Delivering Transformation in a Cost-Constrained Environment
Insights from Calleo’s Transformation Leaders Roundtable
As businesses strive to remain competitive and relevant, the need for ongoing transformation is undeniable. However, amidst a domestic economy on the brink of recession and a challenging macroeconomic environment, business leaders are hesitant to commit to costly programs. In this context, transformation leaders must streamline, prioritise, and use data-driven insights to achieve measurable strategic benefits.
With this in mind, Calleo convened a diverse group of Transformation Leaders, including CIOs, CTOs, General Managers, and Heads of Departments, from various organisations across Melbourne. They shared their knowledge, experiences, and strategies for delivering transformations in a cost-constrained environment.
Key Insights
List of Services
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1. Simplification vs TransformationList Item 1
The conversation was launched by one of the guests interestingly advocating against transformation. A Project Director for a Federal Government organisation, commented on how a significant percentage of his time and effort when he started in his role was spent “killing projects” to ensure efforts are focused on where the best ROI is available.
Successfully delivering two high value projects is far more valuable than attempting to deliver ten different projects, as it will help with building momentum in the Delivery teams as well as the confidence of the Executive team.
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2. Aligning Transformation to Strategic Business ObjectivesList Item 2
Following on from the discussion on simplification over transformation, a Project Director from a well-known financial institution raised the topic of ensuring any transformational activities are strongly aligned to strategic business priorities.
Before embarking on a Transformation journey, the business must have a clear vision of their strategic priorities to inform the value of projects and programs. It’s easy – particularly for executives – to be wooed by shiny technology solutions, which often solve problems that aren’t relevant to the business.
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3. The Importance of PrioritisationList Item 3
Once a Transformation is underway, the ability of leaders to strategically prioritise initiatives can often become a key determinant of the success of the program.
Linking back to the point of simplification over transformation, a smaller amount of successfully delivered initiatives creates momentum within Delivery teams and garners Executive support, both critical factors in the delivery of large transformation programs.
One of our guests, a General Manager from a well-known Technology Product business, recounted an experience of bringing Executives into a Planning session and writing every initiative on a Post-It note that was stuck on the wall of the meeting room. By the end of the planning session, the entire room was filled with Post-It notes. This helped the executive to visualise the vast number of initiatives involved in the transformation and the critical need to strategically determine priorities to avoid overwhelming all involved.
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4. Utilising, but not relying, on Data-Driven InsightsList Item 4
Using data to drive insights into the progress of a transformation can be a powerful tool in bringing stakeholders on the journey of a transformation, however sometimes it can be hard to quantify progress using data alone.
Another guest, a Project Director from a large superannuation firm, discussed how utilising data and insights through dashboards can be powerful, but that it must also be supported by directly speaking with stakeholders as this is the most powerful way to influence and understand shifting priorities.
Conclusion
Navigating transformation in a challenging economic landscape calls for strategic focus and disciplined execution. The key principles shared by transformation leaders emphasise the importance of simplification, aligning efforts with strategic business objectives, and prioritising initiatives effectively. Utilising data-driven insights, complemented by strategic communication, can help engage stakeholders and articulate delivery progress.
In a climate where economic uncertainties and resource constraints loom large, these principles serve as guiding beacons for transformation leaders, empowering them to navigate challenges and deliver impactful change that aligns with business needs and drives sustainable success.
