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The Balanced Scorecard and Collection Management

The Balanced Scorecard and Collection Management. Jim Self University of Virginia Library www.lib.virginia.edu/bsc June 17, 2002. The Balanced Scorecard . Reflects the organization’s shared vision Clarifies and communicates this vision to mobilize and focus the organization

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The Balanced Scorecard and Collection Management

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  1. The Balanced ScorecardandCollection Management Jim Self University of Virginia Library www.lib.virginia.edu/bsc June 17, 2002

  2. The Balanced Scorecard • Reflects the organization’s shared vision • Clarifies and communicates this vision to mobilize and focus the organization • Provides a quick, but comprehensive, picture of the organization’s health and success

  3. Coping with the flood of data • Libraries collect and generate many, many statistics • Impossible to remember, much less to understand, all these numbers • Difficult to utilize these numbers in decision making

  4. Order from chaos • The Balanced Scorecard is a layered and categorized instrument that • Identifies the important statistics • Ensures a proper balance • Organizes multiple statistics into an intelligible framework

  5. Elements of the scorecard • Perspectives • Core Values • Strategic Objectives • Metrics • Targets

  6. The scorecard measures are “balanced” into four areas • The user perspective • The finance perspective • The internal process perspective • The future (learning and growth) perspective

  7. Core Values • We respond to the needs of our customers. • We continuously improve our processes. • We use our resources wisely. • We enable and develop our people and our systems.

  8. User PerspectiveStrategic Objectives • The Library will • Provide excellent service to our users. • Educate users to fulfill their information needs. • Build, maintain, and preserve high quality collections. • Provide convenient and timely access to collections.

  9. Internal Process PerspectiveStrategic Objectives • The Library will • Deliver high quality information resources in a timely manner. • Use resources in the most innovative, efficient, and effective way possible. • Develop a culture of assessment. • Continuously review and improve high impact processes.

  10. Finance PerspectiveStrategic Objectives • The Library will • Increase its financial base through private donations, other external support, and increased institutional support. • Provide resources and services with a high ratio of value to cost.

  11. Learning/Future PerspectiveStrategic Objectives • The Library will • Foster learning among its employees. • Recruit, develop, and retain productive, highly qualified staff. • Provide facilities that promote productivity, encourage library use, and ensure top quality services. • Maintain a cutting-edge information technology infrastructure.

  12. Metrics • Specific targets indicating full success, partial success, and failure • At the end of the year we will know if we have met our target for each metric • The metric may be a complex measure encompassing several elements

  13. Reporting Overall Results

  14. Reporting More Detail User Perspective Internal Perspective Finance Perspective Learning/Future Perspective

  15. The Scorecard at UVA • 26 metrics in four categories • User Perspective • Internal Process Perspective • Finance Perspective • Learning and Future Perspective • Includes old and new measures

  16. What do we measure? • Customer survey ratings • Timeliness of service • Cost of service • Volume or use • Funding success • Comparisons with peers • Internal improvements

  17. Metric VI: Circulation of new monographs • Target1: 60% of newly cataloged cataloged monographs should circulate within two years. • Target2: 50% of new monographs should circulate within two years.

  18. Metric VII: Turnaround time for user requests • Target1: 90% of user requests for new books should be filled within 7 days. • Target2: 80% should be filled within 7 days.

  19. Metric VIII: Processing Time for Routine Acquisitions • Target1: 90% of in-print books from North America should be processed within one month. • Target2: 80% of in-print books from North America should be processed within one month.

  20. Metric XV: Expenditures for Circulating Monographs • Target1: Monographs that circulate within the first two years should account for at least 70% of the monographic budget. • Target2: Circulating monographs should account for at least 60% of the budget.

  21. Metric XVI: Unit Cost of Serial Use • Target1: There should be no increase in unit cost each year. • Target2: Less than 5% annual increase in unit cost.

  22. Metric XVII: Unit Cost of Online Databases • Target1: There should be no increase in unit cost each year. • Target2: Less than 5% annual increase in unit cost.

  23. Metric XXIV: Expenditures for Digital Materials • Target1: U.Va. should be in the top 25% of ARL libraries in percentage of collections dollars expended on digital materials. • Target2: U.Va. should be in the top third of ARL libraries.

  24. Scorecard Outcomes -- Collection Management • Acquisition of more materials that are likely to be used • Faster response to user requests • Control of unit costs • Acquisition of more digital materials

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