)
• “Customer Satisfaction Rating” (Customer)
• “Service Error Rate (%)” (Internal)
• “Strategic Skills Coverage Ratio” (Learning & Growth)

A Balanced Scorecard will typically have 15-20 measures to support the 10-12 objectives on the strategy map.