1. The Balanced Scorecard and Collection Management Jim Self University of Virginia Library www.lib.virginia.edu/bsc 27 June 2004

2. Managing the data 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

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

4. Metrics Specific targets indicating full success, partial success, and failure At the end of the year we know if we have met our target for each metric The metric may be a complex measure encompassing several elements

5. The scorecard at Virginia Implemented in 2001 Reports for FY2002 and FY2003 Preparing metrics for FY2005 A work in progress

6. Our Guiding Principles Collections and Services Providing access to great collections that are easy to find, easy to use, and that inspire learning and scholarship. Providing great service that meets our users’ needs and surpasses their expectations.

7. Metric VI: Circulation of new monographs Target1: 60% of newly cataloged monographs should circulate within two years. Target2: 50% of new monographs should circulate within two years.

8. Metric VII: Turnaround time for user requests Target1: 90% of user requests for new books should be filled within 7 days. Target2: 80% of user requests for new books should be filled within 7 days.

9. 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.

10. 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.

11. 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.

12. 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.

13. Impact of the Scorecard Acquisition of materials that are likely to be used Prompt response to user requests Control of unit costs Acquisition of more digital materials