revolutionary roi: capturing library value
TRANSCRIPT
Copyright © 2017 Raytheon Company. All rights reserved.
Revolutionary ROI: Capturing Library Value
SLA Conference 2019
Maureen Kimball, Principal Research Librarian
Sandy Nawrocki, Senior Research Librarian
The Value Challenge
� Your library organization’s goals and strategies– Does your library have a strategic plan?
– If so, are your strategic initiatives working to carry out
your organization’s goals?
� Your library organization’s value to management– Do you report value to management?
– Do you quantify the value?
– Do you have the tools to collect the right metrics?
The Need to Capture Library Value2
BSC
SLA
ROIEVMS
The Journey, the Destination, and Adoption� ,
BalancedScorecard
Balanced Scorecard Accolades
BalancedScorecard
BSCs are used extensively in business and industry, government, and nonprofit organizations worldwide. Balanced Scorecard Institute, 2019
Gartner Group suggests over 50% of large US firms have adopted the BSC. More than half of major companies in the US, Europe, and Asia are using the BSC, with use growing in those areas as well as in the Middle East and AfricaBalanced Scorecard Institute, 2019
BSC has also been selected by the editors of Harvard Business Review as one of the most influential business ideas of the past 75 years. Balanced Scorecard Institute, 2019
A recent global study by Bain & Co listed balanced scorecard fifth on its top ten most widely used management tools around the world, a list that includes closely-related strategic planning at number one.Balanced Scorecard Institute, 2019
Creating the Balanced Scorecard
MISSION STATEMENTThe IDS Research Library is committed to providing the highest level of technical and
business information to engineering, scientific, and business staff. It supports Raytheon’s
focus on key strategic initiatives by offering cost-effective and innovative resources and
services.
VISIONBe the leading choice for client’s information access and lifelong learning by continually
offering focused, simple, excellent services and effectively adapting to technological,
business, and cultural changes.
PERSPECTIVES: Points of View• Financial Perspective asks “How do we look to shareholders or board members?”
• Customer Perspective asks “How do our customers or users see us?”
• Internal Processes Perspective asks “In what areas must we excel?”
• Organizational Readiness Perspective asks “Can we continue to improve and add value?”
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Creating the Balanced Scorecard
STRATEGIC GOALS, MEASURES, TARGETS
Goal 1: Provide excellent service to customers
Metric User.1.a: Capture complaints vs kudos.
Target 1: Complaint/kudo ratio less than 5%.
Target 2: Complaint/kudo ratio less than 10%.
Method: To be collected via Monthly Metrics Report.
Goal 2: Educate customers in the skills necessary to fulfill their information needs
Metric User.2.a: Overall rating in IDS Library event education participant surveys.
Target 1: Positive evaluation by 100% of participants responding.
Target 2: Positive evaluation by 80% of participants responding.
Method: Compile positive/negative responses from all educational events.
Goal 3: Develop high quality collections that reflect the users’ needs
Metric User.3.a: Circulation of new title monographs.
Target 1: 60% of all new titles circulate within 1 year after cataloging.
Target 2: 50% of all new titles circulate within 1 year after cataloging.
Method: Horizon WebReporter annual report of new IDS titles (1 year).
Metric User.3.b: Circulation of focused collection areas (by Call Number)
Target 1: Increase circulation of focused collection areas by 10% over 2013.
Target 2: Increase circulation of focused collection areas by 5% over 2013.
Method: Horizon WebReporter annual report of focused collection areas circulation.
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Strategic Themes Support Mission and Value
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Balanced Scorecard Institute, 2011
Strategy Map and Themes: Dynamic Document
8Shows activities required to achieve goals and interrelationships
Implementing the Balanced Scorecard
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Main take-away message (copy and paste)
� Data Gathering by Perspective– IDS Library Monthly Metrics Report
– IDS Library internal ILL and OCLC ILL Monthly Metrics
– IDS Library Annual Work/Life Staff Survey
– IDS Library Discovery Layer Metrics
– IDS Library Portal Usability Studies/Focus Group Reports
– IDS Library Research Metrics/Customer Feedback Report
� Data Analysis Balanced Scorecard Summary� Target 1, Target 2, and Lack of achievement indicator for each goal
� Total Achievement Rate for each perspective
� Total Achievement Rate Summary with accompanying charts
Library Value Captured
Data Analysis
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Main take-away message (copy and paste)Balanced Scorecard Summary-User Perspective
Data Analysis
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Main take-away message (copy and paste)Balanced Scorecard-Internal Processes Perspective
PERSPECTIVE METRICS Target 1
Met
Count
Target 2
Met
Count
Targets Not
Met
Count
Metrics Suspended
or
Data Not Provided
Percentage
Target 1
Met 1
Percentage
Target 1 or 2
Met 2
INTERNAL PROCESSES PERSPECTIVE
Metric Process.1.a: Internal communications rating from staff work/life survey
that relate to communication with management.
Target 1: Positive scores on 80% of internal management communications responses.
Target 2: Positive scores on 60% of internal management communications responses.
1 0
Metric Process.1.b: Internal communications rating from staff work/life survey
that relate to communication among staff.
Target 1: Positive scores on 80% of internal staff communications responses.
Target 2: Positive scores on 60% of internal staff communications responses.
1 0
Metric Process.2.a: Process improvement.
Target 1: Implement at least one major process improvement each year.
