IBS Journal August 2016 TENETS OF PROGRAM MANAGEMENT FRAMEWORK
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course correction where required.
Measurement is not necessarily a “post-facto” report on an activity delayed. Effective program management is all about reporting lead measures that can help alert a potential delay in timely fashion. A natural corollary to this is the identification and reporting of risk – and categorising it based on the criticality and the impact, gravitating the attention of the management team to the right issue at the right time.
A framework such as the Balanced Scorecard can ensure the measures are holistic in their coverage, and also driven around 15-20 program objectives that best explain the target outcome. That being said, the key to success here is not just having the right measures or framework, but the rigour and discipline in ensuring they are monitored and reported in a timely manner.
4. Change management
Operation successful, but patient dead. That’s the story of programs that meet timeline and budget goals, but fail to carry people along. A disengaged user is like a termite in a wardrobe. The solution? A proactive, effective and disciplined approach by the PMO function to change management. Of course, having the users well oriented and trained on the new platform and the new embedded processes is key. But you must also drive home the top 10 benefits that the change is bringing to the bank, to its customers, and each person in his/her own area. Shying away from highlighting the downsides of the status quo and the risks of creaking technology will not help. And sometimes it’s about reinforcing the message, so it permeates across the bank.
5. Value realisation
It is quite easy to miss the wood for the trees, when the PMO gets entangled in tracking a dozen parallel activities, dealing with 20 different stakeholders and hundreds of project resources on a day to day basis.
There are two parallel approaches to dealing with the challenge of value realisation:
Have a series of major and minor milestones embedded in the program, and drive a culture of celebrating those achieved. This is not just to create a positive environment at the project office, but also an effective means to let the larger organisation know that the program is progressing well.
A practice of broadcasting the larger value that the bank is likely to realise through the program can be quite helpful. It keeps the focus on the larger goal, and also reduces the risk of distraction.
The tenets for program management also help set the priorities. I remember speaking to a bank many years ago, where there was a “department” for core banking transformation projects. It was almost an announcement that the transformation program was going to run forever, and unsurprisingly it did! Dragging the programs beyond their stated timelines can be somewhat like a pill that’s well past its expiry date. Consumption may not only be ineffective in addressing the pain, it may sometimes be fatal too. Repeated reminders of the primary purpose of the program, and reiterating the value it is set to deliver, is a good habit to have.
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