The Balanced Scorecard and Collection Management Jim Self University of Virginia Library June 17, 2002.

The Balanced Scorecardand

Collection Management

Jim SelfUniversity of Virginia Library

www.lib.virginia.edu/bscJune 17, 2002

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

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

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

Elements of the scorecard Perspectives Core Values Strategic Objectives Metrics Targets

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

perspective

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.

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.

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.

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.

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.

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

Reporting Overall Results

FY02 Results

Target1Target2Not Met

Reporting More Detail

21%

32%

47%

33%

46%

21%

11%

31%58%

21%

32%

47%

User Perspective Internal Perspective

Finance PerspectiveLearning/Future Perspective

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

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

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.

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.

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.

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.

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.

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.

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.

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