Growth – Page 2 – Godinterest

February 8, 2016July 1, 2022

How To Deliver On The Promise of MegaProjects

Due to the large scale and outlook attached to them, mega-projects have a large opportunity for failure. Typically, the failure begins at the outset of the project, whether that be due to poor justification for the project, misalignment among stakeholders, insufficient planning, or inability to find and use appropriate capabilities.

Underestimated costs and overestimated benefits often offset the baseline for assessing overall project performance. This is why it is important for organizations to first establish social and economic priorities before even considering what projects will answer their needs. Once social and economic priorities are established, only then can a project be considered. Selecting projects must be fact-based and transparent in order to ensure accountability with stakeholders and the public.

Successful Megaprojects Must Have Robust Risk-analysis or Risk-management Protocols

It’s also important to maintain adequate controls. Successful megaprojects must have robust risk-analysis or risk-management protocols and provide timely reports on progress relative to budgets and deadlines. Typically, progress is measured on the basis of cash flow, which is less than ideal as data could be out of date and payments to contractors do not correlate construction progress. Instead, project managers should deliver real-time data to measure activity in the field. For example, cubic meters of concrete poured relative to work plans and budgets.

Overall, improving project performance requires better planning and preparation in three areas: doing engineering and risk analysis before construction, streamlining permitting and land acquisition, and building a project team with the appropriate mix of abilities.

Project developers and sponsors should put more focus into pre-planning such as engineering and risk analysis before the construction phase. Unfortunately, most organizations and sponsors are reluctant to spend a significant amount of money on early-stage planning because they often lack the necessary funds, they are eager to break ground and they worry the design will be modified after construction is underway, making up-front designs pointless.

However, it’s proven that if developers spend three to five percent of capital cost on early-stage engineering and design, results are far better in terms of delivering the project on-time and on-budget. This is because through the design process, challenges will be addressed and resolved before they occur during the construction phase, saving both time and money.

It’s not unusual for permits and approvals to take longer than the building of a megaproject. However, if developers look to streamline permitting and land acquisition, that would significantly improve project performance. Best practices in issuing permits involve prioritizing projects, defining clear roles and responsibilities and establishing deadlines.

In England and Wales, developers applied these approaches to cut the time needed to approve power-industry infrastructure from 12 months to only nine months. On average, timelines for approval spanned four years throughout the rest of Europe. Likewise, the state of Virginia’s plan to widen Interstate 495 in 2012 was able to cut costs and save hundreds of homes thanks to land acquisition planning by a private design company.

Investors and Owners Must Take an Active Role in Creating the Project Team

When it’s all said and done, projects cannot deliver the best possible return on investment without a well-resourced and qualified network of project managers, advisers and controllers. Investors and owners must take an active role in creating the project team.

It’s not enough to have a vague overview of what the project might look like in the end. Instead, it’s necessary to review risks and costs and draft a detailed, practical approach to tackle various issues. An experienced project manager cannot do it all alone. The project team must include individuals with the appropriate skills, such as legal and technical expertise, contract management, project reporting, stakeholder management, and government and community relations among others.

Failure to Properly Plan for These Projects Could Have a Negative Impact on Society

While mega-projects are important in filling economic and social needs, failure to properly plan for these projects could have a negative impact on society. Take Centro Financiero Confinanzas (Venezuela), the eighth tallest building in Latin America at 45 stories, located in the financial district of Venezuela’s capital, Caracas for example.

To those unaware of its history, the Centro Financiero Confinanzas is actually home to over 700 families, a “vertical slum” that is a truly fascinating example of reappropriation of space in an urban environment. An ironic symbol of financial failure that was intended to represent the unstoppable march of Venezuela’s booming economy.

It’s much more than an unbuilt building, bridge or tunnel, failed mega-projects are a blow to the economic growth and social improvements of communities around the world.

October 13, 2015July 1, 2022

34 Thought Provoking Change Management Quotes

Change is good. It’s also often hard. The status quo can be so much more comfortable. But to succeed in business, you must run toward change. Companies most likely to be successful in making change work to their advantage are the ones that no longer view change as a discrete event to be managed, but as a constant opportunity to evolve the business

Here are 34 thought provoking change management quotes:

