Scorecard - a combination of criteria and weights that enable measurement of key metrics such as risk, value, innovation and competitive advantage.Synonyms: Scorecards
See Also: Criteria
Scorecards are a powerful way to measure key parameters in business. By combining several criteria together, with appropriate weights, it becomes possible to derive meaningful measures for important but hard to quantify business measures. The balanced scorecard system became a popular approach for business to measure its performance. In portfolio management, scorecard systems provide a way to compare and prioritize projects across a range of different metrics. Scorecards are typically used to bring together criteria to measure parameters such as risk, value, innovation, competitive advantage, strategic fit, market attractiveness.
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