Our association headquarters at 1 East Greenway Plaza in Houston, Texas, has served us well over the years as the nexus for our international operations. 
The IFMA Foundation's purpose is to provide greater resources and educational opportunities to facility management professionals and those who support the FM industry. 
Bricsnet offers the industry's most powerful and easy-to-use technology solutions for facility management and real estate operations. 
Paul D. Ring
Balanced Scorecard
IFMA's Approach to Strategic Management
In the early 1990s, Robert Kaplan and David Norton developed a new approach to strategic management. Based on the premise that intangible, or knowledge-based, assets—employees, volunteers, information technology, image—are increasingly important to an organization's success, the balanced scorecard not only measures financial outcomes, but also balances the financial perspective with employee, business process and customer perspectives.
The balanced scorecard provides a method for aligning business activities to organizational strategy. An organization's vision and mission statement are translated into specific and calculable goals, and a set of performance measures is established to monitor the organization's success in achieving those goals.
- The vision is translated into operational goals
- The vision is linked to departmental (and even to individual) performance
- A plan for business processes is outlined
- The strategy is modified based on feedback
- The stakeholder perspective – measures directly impacting customers and customer satisfaction
- The internal perspective – measures reflecting performance of key business processes
- The learning and growth perspective – measures reflecting an organization's learning curve
- The financial perspective – measures reflecting financial performance
- Short- and long-term objectives
- Outcomes desired and the performance-drivers of those outcomes
- Objective and subjective measures
IFMA must focus all of its resources and efforts on achieving the mission for the benefit of all stakeholders. The balanced scorecard is a tool that allows IFMA to manage its intangible resources and assets in today's knowledge-based society.
See Also: Download a printable version of
IFMA's balanced scorecard ».
