A Center of Excellence (CoE), sometimes referred to as a “competency or capability center”, is typically a small team within an organization working cross-functionally to build on the organizations past experiences to avoid reinventing the wheel after each project. A few ways the CoE accomplishes this is by:
- Providing leadership
- Best practice knowledge share
- Offering support/training
Basically, the CoE is invested in the organizations overall success and will focus time and resources to specific areas or practices critical to the organizations overall success. The CoE should create value through supporting continuous improvement and eliminating waste.
Jim Miller, an IBM Certified Advanced Solution Expert and lead for Perficient’s national financial performance management practice, recently wrote a white paper on the five guiding principles of a successful CoE. Jim’s five principles that will provide direction and focus for the CoE are:
- Define and Develop
- Examine and Exploit
- Measure and Market
- Govern and Guide
- Stabilize and Support
To learn more about the five guiding principles of a successful CoE, download the white paper here.