Driving successful change
The Project journal archive has a wealth of material that we have sifted through in order to gain some insight into how we can ensure successful project delivery, for any size project. In the third of the Project Digest Series we look at a selection of six articles around the requirement for change and digital transformation in companies and what this means for project management, as well as how it should be managed successfully.
1. Technological disruption and challenges
A surge of powerful, new technologies is infusing the sector with both opportunities and challenges – promising greater efficiencies once they are in place, yet requiring firms to exercise discernment to ensure they adopt the right tools in the right ways, and for the right reasons.
Why embrace new technologies?
To improve efficiency, take away admin, boost control and visibility, and enable new ways of working on the go, anytime and anywhere. Far from being a threat to employment, technology should enhance business agility and flexibility in order to deliver improved outcomes.”
If people are a key resource, how should we respond?
New entrants to the profession should however keep an eye on the skills that will continue to be in demand, and which AI advancements will support, such as more complex consulting and modelling tasks, data analytics/interpretation, and the recommendations that project managers make to their clients. Read more about projecting the future.
2. How to keep your projects on track in times of change
Project interviewed bestselling-author and change-management guru Dr John Kotter, whose seminal work Leading Change, remains the go-to guide for change managers.
Kotter told Project: “I became convinced that one of the most important factors behind why some people outperform others is how well they can handle a fast-changing world.”
According to Kotter project managers should look to employ three strategies to keep their change projects on track – involve lots of people, win over their hearts as well as their minds, and give them the freedom to act. Read more about the King of Change and how project managers can help their organisations navigate today’s most complex challenges. Feel like you need additional resources? Have you read the APM book produced by the Enabling Change SIG, Introduction to managing change?
3. Six key factors for successful change
Almost all organisations undergo change of varying degrees, complexity and magnitude, with billions of pounds being invested every year. The cost of failure can have a catastrophic effect for the organisation and its people; therefore, it is critical to understand the success factors to improve outcomes and optimise return on investment. Whether it be delivery of a new asset, process, structure or system, until it has actually been adopted and is used in the way it was intended, the change is not complete and the full benefits will not be realised.
Success factors are management practices that, when implemented, will increase the likelihood of success of a change initiative. Their presence does not in itself guarantee success, but their absence will contribute to failure. These success factors form a framework that describes an organisational environment vital for success of change initiatives, and provide a mechanism to help organisations improve.
4. Championing the 'change sponsor'
One crucial component makes all the difference as to whether a change project succeeds or fails... Over the last three decades, studies have shown that 70% of transformational changes fail consistently. Even with exemplary project management disciplines, enthusiastic change agents who are poised to act, and imperatives that cannot be avoided, change rarely delivers on its promise. So, why do change projects fail?
Theresa Beach argues that a lack of effective leadership is the primary reason that change projects fail. Leaders of businesses today, regardless of the industry that they work in, cannot avoid the role of ‘change sponsor’. Read more about what effective sponsors need to do to ensure they lead through times of change.
5. Is there a case for choosing agile?
In the modern world, agile approaches are far better suited to our demanding, fast-paced world: an environment where change is the only constant – eg changing technology, changing business models and changing customer needs. Businesses need to be flexible, adaptable and responsive to change if they are to survive and be successful.
Many people think of agile as a toolset. But in the words of the chairman of the Agile Business Consortium, Steve Messenger: “Agile is more about mindset and behaviours than method and tools.”
What agile does differently is accept and embrace the fact that change is inevitable and estimates are just that. Rather than pretending that the three cornerstones of the ‘iron triangle’ – time, cost and quality – are immutable, an agile project manager agrees when things are needed and what the budget is, and then flexes delivery. Read more about how sponsors and assurance sit at the heart of agile projects.
Also have a look at our article, The beginners guide to agile, and discover the agile project management section to learn about the benefits of using agile on the APM website.
6. How is the digital revolution impacting financial services clients?
Managing change – such as increased regulation, economic upheaval and technological disruption – is driving banks to adopt more speed and agility in their project delivery, writes Kevin Reed in the article 'Teaching old banks new tech'.
The role of project management is changing because people want to deliver faster in a more collaborative manner. Whether it is scaled agile or some other form of agility, it will fundamentally change project management and the role of the project management office (PMO).
There is a real debate about how banks can scale their project and programme management capability to deal with both, as well as manage the challenges of the programme itself. Here are some examples around the challenges associated with bank transformation programmes.