Many CEOs are familiar with the concept of a PMO (Project Management Office). Picture a multitude of spreadsheet-savvy analysts charged with tracking various initiatives through standardized processes using metrics and reports. There is value in an effective PMO, to be sure. But even as the initiatives they are working on move ahead, your organization itself remains unchanged. Work continues to happen at the same pace. Nothing structurally or fundamentally has been improved. A PMO lacks both the skill set and the authority to move that needle.
If your organization is growing at a faster rate then your industry and competitors, good for you. Rightfully, you may not want to make significant changes to your culture. However, if that isn’t the case, consider establishing a GTO (Growth Transformation Office). Structured correctly an effective GTO accelerates the operating cadence of the organization and sets in play new rules of engagement. It drives results by encouraging action, establishing accountability and removing roadblocks. In short, it hyper-charges the companies growth engine by leveraging your human capital in a way that is transformative to the culture.
A GTO does this by building a methodology that creates detailed clarity on every specific initiative, typically through a project charter. Then highlights workstreams, core objectives, key metrics, risks, dependencies and RACI models for each of those initiatives to hold specific individuals accountable for progress. To view an example of a how that may look visually, download the SBI Workstream Charter Template.
So what does “good” look like and how do you go about putting an effective GTO in place? For a detailed example click here to listen to SBI CEO, Matt Sharrers interview Jack Molloy, EVP of Worldwide Sales & Services at Motorola about how a global leader can transform a sales force of a publicly traded company.
For a cliff notes version, here are three foundational items to take into consideration:
- The GTO must have the full confidence and backing of the CEO and the board.
- The leader of the GTO must have deep, executive-level commercial experience.
- Create a compelling need for change.
Follow those guidelines and you will have build a solid foundation from which the GTO can operate. Once established, the GTO has four overarching objectives:
- Accelerate the organizational operating cadence.
- Establishes the rules and how the organization will keep score.
- Creates a single source of truth.
- Continuously reinforce the compelling need for change.
All of this may sound a bit draconian. Like you are hiring a drill seargent to whip your organization into shape. Frankly, it is meant to. Later this month SBI will release our quarterly research report related to the critical importance of execution to an organizations success. If the growth of your organization is not keeping pace with your industry or competitors, there is a significant chance its related to executional failures, not strategic ones. If that is the case, establishing an effective GTO may be exactly the right remedy to get things back on track.
Download the SBI Workstream Charter Template. This tool provides a visual of what a charter template would look like, helps frame the overall GTO concept into a few slides, and can be easily used by anyone who downloads it as a template to use for their own organization.
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