Posted by Emilija
Every major change management programme puts shareholder value at risk. If the project succeeds and meets its objectives, then shareholders benefit. If it fails or even partially fails, then the value of the company may fall and keep falling. And CEOs don’t usually survive such an outcome.
Partnership: people, methodology and toolset
Like it or not, big change normally demands external help. You need systems integrators, a change methodology and supporting project management software. Tempting as it may be to follow the best of breed approach to selecting these partners, it tends to work directly against openness, transparency and effective risk management.
There are very significant advantages to engaging a niche change management team that has proven experience of your sector or industry. A specialist team should also be able to provide the methodology and the toolset to deliver the change map and desired outcomes. Opting for a specialist team that can provide an integrated approach will enable better data transparency, objectivity and appropriate risk management at each level – from top-level shareholder at risk and down.
Big system project management tools typically prove counterproductive in practise. They are costly to run, are often under-used and tend to distract from the real issues of risk management, risk mitigation, transparency and openness. Indeed, they often end up being used for little more than timesheet management.
What’s needed instead is an elegant, easily understood toolset that guarantees objectivity, engenders honesty from top to bottom and gives senior people risk data in an accessible and concise format (i.e. management dashboard).
The CEO needs to know when shareholder value may be at risk. They need to know what actions are being taken to mitigate this risk and whether a programme is actually on track or not. The best toolsets are those built by the specialists themselves, as they are based on many years of practical experience in delivering major change programmes and will reflect the need for risk management and mitigation at every level.
Like change itself, the process of managing change requires continuous progression and innovation. Whether the programme is part of a corporate relocation, merger/demerger, re-engineering of the operating model or a technology migration, change is an essential and inescapable part of business.
For this reason, CEOs and all senior management need to be able to see how shareholder value is being protected. That requirement demands a team of people, a methodology and a toolset that are all founded on data transparency, accuracy, openness and objectivity. Proper risk management is impossible without them.
Bestoutcome specialises in complex change management for large organisations operating in sectors such as retail, finance, manufacturing and the public sector. Its approach is based on delivering specific business outcomes within a uniquely transparent, risk managed and open framework. This is achieved by using highly experienced consultants combined with PM3 – an elegant, flexible, toolset – and ODPM, an outcome-driven methodology. Bestoutcome’s starting point is always the same: the client’s ultimate business goal. And it never loses sight of this. www.bestoutcome.com