Transformation Confidence – Maximizing return on strategic initiatives

Leveraging risk management to drive successful transformation outcomes

To gain a competitive advantage, many companies are undertaking an unprecedented amount of change to keep pace with competition, adapt to changing business demands or adopt new technology to enable their strategy. While the benefits of complex transformations can be great, they’re not without significant risks and not all companies achieve expected outcomes. Failure to manage the inherent and residual risks successfully can have many adverse consequences, including operational, reputational and financial impacts.

Despite the high stakes, these transformational initiatives continue to struggle. Most independent research suggests typical technology-enabled project failure rates are between 30% and 50% – a problem that’s gaining growing attention from boards, C-suite executives (including sponsors), and risk and audit executives. All these groups are recognizing the risks posed by large technology-enabled initiatives. They want answers to such questions as:

• What is the pulse of the program?
• Are we on-time and on-budget?
• Are we delivering the planned scope and objectives?
• Are we maintaining the integrity of or improving our control environment?
• Are we going to realize the value and benefits from our investment?