CEB to introduce Balanced Score Card

"For the first time in the state sector, the Balanced Score Card System, which was widely used by the private sector to access the success of their organisations will be adopted by the CEB," said Minister of Power and Energy Patali Champika Ranawaka addressing senior management of the CEB. Following are excerpts of his speech.

"As government owned entities we used to measure and evaluate only financial indicators and this was the primary criteria in gauging the successfulness of our organisations. In addition to the financial perspective there are three additional perspectives, namely Customers, Employee Learning and Growth and Internal Business Process. As a whole we need to strike a right balance between these four vital elements. This balancing act will be done by the process called the Balanced Score Card System (BSCS)," he said.

BSCS is a strategic planning and management tool which can be used in an organisation to align and focus activities to the vision and strategy of the organisation, to improve internal and external communications, and to monitor organisation performance against strategic goals. This will help to add non-financial measures to financial measures which will reflect a more balanced perspective.

It is not a tool to measure any individual performances but to measure the overall strategy of the organisation with necessary corrective indicators. Measuring individual performances for personal appraisal will be an entirely different methodology and perhaps if we succeed in achieving the desired results we might have to extend this process for individual performance appraisals.

The minister said that the CEB can take the lead and show the rest of the institutions the way forward.