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Quantitative performance targets by using balanced scorecard system: application to waste management and public
Paula Mendes1, Luis Miguel Nunes2, Margarida Ribau Teixeira3
1CENSE - Center for Environmental and Sustainability Research, Lisbon, Portugal Loulé City Hall, Loulé, Portugal.
Summary
This study uses Monte Carlo simulation to identify key performance indicators for balanced scorecard systems. Focusing on these critical targets prevents biased decision-making in performance management.
Area of Science:
- Environmental Management
- Decision Science
- Operations Research
Background:
- Balanced Scorecard (BSC) systems are crucial for organizational performance management.
- Setting appropriate performance target values is a complex challenge for decision-makers.
- Municipal solid waste management systems require effective performance monitoring and strategic objective setting.
Purpose of the Study:
- To guide decision-makers in defining performance target values within Balanced Scorecard (BSC) systems.
- To apply a sensitivity analysis method with Monte Carlo simulation to a municipal solid waste management case.
- To identify the most impactful performance indicators for BSC model outcomes.
Main Methods:
- Sensitivity analysis of performance indicators (PIs) to determine their impact on BSC outcomes.
- Monte Carlo simulation applied to a municipal solid waste management system in Loulé, Portugal.
- Sensitivity analysis of target values for high-impact PIs.
Main Results:
- Four strategic objectives (IPP1, IPP4, IPP5, FP1) account for 99.7% of the variability in the overall BSC value.
- IPP1 (Comply with national waste strategy) and IPP4 (Reduce nonrenewable resources and greenhouse gases) are the most influential, explaining over 55% and 22% of variance, respectively.
- A single PI target value change can alter the overall BSC value by up to 18%, highlighting the risk of biased decisions.
Conclusions:
- Decision-makers must prioritize specific strategic objectives within BSC systems for effective performance management.
- The proposed sensitivity analysis method helps prevent biased decisions in performance target-setting.
- Accurate target setting for key performance indicators is vital for reliable BSC outcomes in waste management and other sectors.
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