If you have not previously asked whether your organisation is transformation-ready, the last few months have likely prompted you to consider this. As the COVID-19 crisis continues to unfold across the world, many businesses are now working not only to survive, but think about how they are going to adapt to the new normal that will emerge. In some instances, these adaptations will require more larger business transformation in terms of product offerings, target markets and overall future direction. In this blog post, we will discuss several elements that can help an organisation become transformation-ready, covering several topics listed below:
Conducting A Capability Assessment
Improving Project Execution Capability
Creating A Transformation Management Office
Adopting these measures can help your organisation to become transformation-ready, thus allowing your business to adapt to the changing reality.
When was the last time your organisation analysed its inherent capabilities? To become transformation-ready, your business needs to have a clear understanding of whether it has the right capabilities to compete and win in your target markets.1Conducting a capability assessment can help you ascertain vital information such as:
What capabilities are most important to your company’s success?
What capabilities does your organisation need to invest in?
Are your employees aligned with the organisational capabilities that matter most?
One framework for performing this capability assessment is the Capability Maturing Model Integration (CMMI). CMMI is designed to help organisations streamline process improvements.2 The idea is that businesses improve their capability so that they increase their organisational maturity levels across CMMI’s five stages:
Level 1 – Initial
Level 2 – Managed
Level 3 – Defined
Level 4 – Quantitatively Managed
Level 5 – Optimised
Project Execution Capability
Having a transformation-ready organisation will require outstanding project execution capability. Your Capability Assessment can help in this regard, but there are several other steps organisations can take to improve this capability.3
1. Clearly defined roles and responsibilities Every person involved in the transformation should know the actions and decisions that they are responsible for. Roles and responsibilities for the transformation should be clearly defined, thus ensuring that approval processes are clear enough to prevent components of the transformation from being slowed.
2. Free flow of information Having business units operating as silos will undermine the transformation effort, hence the reason why having a single source of truth for all elements of the transformation is critical to an organisation’s success.
3. Accountability Structures It is vital to have the necessary accountability structures in place to ensure that the project remains on-track and on-budget.
With these three elements in place, an organisation can develop strong strategy execution capability.
The Role of the Transformation Management Office
Finally, for an organisation to be transformation-ready, it needs to manage multiple program and project management initiatives to ensure they align to a common goal. In this sense, organisations have found value in the creation of a Transformation Management Office (TMO). What differs a TMO from a traditional Project Management Office is that the TMO has an enterprise-wide scope whose function is to cascade strategic plans from corporate-level strategy to business unit strategy and then to portfolio, program and project strategies, thus creating one clear roadmap. Essentially, the TMO serves as the bridge between strategy and execution.
The need for a TMO has become more important as organisations embark on transformations that are more digital focussed. Indeed, reports suggest that 70 percent of all digital transformation initiatives do not reach their desired goals, with $1.3 trillion spent on digital transformations in 2018 resulting in $900 billion that went to waste.4 Broadly speaking, an effective TMO should help your organisation cover the areas of value, design, execution and business adoption.
Using Amplify to Become Transformation-Ready
At Amplify, our software has helped some of the world’s leading organisations become transformation-ready and helped them deliver value through planned and measurable execution of strategic change. The Amplify platform empowers Transformation Management Offices by providing them with a single source of truth for their large-scale change programs. Our software is designed to support multi-directional communication within an organisation, thus ensuring that every team member involved in your transformation program understands their role and responsibilities. One of the great benefits of Amplify its built-in business intelligence platform allows for the generation of reports and dashboards that can be easily exported to PowerPoint or PDF. This allows you to easily monitor whether your transformation program is on-track to deliver the value that you originally planned to achieve.
To find out more about how Amplify can make your organisation transformation-ready, click on the button below to try Amplify today!