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“A brilliant strategy, blockbuster product, or breakthrough technology can put you on the competitive map, but only solid execution can keep you there.” states a study conducted by Harvard Business Review (1).
Delivering on the intent is important. Unfortunately, most companies aren’t very good at it, confirms an HBS survey. In a five-year-long study, the HBS team invited many thousands of employees (about 25% of whom came from executive ranks) to complete an online assessment of their organizations’ capabilities, a process that generated a database of 125,000 profiles representing more than 1,000 companies, government agencies, and not-for-profit organizations in over 50 countries. Three out of every five companies were rated weak at execution by the employees. Most employees answered ‘no’ when they were asked a question ‘Important strategic and operational decisions are quickly translated into action’.
To meet performance expectations in the ever-changing business environment or to stay ahead of the competition, organizations need to keep transforming.
My book ' Transform and Thrive - A step by step guide to successfully executing organization transformation projects and programs' is aimed at increasing the success rate of transformation projects and programs.
The book is accessible from http://amzn.to/2zgUT9i
For Kindle version (India) https://www.amazon.com/e/B0779PQZ8H
The book focuses on providing project management practitioners and business leaders with the qualitative information and knowledge to deliver the envisaged ‘value’ to organizations by successfully executing transformation projects and programs. Organizational transformation projects are among the most challenging endeavors that enterprises undertake. Failure rates are high.
The rapid change in business requirements has also brought in new challenges to existing practices of Project Management. Organizations expect project managers/transformation leaders to deliver ‘value’ to the business and not only the assigned ‘scope’, and to handover a transformed organization in time and within the budget. The need to deliver ‘value’ and a ‘transformed organization’ have changed the role of a project manager to a transformation leader. Successful project execution is critical in delivering required results faster and remaining aligned with an organization’s objectives. A professional approach can significantly increase chances of success of projects and programs. Projects that follow project management methodologies led by leadership that is equipped with required knowledge and skills have a significantly higher success rate as compared to the projects where the project leadership is not adequately skilled and knowledgeable.
It is the quality of execution which creates the difference.
Many businesses, public sector undertakings, and not-for-profit organizations are reaping the benefits from successful implementation of transformation programs. High performing organizations and progressive economies have adequately invested in building required project management processes and skills and have significantly increased the rate of success in executing transformation programs.
However, many projects/programs fail to deliver envisaged benefits mainly due to poor execution. The number of transformation programs which fail or are only partly successful is more than the successful ones. Though organizations spend lots of resources on transformation initiatives, measurable downstream benefits like higher customer satisfaction, on-time delivery, and cost reduction, often fall well short of expectations. The book explains the best practices for executing transformation projects and programs, taking the reader step by step through all the stages and aspects of the transformation journey. It will thus serve as a useful and insightful manual or guidebook. The book also discusses reasons for project and program failures, skills required by transformation leaders and the process of setting up a transformation management office.
Appreciate your reviews and feedback
1.Neilson, G., Martin, K. & Powers, E. 2008.' The Secrets to Successful Strategy Execution' in Harvard Business Review. Retrieved from: https://hbr.org/2008/06/the-secrets-to-successful-strategy-execution