Imagine you are overseeing the development of a company, Pharmafin, and their new product line. You will need to explain performance measurement methodologies in general and in relation to the specific product. Prepare a memo in which you will relate the concepts you learned about performance measurement to the new product line's performance.

Discuss balanced scorecard and EVA as contemporary methodologies for measuring performance, as well as traditional variance analysis and financial statement analysis methods for accomplishing this activity.

Compare and contrast the two contemporary methodologies for measuring performance with the two traditional methods.

Discuss the information needed from Pharmafin's new product line to support each of the four performance measurement methodologies.

Recommend one of the four methodologies that should be used to measure the performance of the new product line. Be sure to support your recommendation.