A balance scorecard provides a comprehensive assessment of short-term and long-term performance
GN Bureau | December 26, 2016
The civil aviation ministry is contemplating to begin the performance of public sector undertakings (PSUs) under its aegis on a balance scorecard methodology to put an end to the conventional ways of reviewing public enterprises’ performance, reported The Economic Times.
“The ministry is putting efforts to institute a disciplined performance management system using the balance scorecard methodology. Over the last three months we have worked with each of the PSUs to develop a balance scorecard that provides a comprehensive assessment of short-term and long-term performance. There will be a monthly review by the ministry,” minister of state for aviation Jayant Sinha told the newspaper.
Under the balanced scorecard methodology, an organisation’s performance is monitored against strategic goals on the basis of a few listed criteria, the report said.
According to the report, the aviation ministry’s PSUs are slated to be reviewed under 8-10 criteria. From now on, the ministry, which used to measure Air India’s on-time performance, will also review factors leading to it – like aircraft availability, seasonal factors and other reasons leading to OTP.
The report claimed that the new model has been suggested by Sinha. The first review of all three PSUs under the ministry — Air India, Airports Authority of India (AAI) and Pawan Hans Helicopters — will be done by Union Aviation Minister Ashok Gajapati Raju and Sinha in January next year.
Prime minister Narendra Modi celebrated three-year of his government on May 26 by inaugurating Dhola-Sadiya bridge over the Brahmaputra river in Assam’s Tinsukia district. It is the longest bridge in India, which runs 9.15 km from end to end and connects Assam with Arunachal Pradesh.
IndianOil posted a net profit of Rs 19,106 crore for 2016-17 fiscal as compared to a profit of Rs 11,242 crore in the last fiscal. The income from operations for the financial year 2016-17 was Rs 4,45,373 crore as compared to Rs 4,06,828 crore in the previous fiscal. IndianOil`s income from
Hindustan Aeronautics Limited (HAL) carried out first flight of light utility helicopter (LUH)-PT-2 on May 22 at its Bengaluru-based facility. The flight duration was about 22 minutes and pilots reported nil snag, HAL said. “These maiden flights of indig
Narendra Modi is like Greek mythology’s King Midas: whatever he touches turns into gold. Most people in this country are left dazzled by his ability to make dramatic announcements with a statuesque flourish. The past three years of the Modi government have left the
Bharat Heavy Electricals Limited (BHEL) has added another feather to its cap by successfully commissioning another 270 MW thermal unit at RattanIndia Nasik Power Limited’s 5x270 MW thermal power project at Sinnar (Nasik) in Maharashtra. This is the fourth unit to be c
Chaudhary Birender Singh, minister for steel, said that the Indian steel industry is at the cusp of a significant milestone by becoming the second largest stainless steel producer in the world, leaving behind Japan. He said that the steel sector is only an example of all-round development in India. The c