This blog series explores how change management can and should pay for your next project. Previously, I discussed how OCM paid for an ERP implementation. In this final post we look at three ways to accelerate value in transformation.
- Explicitly tie change management to business value (e.g., include business case analyses)
- Use change management to accelerate value realization by changing behavior early in the transformation
- Ultimately, business transformations succeed or fail based on how well the project can address needed behavior changes; therefore, change management should focus on changing behaviors
The success factors of a business transformation initiative may be easy to understand conceptually, but they are difficult to execute and track. Leaders may have to resort to different ways of motivating behavior changes depending on the organization, and different ways of monitoring performance depending on the project. In addition, the places where value can be captured most quickly can vary, even between two seemingly similar projects.
The complexities of business transformation and their 30%-35% failure rate, have companies concerned about starting on their next big initiative. And for good reason. However, it is time to incorporate change management to realize value, accelerate value, and even pay for transformation.
For more insight on how OCM can (and should) pay for your next project, download our guide here or below.