How to revitalize your organization's performance management soultion? Part 3
My last article on revitalizing your performance management solution (Part 2) discussed how to use the assessment results to start to develop a revitalization plan. In this article, we will discuss how to develop a successful project plan.
After you have identified the issues inhibiting you from maximizing the returns from your performance management solution, it is time to develop 1) the business case to “obtain” the approval and funding to carry out this project, and then 2) the project plan to outline the roadmap and the strategies for your project.
A winning business case should address the following:
Why you are proposing the project. The assessment that you have conducted should provide insight to some of the issues that are preventing the organization from fully utilizing its performance management solution. It is important that you state what these issues are and the impacts on the organization if these issues remain unresolved.
The value to the organization that this project will deliver. The value should be clearly stated in a way that leaves no doubt about why this project should be undertaken. For example, you might include a statement similar to “Once implemented, this initiative will enable the organization to reduce $50 million in operating costs.”
The project vision. The project vision should describe how the organization will look once the project has been implemented.
The objectives of the project. The objectives for the project should be clearly stated,action oriented and measurable. For example, if one of the objectives for undertaking the revitalization of your performance management solution is to allow managers throughout the organization to make timely and effective decisions; then its measure of success could be “By December 31st 2008, all managers within the organization will have access and be using real time management information to make decisions.
The cost requirements for your project. Keep in mind that your business case is not a detailed project plan; therefore, it is important to layout the high level cost estimates, but not the details costing of every phase of the project. Some of the high level cost might include the investment costs (i.e. the costs to conduct the project), the operating costs once the project is implemented, and the benefits to be delivered post-project implementation.
Risks and Risk Management Strategies. All the major risks that could impact your project and the mitigation strategies to manage these risks should be stated. If one of the project risks is the buy-in from employees, you might propose a strategy to obtain executive support, which is typically one of the key success factors, for an organizational project.
Resource Requirements. The type and the extent of resources required to carry out this project should be included. This information is important to those who approve the project, especially for those resource extensive projects. It provides an estimate on the impact of your project on the organization’s capacity to carry out its operational requirements.Timing and deliverables. You should also provide a broad estimate of when the project will start and finish, as well as any major deliverables to be expected during the course of the project.
Now that you have presented and obtained approval for your project, you need to start to develop the project plan, which has a high impact on the delivery and the success of the project.
A project plan should consider the following key elements:
Manage the expectations of your key stakeholders. Stakeholder management is critical as to obtain the required “buy-in” to implement your initiative/project.
Develop a communication plan. Any project is likely to have an impact on individuals within, as well as outside, the organization, including stakeholders, employees, suppliers, and sometimes even clients. It will be important to keep informing everyone who needs to be informed.
Select your project team. I have always found that the smaller the team the better, ideally 6-8 people will suffice. The project members should be well respected throughout the organization and have a track record of getting things done.
Bring in a good facilitator. A good facilitator can help educate not only the project team, but everyone else in the organization about this initiative. Putting an effective performance management solution in place often requires a change in the organizational culture, including the people who manage as well as those being managed. A good facilitator can accomplish this effectively by cultivating this new “environment”.
Your project is now approved and its roadmap are in place, all you need to do is work with your project team collaboratively to implement your performance management solution.
This performance management series is an integral part of a book I am currently writing, your comments and feedback about these articles would be much appreciated.