Budgeting and planning are collaborative processes; requiring the coordination of many individuals across many parts of an organization. The ability to specify roles and responsibilities for accomplishing different tasks within the overall process is a key to improving process efficiency.
Ideally, budgeting is an analytical process based on the results of a planning process. The planning processes described here are both distinct and interrelated - one informs the other.
Balanced Scorecard Tool
The balanced scorecard is a management system (not only a measurement system) that enables organizations to clarify their vision and strategy and translate them into action. It provides feedback around both the internal business processes and external outcomes in order to continuously improve strategic performance and results. The outcome from a balanced scorecard planning process is a tool showing how an individual, department, and / or an enterprise is doing on its key performance indicators.
Decision makers examine the outcomes of various measured processes and strategies and track the results to guide the organization and provide feedback. The value of metrics is in their ability to provide a factual basis for defining:
- Strategic feedback to show the present status of the organization from many perspectives for decision makers
- Diagnostic feedback into various processes to guide improvements on a continuous basis
- Trends in performance over time as the metrics are tracked
- Feedback around the measurement methods themselves, and which metrics should be tracked
- Quantitative inputs to forecasting methods and models for decision support systems
Balanced Scorecard Review Meetings
Agencies submit their department-level scorecards to the Governor's Office and GOPB each month. GOPB Budget Analysts review, and then report on these scorecards to the Governor's Senior Staff on a regular basis. Feedback is communicated to agency leadership through the Analysts. These meetings serve as partnership opportunities for both GOPB and state agencies.