What are the challenges when implementing a balanced scorecard?

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Corporate culture changes, and with change can come fear, especially if it is tied to performance standards. Much of that can be abated if you are honest with stakeholders and employees. It can also be a time-consuming process, taking up to a year to fully implement, although the original estimate from Kaplan and Norton indicated a time of 26 months to implement everything down to the level of individual employees. It also requires full top-level support over a long period of time, during which other priorities and emergencies almost certainly will take centre stage, at least temporarily. And it's certainly not cheap. Depending on the scope of the project, it can cost from thousands to hundreds of thousands of dollars. Costs include team members and time spent, facilitator cost, software licensing costs, installation and testing costs, and annual maintenance and upgrade costs.

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