In our balanced scorecard framework, Strategic Initiatives are the action projects that are needed to help the organization be successful with its strategy. Strategic Initiative are tied to Strategic Objectives, are of significant importance to the whole organization, and are far reaching. Strategic Initiatives make strategy actionable.

The number of Strategic Initiatives varies for each organization. Typically, at the enterprise-wide level (called Tier 1), the number of priority Strategic Initiatives numbers between 8 and 15 projects.

Once selected (based on some prioritization scheme), Strategic Initiatives need to be turned into risk-managed projects, and tracked to ensure that the projects are meeting requirements. We recommend tracking schedule adherence, cost (resources) against budget, scope, and risk.