Target 2: Implement at least one major process improvement every 2 years.
1 0
Metric Process.2.b: Staff survey rating of internal processes.
Target 1: Positive scores on 80% of internal process responses.
Target 2: Positive scores on 60% of internal process responses.
0 1
Metric Process.3.a: Reliability of EOS server.
Target 1: Horizon will be up at least 99.9% of time.
Target 2: Horizon will be up at least 99.0% of time.
1 0
Metric Process.3.b: Conduct regular usability testing of library website.
Target 1: Positive scores on 80% of overall rating.
Target 2: Positive scores on 60% of overall rating.
1 0
Metric Process.3.c: Conduct regular Discover! marketing and training activities.
Target 1: Minimum of five formal/informal activities per month for each location.
Target 2: Minimum of three formal/informal activity per month for each location.
1 0
Metric Process.3.d: Develop and execute IDS Library events.
Target 1: Participation by all locations in 100% of IDS Library events.
Target 2: Participation by all locations in 80% of IDS Library events.
0 0 1
Metric Process.3.e: Participate in Raytheon-sponsored events such as National Engineers Week, Mission
Assurance Day, etc.
Target 1: Participation by all locations in 100% of Raytheon-sponsored events.
Target 2: Participation by all locations in 80% of Raytheon-sponsored events.
1 0
INTERNAL PROCESSES PERSPECTIVE SUBTOTAL 7 1 1 0 67% 78%
Data Analysis
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Main take-away message (copy and paste)Balanced Scorecard Summary-Organizational Readiness Perspective
PERSPECTIVE METRICS Target 1
Met
Count
Target 2
Met
Count
Targets Not
Met
Count
Metrics Suspended
or
Data Not Provided
Percentage
Target 1
Met 1
Percentage
Target 1 or 2
Met 2
ORGANIZATIONAL READINESS PERSPECTIVE
Metric Readiness.1.a: Impact of staff development.
Target 1: Positive scores on 80% of responses to staff development statements in the staff work/life survey.
Target 2: Positive scores on 60% of responses to staff development statements in the staff work/life survey.
0 1
Metric Readiness.1.b: Completion of learning plan objectives for each year.
Target 1: Completion of 100% of learning plan for each staff member.
Target 2: Completion of 80% of learning plan for each staff member.
1 0
Metric Readiness.1.c: Attend professional conference for staff development
Target 1: Attendance of 100% of staff.
Target 2: Attendance of 80% of staff.
0 0 1
Metric Readiness.2.a: Job satisfaction among library staff.
Target 1: Positive scores on 80% of responses to job satisfaction statements.
Target 2: Positive scores on 60% of responses to job satisfaction statements.
1 0
Metric Readiness.2.b: Team effectiveness among library staff.
Target 1: Positive scores on 80% of responses to team effectiveness statements.
Target 2: Positive scores on 60% of responses to team effectiveness statements.
1 0
Metric Readiness.3.a: Review IDS Library Strategic Plan 2014 goals/accomplishments.
Target 1: Accomplish 100% IDS Library Strategic Plan 2014 goals.
Target 2: Accomplish 80% IDS Library Strategic Plan 2014 goals.
1 0
Metric Readiness.3.b: Develop information relationship with IDS Capture Management Excellence Team.
Target 1: Meet with 100% of Capture Management Excellence leaders.
Target 2: Meet with 80% of Capture Management Excellence leaders.
1 0
Metric Readiness.3.c: Provide competitive intelligence service to IDS Capture Managers/BD Leads.
Target 1: Provide CI services for 8 Capture Managers/BD Leads/Chief Investigators/Price to Win.
Target 2: Provide CI services for 6 Capture Managers/BD Leads/Chief Investigators/Price to Win.
1 0
ORGANIZATIONAL READINESS PERSPECTIVE SUBTOTAL 6 1 1 0 63% 75%
Data Analysis
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Main take-away message (copy and paste)Balanced Scorecard Summary-Financial Perspective
PERSPECTIVE METRICS Target 1
Met
Count
Target 2
Met
Count
Targets Not
Met
Count
Metrics Suspended
or
Data Not Provided
Percentage
Target 1
Met 1
Percentage
Target 1 or 2
Met 2
FINANCIAL PERSPECTIVE
Metric Financial.1.a: Money saved
Target 1: Saving 150% of librarians salary cost
Target 2: Saving 125% of librarians salary cost
1 0
Metric Financial.2.a: Comply with annual budget items
Target 1: Contain expenditures to 100% of budgeted amount
Target 2: Contain expenditures to 90%-99% of budgeted amount
1 0
Metric Financial.3.a: Unit cost of electronic databases
Target 1: No increase in cost per use each year
Target 2: Less than 5% increase in cost per use each year
0 1
Metric Financial.4.a: Benefit to Cost Ratio
Target 1: Benefit to cost ratio is 150%.
Target 2: Benefit to cost ratio is 100%.
1 0
FINANCIAL PERSPECTIVE SUBTOTAL 3 1 0 0 75% 100%
Data Analysis
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Main take-away message (copy and paste)Balanced Scorecard Summary-All Perspectives
Implementing the Balanced Scorecard
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Main take-away message (copy and paste)Balanced Scorecard-Historical Analysis Data
Implementing the Balanced Scorecard
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Main take-away message (copy and paste)Balanced Scorecard-Historical Analysis Data
Project Outcome
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Project Outcome
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