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Actionable Insights for Success
In our previous blog post, we reviewed "The Strategy Implementation Gap" by James Bawtree and Michael Young, highlighting the critical challenges organisations face in turning strategic objectives and plans into reality. Today, as failure rates appear to be increasing, we delve deeper into the book's insights and provide actionable steps to help you bridge this gap and achieve your strategic goals effectively.
1. Understanding The Strategy Implementation Gap
The Strategy Implementation Gap refers to the disconnect between an organisation's strategic goals and its ability to execute them. This gap often arises due to changes in the external environment such as digital disruption, AI and the organisation's internal capabilities or skills shortages. To address this, Bawtree and Young emphasise the importance of aligning strategy with execution through a structured approach.
2. Key Insights and Actionable Steps
Clarify Your Purpose
Insight: A clear and compelling purpose is essential for guiding your organisation's strategic direction.
Action: Define and communicate your organisation's purpose, ensuring it resonates with both employees and stakeholders. This purpose should be reflected in your strategic plan and serve as a "north star" for decision-making.
Example: In the case of the Smith Family Sustainability Program, PMLogic helped the organisation define its purpose around sustainability and community impact. This clear purpose guided the strategic initiatives and ensured alignment with the organisation's long-term goals.
Develop an Adaptive Strategy
Insight: In a rapidly changing environment, a static strategic plan is insufficient.
Action: Create a bi-modal strategic plan with fixed long-term goals and flexible short-term actions. Regularly review, for example quarterly and adjusting your strategy to respond to external changes and internal learnings.
Example: For the Regional and Local Roads Repair Program (RLRRP), working with 32 NSW councils, PMLogic developed an adaptive strategy that allowed for flexibility in response to changing environmental conditions and community needs. This approach ensured the program's success despite unforeseen challenges.
Foster a Culture of Implementation
Insight: Successful strategy implementation requires a supportive organisational culture because failures will happen that should be learnt from and not trigger blame.
Action: Empower your teams by fostering a culture of accountability, collaboration, and continuous improvement. Encourage open communication and provide the necessary resources and training to support implementation efforts.
Example: PMLogic's work with all clients includes a people centric approach building a culture of collaboration and continuous improvement. By integrating the teams’ sentiments analysis as part of the second PMLogic principle either attributed or anonymous, we are able to foster a people-centric mindset, and enhance service delivery and achieve strategic objectives.
Establish Strong Governance
Insight: Effective governance structures are crucial for overseeing strategy implementation, they need to govern effectively and not associated holding meetings with how they govern.
Action: Set up a governance framework that includes clear roles, responsibilities, and decision-making processes. Ensure that project sponsors and steering committees are actively involved in monitoring progress and addressing issues.
Example: In the Defence ERP Program, PMLogic established a robust governance framework that ensured transparency and accountability for this >$1.2b program. This framework included regular reviews and clear decision-making processes, which were critical for the program's success.
Leverage Technology and Platforms
Insight: Technology can significantly enhance strategy implementation and ultimately time to value by providing transparency and efficiency.
Action: Implement a strategy implementation platform that integrates with your existing systems. This platform should provide real-time visibility into progress, facilitate collaboration, and support data-driven decision-making.
Example: PMLogic's implementation of SIP® leveraging the Microsoft Project Server solution for Defence Science and Technology (DST) Group showcased the power of technology in strategy implementation. The integrated platform governed all of DST six portfolios and every project, providing real-time insights and enhancing overall efficiency.
Prioritise and Align Initiatives
Insight: Not all initiatives contribute equally to strategic goals.
Action: Use a prioritisation framework to evaluate and select initiatives based on their alignment with strategic objectives, potential impact, and resource requirements. Regularly reassess and re-prioritise initiatives to ensure they remain relevant.
Example: PMLogic has developed several comprehensive benefits management framework for various clients, including government agencies and private sector organisations. These frameworks ensured that all initiatives were aligned with strategic objectives and that resources were allocated to the most impactful projects. By focusing on benefits realisation or value, PMLogic helped clients achieve their desired outcomes and maximise return on investment
Measure and Evaluate Performance
Insight: Continuous measurement and evaluation are essential for successful implementation.
Action: Establish key performance indicators (KPIs) at the organisational, team, and individual levels. Use both lead and lag indicators to track progress and make data-driven adjustments as needed.
Example: In the AIPM best 2024 NSW Government Project Regional and Local Roads Repair Program (RLRRP), PMLogic established clear objectives and KPIs to measure progress and evaluate performance. This approach ensured that the social, environmental as well as financial measures were aligned with strategic goals and delivered the expected benefits.
3. Conclusion
Bridging The Strategy Implementation Gap requires a holistic approach that combines clear purpose, adaptive strategy, supportive culture, strong governance, effective use of technology, prioritised initiatives, and continuous performance measurement. By following these actionable steps and learning from PMLogic's successful case studies, you and your organisation can turn strategic plans into tangible results and achieve long-term success.
Stay tuned for more insights and practical tips on strategy implementation. If you have any questions or need further assistance, The Strategy Implementation Gap book is available at most major online book stores. PMLogic specialises in helping executives deliver their strategic goals in a sustainable way, so please reach out to the team for help.
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