It is not the strongest or the most intelligent who will survive but those who can best manage change — Charles Darwin
One key to successful leadership is continuous personal change. Personal change is a reflection of our inner growth and empowerment — Robert E. Quinn
Change before you have to — Jack Welch
You must embrace change before change erases you.
— Rob Liano
Change before you have to — Jack Welch
Too few leaders have the emotional fortitude to take responsibility for failure.
— Paul Gibbons, The Science of Successful Organisational Change: How Leaders Set Strategy, Change Behaviour, and Create an Agile Culture
People don’t resist change. They resist being changed! — Peter Senge
If you want to make enemies, try to change something — Woodrow Wilson
The key to change is to let go of fear — Rosanne Cash
The world hates change, yet it is the only thing that has brought progress — Charles Kettering
There is nothing more difficult to take in hand, more perilous to conduct, or more uncertain in its success, than to take the lead in the introduction of a new order of things — Niccolo Machiavelli
Change is the law of life and those who look only to the past or present are certain to miss the future — John F. Kennedy
Even those who fancy themselves the most progressive will fight against other kinds of progress, for each of us is convinced that our way is the best way.
— Louis L’Amour
Whosoever desires constant success must change his conduct with the times — Niccolo Machiavelli
Your success in life isn’t based on your ability to simply change. It is based on your ability to change faster than your competition, customers and business — Mark Sanborn
Change your thoughts and you change your world — Norman Vincent Peale
If you don’t like change, you will like irrelevance even less — General Eric Shinseki (U.S. Army Chief of Staff, 1999-2003)
We now accept the fact that learning is a lifelong process of keeping abreast of change. And the most pressing task is to teach people how to learn — Peter Drucker
Whosoever desires constant success must change his conduct with the times
— Niccolo Machiavelli
All is connected, no one thing can change by itself
— Paul Hawken
Learn to adjust yourself to the conditions you have to endure, but make a point of trying to alter or correct conditions so that they are most favorable to you — William Frederick Book
We would rather be ruined than change
We would rather die in our dread than climb the cross of the moment and let our illusions die — W. H. Auden
Every generation needs a new revolution — Thomas Jefferson
Never doubt that a small group of thoughtful, concerned citizens can change the world. Indeed it is the only thing that ever has — Margaret Mead
I’ll go anywhere as long as it’s forward — David Livingstone
Life isn’t about finding yourself. Life is about creating yourself — George Bernard Shaw
Adaptability is about the powerful difference between adapting to cope and adapting to win— Max McKeown
You can’t build an adaptable organization without adaptable people–and individuals change only when they have to, or when they want to — Gary Hamel
People will try to tell you that all the great opportunities have been snapped up. In reality, the world changes every second, blowing new opportunities in all directions, including yours — Ken Hakuta
A wise man adapts himself to circumstances, as water shapes itself to the vessel that contains it — Chinese Proverb
The price of doing the same old thing is far higher than the price of change — Bill Clinton
Each of us has the opportunity to change and grow until our very last breath. Happy creating — M.F. Ryan

Change or die? we choose life! How about you?

September 12, 2015July 1, 2022

2 Ways Residential Elderly Care Providers Can Drive Growth

The care sector is growing fast. People are its most valuable asset and investment in care-home developments is being fuelled by an ageing population and a growing demand for specialist skills.

Scalability and Replication Have Now Become the Building Blocks That Will Enable Residential Elderly Care Providers to Sustain Growth, Deliver Successful Change and Achieve High-quality Service Outcomes

Dean Jones, former Investment Growth Programme Manager for Care UK offers insight into how REC providers can take advantage of market opportunities by building a sustainable and scalable system. Jones’ experience includes programme managing a £250 million investment-growth programme from 2012 to 2015, which involved building and commissioning 20 new state-of-the-art care homes and their services. He also oversaw a £60 million 3-year investment in a Suffolk programme, for the building of 10 new care homes and 10-day clubs and bringing much needed additional nursing and dementia-specialist care to the community.

REC Providers Can Develop Their Own Blueprints to Replicate and Scale Growth

REC providers can learn much from Jones’ involvement with scaling successful care homes. In his work at Care UK, Jones employed innovative ideas for evolving the next generation of care homes and introducing a competitive edge through unique selling points to harness market potential. The trendsetting programmes have led to phenomenal success, with more than 30 new homes built over a five-year period, a level of growth rarely seen in this sector. Jones describes how REC providers can develop their own blueprints to replicate and scale growth.

Building a foundation

The organization relied on a guiding principle as it developed a scalable system. It consisted of a toolkit that would outline how to manage projects and launch new homes, along with the standard of care the organization expected once a home is operational. The first system in the toolkit, the Project Management Blueprint (PMB) consisted of methodologies, processes and systems that would guide the creation of an ambitious and exciting growth pipeline for new homes.

