Is your organisation’s strategy yielding results?
Financial service providers are currently seeking growth at a grand scale, be it growing into new premises and new markets (particularly across Africa) or growing in terms of adopting new methods of working, that requires a mind-shift in how their workforces operate in an increasingly connected and digital world. With regulatory, technological, consumer behavior and workforce changes afoot, financial service providers are increasingly finding that getting to the ‘heart of the change’ is of paramount importance to drive sustainable strategy realisation. Strategic projects are the engines of growth, while people are the engine of projects. In Deloitte’s experience most projects fail due to people problems more than technical problems. People within large, complex organisational structures are often exposed to organisational processes and policies that are counterproductive, which in turn makes them change apprehensive. Programme Management Offices (PMOs) are often perceived as adding administrative costs and bureaucracy without a clear correlation to business benefits. Furthermore, the ability to achieve strategic alignment and integrate results from strategic imperatives has proven to be very challenging.
Results Management Offices (RMOs) strip away the inessentials, minimise the hierarchical approach to projects and embraces communities of practice (CoPs) to develop pragmatic methods that are consistent, measurable and effective. The RMO provides a foundation to deliver integrated and strategy-aligned programmes and projects, through improved strategic and tactical decision-making, as well as greater transparency to business benefits and decisions. The project managers remain responsible for execution; however, the RMO will actively support results driven execution by embedding strategy into operations and budgets, managing the critical path and outcomes, ensuring organisational readiness and measuring shareholder return.
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