This article provides discussion and analysis of the successful deployment by a university-based project management office (PMO) of the balanced scorecard as a performance measurement tool. The research study builds on a supporting literature review on the balanced scorecard along with background material on collaborative research projects. This is followed by a case study investigation of the design and implementation of the scorecard for a university PMO over a 4-year period. Various managerial insights have been generated that have value to project management professionals engaged in the roll-out of a performance measurement system to support the management of research projects. There is a need to carefully adapt scorecard metrics to the academic requirements in regard to the management of a portfolio of research projects. Furthermore, although data collection is necessary for the sustained use of the scorecard to support team operations, it is also important to consider the people or social dimensions when utilizing the scorecard approach. The article also includes specific details on how scorecard’s key performance indicators have been derived through distilling strategic objectives into operational requirements.