A hybrid approach based on BSC-PEM for organization performance assessment

Due to the rapid and dramatic changes in the industry, the projects are very importance due to high volume of resources, progress and widespread activities of competitors. Organizations must bring strong infrastructure to obtain sustainable competitive advantage. To this end, organizations must evaluate their position in the industry. But inefficiencies related to traditional evaluation systems have led to create new models, that these models can be divided into two general categories: Self-assessment-based model, such as PEM, Measuring and improvement of business processes-based model such as BSC. In the PEM model framework provides multidimensional analysis model on that varied national and international quality awards measure primarily based. Balanced Scorecard, that used as strategic evaluation tool is a methodology of determining business performance using lagging and leading indicators on the basis of strategies and vision. The method suggests that business performance ought to be evaluated not only by using financial indicators but also additionally at the same time considering non-financial indicators. it's been revealed in the review of relevant literature that despite the satisfying levels achieved in abstract and theoretical dimension of BSC, the method has some deficiencies in terms of implementation on a quantitative basis which there stay some problems to be resolved. Subject of this study covered the analysis and evaluation dimension of BSC. within the scope of the study, BSC approach was integrated with PEM model so as to determine the performance level of a business on the basis of its strategies and vision. Proposed model has shown that performance indicators with totally different structures included in BSC approach can be consolidated with the assistance of PEM model.

Keywords:

Project Excellence model (PEM) , Balanced Scorecard (BSC) , organization performance assessment