The Blueprint ensured that the programme and project’s team resources would deliver high-quality outcomes through the practice of sound project management, both at a programme and individual project level. However, the Blueprint was just one of three tools the organisation would use to govern the commissioning and operation of new care homes. The other tools, a Home Manager Launch Manual (LM) and a suite of Standard Operating Procedures (SOP), complemented the programme on the whole.

Building the Capability to Service the Demand Is the Key to Driving Growth

The blueprint

Creating the demand for growth and the environment for change is not enough to generate scalability. According to Jones, building the capability to service the demand is the key to driving growth. Instead of control, managers need to:

Introduce a framework and certainty about processes.
Implement repeatable best practices.
Build the ability to drive quality.
Equip people to do the best job possible.
Introduce a suite of project documents that directly suit the organisation’s purposes while ensuring consistence use.
Increase efficiency and productivity.

As a result of the Blueprint, Care UK was able to construct the building blocks for scalability and replication that would encourage change, growth and quality outcomes. When the foundation of an organisation is built on highly standardised and formal processes underpinned by highly developed performance-monitoring systems and the ability to control quality, it has a scalable business model. Another component involved in the process, evolving the product offerings through a process of service innovation enabled Care UK to apply standardised business-model concepts.

The requirements

Building a methodology for scalability involves considering project and business requirements first. Then, the organization can develop a system that meets the business and management-style needs to deliver successful outcomes. Jones employed a methodology that outlined the standard project-management methods to be used, and practices and guidelines to follow when managing new-home opening projects and business-transformation projects. With a disciplined, well-managed and consistent methodology, Care UK promoted the delivery of quality products and services, on time and within budget for each location.

The essential benefit of adhering to such a defined project- and programme-management methodology is the ability to demonstrate repeatable successes, rather than learning the same difficult lessons again and again. The objective of the methodology ensures that each new home opening was delivered to the highest possible standards via:

High-quality product or service that adheres to the business case.
Excellent standards of care and service.
Financial performance that achieves or exceeds the business case.
Homes or change initiatives delivered on time.
Projects executed on budget.

Relationships

Effective working relationships are also critical to the success of large-scale projects. Management tactics based on a matrix structure ensure that functional and operational resources are aligned across the business. This approach results in significant advantages, as it enables effective and responsive participation from different parts of the organisation that have specialist expertise. In Jones’ matrix, people from different parts of the business took a lead role in managing a specific work stream and were known as Work Stream Leaders. Jones also adopted the RACI technique for identifying functional areas, key activities and decision points where ambiguities exist.

Project Lifecycle

The management of any large, complex project is made easier when broken down into more manageable chunks. This unique approach to the project’s lifecycle enabled Jones’ to establish clear controls, e.g. review points, or gateways, at which to consider progress before moving on to the next phase. The Care UK project lifecycle methodology consisted of five distinct stages, with each stage considered as a sequence, providing the structure and approach to progressively deliver the required outputs.

Risk and issue management

Focusing on critical risk issues helps programme managers mitigate threats. Regularly planning and leading benefit reviews helps organizations drive success and ensure that profits aren’t eaten up by largely avoidable risks. For example, a slight reduction to a home’s expected average weekly fee (AWF) – although based on a more up-to-date market analysis – could have a detrimental effect on the bottom line. However, if this market analysis re-evaluation were to take place at the pre-planning stages, then the organization has an opportunity to review down spec. Key decisions like these must be managed with due diligence and care, by referring to the original business case and using a clearly defined change-control process, and then directing such matters to the programme board for approval.

Recommendations

Programme managers embarking on a scalability journey should note that before diving into the planning of a system of methodologies and processes, it’s important to first understand what needs to be fixed. Jones began his appointment at Care UK by working with a small team. They spent time getting into the nitty gritty of launching care homes, reviewing checklists, liaising with the Care Quality Commissions (CQC), and understanding the business and identifying gaps. Only then did he present the findings and gain support for the project’s Blueprint. Managers also need to understand the organisational culture in which they operate, and then adapt their approach accordingly. Finally, gaining senior management trust is another critical step, as approval and support helps form links throughout the organization – including the lower-management levels.

Successful organizations need managers with a breadth of knowledge – not necessarily construction management expertise – to successfully drive the outcomes of the project. They also require some understanding of IT systems, staff, marketing strategy and more. Only then will the organisation reap the strategic benefits of higher management-level expertise. With the right approach to project management and creating repeatable systems, care home organizations can seize market conditions and drive growth, while delivering quality outcomes through scalable building blocks.