Compare and contrast the balanced scorecard utilized by the British Airport Authority (BAA) at Heathrow Airport's Terminal 5 project with the standard quadrants typically applied in a traditional BSC approach.
The terminal 5 project was a large, public construction project using private contractors.
Consider how the T5 project adapted the BSC approach to fit the prevailing circumstances to help formulate your arguments.
Discuss to what degree the evidence suggests the balanced scorecard approach is amenable to most organizations.
Conclusion: Wrap up your argument with a clear and cogent synopsis of the findings.
3 to 4 pages in length, list references.
Basu, R., Little, C., Millard, C., (2009). Case Study: A fresh approach of the Balanced Scorecard in the Heathrow Terminal 5 project. Measuring Business Excellence. 13(4). 22-33. Retrieved from: http://www.perf-ex.co.uk/wp-content/uploads/2012/04/T5-case-study-MBE-papaer.pdf© BrainMass Inc. brainmass.com December 20, 2018, 10:50 am ad1c9bdddf
The balanced scorecard has long been a staple of business communication for many years (Evans, 2002). A Balanced Scorecard transforms how a strategic plan is implemented by pulling all of the information a company needs together in an understandable fashion. There are various applications for the scorecard, but it is typically a standard diagram that outlines how internal workings and education produce customer service and increased profits. In the development of the Heathrow Terminal 5 project a unique perspective of the Balanced Scorecard can be seen. The Heathrow Terminal 5 project shows how versatile and customizable a Balanced Scorecard can actually be, even in a large infrastructure project (Basu, 2009).
From the very beginning, the balanced scorecard approach has allowed smaller firms to capture intangible metrics and make the most out of time and money (Basu, 2009). The purpose of the Balanced Scorecard for The Heathrow Terminal 5 Project was to separate the many different aspects of the project into manageable sections. The scorecard was then expanded to cover the vast applications it needed to address. This was enhanced by the use of Key Performance Indicators (KPI) that gave a clear indication of how to approach primary considerations (Basu, 2009). These indications include obtaining a ...
This 1313 word solution is tied together with 2 quality references. It provides a strong comparison and contrast of the Balanced Scorecard. An analysis is provided to bring depth to the subject.