Preparation: the secret of effective Change Management

 

Millions of pounds are wasted each year on change initiatives which take too long, cost too much and ultimately fail to deliver the benefits promised. But why is it that the sponsors of change see such poor returns on their investments?

Primary research into “why change fails” concluded that “86% of programmes underachieve because their preparation is inadequate and their delivery capability left lacking and fragmented as a result”.

 

Analysis of 1,400 change initiatives across 120 financial services firms established that the successful programmes consistently placed preparation at the heart of their work and used its outputs to drive people, process and technology changes most effectively.

 

Conversely, the programmes which prepared inadequately paid the price later, in terms of costs, unforeseen issues, lack of focus, and ultimately underachievement.

 

Thorough change preparation produces a quantifiable, positive return on investment.

 

In response to this, Rule Financial developed a change preparation methodology called Dynamic Process Management (DPM TM).  DPM was designed specifically to meet the need for a preparation-centric approach to change.

 

For more information on how Rule Financial can help you prepare and manage change, please contact us.