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Even though the balanced scorecard (BSC) has become a highly popular performance management tool, its usage in private universities is still rare. This research outlines some factors to be taken into account for successful BSC implementation at Beirut Arab University (BAU) in Lebanon. Existing studies on critical success factors (CSFs) have been reviewed as well survey and case study methodologies were adopted. From the literature review, the research proposes a set of 12 factors, which is believed to be more relevant for Lebanese private universities. The survey indicates that among these 12 factors, 11 are perceived as CSFs for BSC implementation. However, the case study reveal that among the 11 CSFs; 10 factors are exit at BAU, but these factors need some modifications to be more effective to ensure the successful implementation of the BSC at BAU. Thus, the results recommend BAU to exert considerable care to develop the remaining factor and to make the necessary enhancements to the existed factors to ensure the full list of CSFs is existed throughout the entire institution. In this case, BAU will be ready for the successful implementation of the BSC system across its colleges.