Organizations thrive for robust mechanisms to deliver their business strategies and create more value for their organization. One key difference between successful and unsuccessful executives lies in their ability to execute and delivery ongoing operational results and improvement efforts.
Ongoing operations are typically delivered through Business as Usual services, while improvements are delivered through change initiatives. Many of these initiatives involve cross-functional areas and multidisciplinary teams which require:
- Cultural alignment
- Consistent organizational language and standards
- Project management methodologies and techniques
- Prioritisation of outcomes, resources and budget
Organizational value is created by integrating strategy, annual business planning, operation performance management, benefits realization and value techniques which contribute to increased stakeholder satisfaction. Benefits are quantifiable outcomes that have the potential to contribute to value.
Executives and senior managers are most concerned by delivering vital projects within the current financial year, monitoring how fast they can be completed and tracking the realization of their associated benefits from which business value is derived. They are asking themselves “what exactly am I getting for my investment in change?” It is no longer acceptable to deliver a project or program and expect the benefits to be realised without effective business leadership and emotional engagement across the organization.
Driving innovation and handling complexity are focal areas in the search for value creation. The realization of business strategies is increasingly based upon projects. More and more companies are delivering their products, services or solutions through projects. Thus the execution of projects is becoming increasingly crucial for the success of the company as a whole.
In the companies which are involved in delivering highly innovative projects, success is directly linked with an organization-wide acceptance of what is needed to manage complexity: a genuine focus on creating structures and competences that strengthen the project leader’s ability to manage complex projects.
What are your thoughts?
This post was originally published on LinkedIn on 2 February 2015.