By Stephen S Bonham
Exhibits pros find out how to combine functionality, strategy, portfolio, undertaking, and hazard administration so their businesses can reply extra quickly and successfully in a hugely aggressive atmosphere. This quantity explains how approach portfolio administration builds a company knowledgebase that controls procedures.
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Extra resources for Actionable Strategies Through Integrated Performance, Process, Project, and Risk Management
Turnarounds can be very chaotic and desperate experiences that result from unforeseen events, or blindsides. When they occur, crisis management supersedes day-to-day management. Are the criteria for choosing projects correct, are the tracking metrics representative of true performance, have we discovered all possible risks, and are our competitors in fact improving their processes more quickly than we are? These are normal questions that should be asked by companies in a farming phase. Questions that would be asked by companies entering a turnaround via a blindside would include, can we recover from a felony conviction [2–4], can we reverse a crisis with an effective public relations campaign [5–7], or will we get our money back [8–10]?
In short, a Stage 2 company has exited the chaos of the wilderness, is smoothing out its rough edges, and is becoming a more well-rounded organization—as seen both from the outside and the inside. Stage 3: Professionalization At this stage, the sponsors of a venture realize that they can’t just pump money, resources, and IT systems into the mix to support continued growth. They now need Corporate Maturity 35 to develop management systems that help organize and plan the growth. Here, the F&R model begins to align with the sustaining-success phase of STaRS.
1. Projects to improve processes: Kaizen, Lean, Critical Chain, and Six Sigma are all methods used by companies to identify and then improve processes. Process improvement can involve initiation of a project to automate part or all of the process, to replace a process, or to eliminate a process. For example, the entire suite of human resources processes can be outsourced, and the finance department’s spreadsheets can be replaced by an enterprise resource planning (ERP) system. Such projects should be reviewed, prioritized, and audited like any other project in the project portfolio.
Actionable Strategies Through Integrated Performance, Process, Project, and Risk Management by Stephen S Bonham