Research
The Strategic Assessment Model
Financial Perspective
The Financial Perspective reflects the organization's financial performance in ensuring financial integrity and demonstrates stewardship responsibility for capital and financial resources associated with the operation and preservation of physical assets throughout the campus. Financial performance indicators are tracked to ensure that services are delivered in an efficient cost-effective manner. The Financial Perspective is linked to the other perspectives through the relationships between cost and the results in achieving the other scorecard objectives. An example would be to understand how improving internal processes or customer satisfaction correlates with increasing or decreasing costs. Another might be to determine how financial benefits are derived from improvements in employee safety, absenteeism, and turnover. Primary services include those for operations and maintenance, energy and utilities, and planning, design, and construction. (Combines Baldrige categories 4.1, 4.2, and 7.2.)
| Level | Qualifying Criteria |
|
5 |
A sound, systematic financial data collection, evaluation, and refinement program has been fully established that accomplishes overall financial perspective objectives.
Program collects financial performance indicators for all primary services. Specific services within broader primary services are being evaluated for individual service centers (lock shop, sign shop, zones, plumbing, etc.) and making improvements. A strong fact-based improvement process is fully in place for reducing costs or improving services for all primary services. Emphasis is placed on refinement of previous improvements to make them even better. Cycles of improvement demonstrate a mature program of continuous improvements and refinements in primary services and have been sustained over several years. Current financial performance is excellent for most primary services. No adverse Most trends and/or service levels are evaluated against relevant comparisons or benchmarks from other similar institutions. Some are benchmarked with outside industries. Results show areas of leadership with excellent relative service levels. |
| 4 | A sound, systematic financial data collection, evaluation, and refinement program has been established that documents results in satisfying financial perspective objectives.
A fact-based improvement process is in place for reducing costs or improving services for all primary services. Cycles of improvement demonstrate a mature program of incremental improvements and refinements in making previous improvements even better. Performance trends show cycles of cost or service improvement in many to most primary services. Most improvement trends and/or performance levels are sustained over cycles of data collection. Current financial performance is good to excellent for most service activities. No adverse trends are noted. Most trends and/or service levels are evaluated against relevant comparisons or benchmarks from similar institutions. Results show areas of leadership with very good relative service levels. |
| 3 | A sound, systematic financial data collection and evaluation program has been established to examine financial perspective objectives. Program collects and trends financial performance indicators for almost all service activities.
A fact-based improvement process is in place for reducing costs of most primary services. Emphasis is placed more on improvement than on reacting to problems. Improvements and cost savings can be measured and substantiated. Performance trends show cost or service improvement in many to most primary services. No adverse trends are noted. Some trends and/or service levels are evaluated against relevant comparisons or benchmarks from similar institutions. Results show areas of strength with good to very good relative service levels. |
| 2 | Beginnings of a systematic financial data collection program. May be tracking some financial indicators. Major gaps exist. Some primary financial indicators are not included.
Early stages of a transition from reacting to problems to a general improvement orientation with noted results. Financial trends show some improvements and/or good performance is noted for some primary services. |
| 1 | No systematic financial data collection program evident. Only anecdotal information is available on how well financial integrity and physical asset stewardship are satisfied. |
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