1. The Balanced Scorecard and Collection Management Jim Self University of Virginia Library www.lib.virginia.edu/bsc June 17, 2002

2. 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

3. 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

4. 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

5. Elements of the scorecard Perspectives Core Values Strategic Objectives Metrics Targets

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

7. 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.

8. User Perspective Strategic 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.

9. Internal Process Perspective Strategic 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.

10. Finance Perspective Strategic 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.

11. Learning/Future Perspective Strategic 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.

12. 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

13. Reporting Overall Results

14. Reporting More Detail User Perspective Internal Perspective Finance Perspective Learning/Future Perspective

15. 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

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

17. 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.

18. 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.

19. 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.

20. 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.

21. 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.

22. 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.

23. 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.

24. 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