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Why Transformations Fail and How Could Project Management Help/

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My keynote at PMI India Regional Conference at Trivandrum, Apr 27

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Why Transformations Fail and How Could Project Management Help/

  1. 1. Why transformations fail and how project management could help? Tathagat Varma Country Manager, NerdWallet RIP Transformation 4.6 Born:Too Late Died:Too Early Ignored when alive & Missing when dead!
  2. 2. My personal views!
  3. 3. Reality is often broken :(
  4. 4. Hardly a new fad!
  5. 5. Reinvented through ages…! • Total Quality Management • Business Process Reengineering • Process Redesign • Right Sizing • Restructuring • Turnaround • Agile Transformation • Digital Transformation • < insert your favorite new shiny thingy here >
  6. 6. So, what is Transformation? • A marked change in form, nature or appearance • A complete change in the appearance or character of something or someone, especially so that that thing or person is improved
  7. 7. In a business context… In management, business transformation involves making fundamental changes in how business is conducted in order to help cope with shifts in market environment. Business Transformation is the process of fundamentally changing the systems, processes, people and technology across a whole business or business unit, to achieve measurable improvements in efficiency, effectiveness and stakeholder satisfaction. As such, a business transformation project is likely to include any number of change management projects, each focused on an individual process, system, technology, team or department. - Wikipedia
  8. 8. Lewin’s Change Model Unfreeze Change Refreeze
  9. 9. Lewin Force Field Analysis https://daniellock.com/force-field-analysis/
  10. 10. Some work, some don’t! http://archive.constantcontact.com/fs136/1105402515913/archive/1109093751779.html
  11. 11. Sadly, most still fail! 70-85%
  12. 12. Only getting worse…?
  13. 13. With familiar challenges…
  14. 14. Why Transformations Fail - Kotter, HBR, 1995 • Not Establishing a Great Enough Sense of Urgency • Not Creating a Powerful Enough Guiding Coalition • Lacking a Vision • Undercommunicating the Vision by a Factor of Ten • Not Removing Obstacles to the New Vision • Not Systematically Planning For and Creating Short- Term Wins • Declaring Victory Too Soon • Not Anchoring Changes in the Corporation’s Culture https://hbr.org/1995/05/leading-change-why-transformation-efforts-fail-2
  15. 15. So, how could project management help?
  16. 16. Critical Success Factors 1. Compelling Vision 2. Establishing the Urgency 3. Ownership by Top Leadership 4. People Engagement 5. Communicating to Frontline Employees 6. Critical Roles 7. Integrated Approach 8. Measure Progress Objectively 9. Create Lasting Change 10.People, People, People
  17. 17. #1: Compelling Vision
  18. 18. #2: Right Urgency http://www.ontheagilepath.net/2017/03/cost-of-delay-a-key-metric.html
  19. 19. #3: Top Leadership https://www.mckinsey.com/business-functions/organization/our-insights/the-people-power-of-transformations Overall, respondents agree that their companies’ CEO are deeply involved in transformational change
  20. 20. #4: People Engagement In successful transformations, employees in every role tend to be more engaged, especially at lower levels of the organization https://www.mckinsey.com/business-functions/organization/our-insights/the-people-power-of-transformations
  21. 21. Low involvement kills! Across roles, line managers and frontline employees are the least likely to report transformation success https://www.mckinsey.com/business-functions/organization/our-insights/the-people-power-of-transformations
  22. 22. #5: Communicating to the Frontline Frontline employees differ from others in their views on the best ways to engage them in transformations https://www.mckinsey.com/business-functions/organization/our-insights/the-people-power-of-transformations
  23. 23. What’s in it for me?
  24. 24. Companies do much more! Companies with the most successful transformations do more than others to communicate with and engage the front line https://www.mckinsey.com/business-functions/organization/our-insights/the-people-power-of-transformations
  25. 25. #6: Critical Roles • CEO • Senior Leaders • Human Resource leaders • Leaders of PMO or transformation offices • Initiative Leaders • Line Managers • Change Agents https://www.mckinsey.com/business-functions/organization/our-insights/the-people-power-of-transformations
  26. 26. Do your role! Success is likelier when employees play their own unique roles! https://www.mckinsey.com/business-functions/organization/our-insights/the-people-power-of-transformations
  27. 27. People in new roles Successful transformations are likelier to move people around - in moderation - and bring in new talent https://www.mckinsey.com/business-functions/organization/our-insights/the-people-power-of-transformations
  28. 28. #7: Integrated approach https://www.mckinsey.com/business-functions/organization/our-insights/leading-organizational-transformations
  29. 29. Alignment with Business Results
  30. 30. #8: Measure progress objectively
  31. 31. #9: Create Lasting Change http://www.mbatools.co.uk/Change%20Management/changemodels.htm
  32. 32. Burn the boats!
  33. 33. #10: It’s still all about people!
  34. 34. People + Business => Successful Change
  35. 35. Recap
  36. 36. References • https://hbr.org/2018/03/why-so-many-high-profile-digital-transformations-fail • https://www.brothers-brick.com/2016/01/21/lego-digital-designer-officially-defunded-and- unsupported-news/ • https://www.forbes.com/sites/brucerogers/2016/01/07/why-84-of-companies-fail-at-digital- transformation/#5a8ca947397b • https://hbr.org/1995/05/leading-change-why-transformation-efforts-fail-2 • https://www.entrepreneur.com/slideshow/227627 • https://www.mckinsey.com/business-functions/organization/our-insights/leading-organizational- transformations • https://execed.hec.edu/en/news-resources/news/change-management-what-are-the-key-success- factors • https://www.prosci.com/adkar/adkar-model • https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/why- transformations-fail-a-conversation-with-seth-goldstrom

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