Freddie, the CEO of MagTel Inc., found that employees are wasting time on unproductive tasks. To solve this issue, he measured one of his employees' performances and provided regular feedback. This helped the employee to improve his productivity. In doing so, Freddie found that "what gets measured happens." Therefore, in the context of project management and control, he must use _____ as a managerial review tool to improve financial performance and customer satisfaction of his company.
A) debt equity ratio
B) balanced scorecards
C) breakeven analysis
D) just-in-time technique
E) critical path analysis

Question

Quizplus · Accepted Answer

Balanced scorecards are a comprehensive performance management tool that includes financial, customer, internal process and learning/growth perspectives. It is commonly used as a managerial review tool to improve financial performance and customer satisfaction. MagTel Inc. can use this tool to identify and measure key performance indicators, set targets and provide regular feedback to employees to improve productivity and ultimately achieve organizational objectives. The other options are not directly related to performance management and control.