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VCU Libraries Strategic Plan 2005-2007

The VCU Libraries' Strategic Plan for 2005-2007 is based on the Balanced Scorecard methodology. Balanced Scorecard is a powerful way to align an institution's strategic vision with both strategic planning and performance measurement. The Balanced Scorecard approach has enabled the VCU Libraries to carry out a streamlined, results-oriented strategic planning process that addresses institutional goals and assessment requirements in the near- to medium-term future. This document provides an overview of our use of Balanced Scorecard, our goals, and our process.

What is the Balanced Scorecard approach and why did we choose it?

Balanced Scorecard is a management technique designed to provide a view of an organization from four perspectives: user, internal processes, innovation/learning potential, and financial. Beginning with the identification of our users' top concerns, combined the VCU Libraries' Mission/Vision/Values statement, we have defined six "scorecards" or strategic objectives, each with specific objectives along with measures and specific targets for those objectives. These "scorecards" and specific objectives address user concerns in the context of our institutional vision and goals. Our primary goal in developing the scorecards is to provide the VCU community with an unprecedented level of detail and accountability for the VCU Libraries' strategic objectives in FY2006 and FY2007.

The Balanced Scorecard translates our mission, vision, and values into action:

It is a representation of our shared vision
It clarifies and communicates this vision to mobilize and focus the VCU Libraries and its resources
It focuses on addressing the top concerns of our users
It provides a quick but comprehensive picture of the VCU Libraries' health and success
It includes approximately 40 measurements of performance (metrics), grouped under 6 broad strategic objectives.
It enables the evaluation of current performance and potential for the future

Six Strategic Scorecards have been developed:

User Centered Services Objective
Provide library users with exemplary and consistent service in all aspects of library operations.
Research Objective
Invigorate research and scholarship across all disciplines.
Education and Advocacy Objective
Promote success through education and advocacy.
Physical Environment Objective
Create safe, clean, inviting spaces that fosters learning, research, knowledge sharing, and other academic pursuits.
Development and Financial Objective
Strengthen financial resources of VCU Libraries.
Staffing/Staff Objective
Recruit, retain, and develop faculty and staff of the highest caliber.

Each Scorecard's measures are "balanced" into four areas

1. User Perspective
How can we fulfill library user expectations?

Satisfaction rating of our users in surveys
Focus group findings
E-metrics
Turnaround time for patron requests

2. Internal Processes Perspective
How should we organize internal processes to meet library user needs and expectations?

Performance metrics
Turnaround times for internal service requests

3. Innovation/Learning Perspective
How can we support staff innovation and growth to secure our future?

Staff training outcomes
Self-assessments

4. Financial Perspective
How can we secure and use financial resources in an effective way?

Budget analysis and reallocation
New revenue streams
Revenue from state and private sources

Timeline

This plan was drafted in 2005 by the Strategic Planning Work Group. Monitoring teams, one for each of the six (6) broad strategic objectives, will make their first progress reports in April 2005. Balanced scorecard results will be shared with all Libraries staff and with the VCU community. Results will be included in the Libraries' annual report and in WEAVE@VCU.