Over the last 18 years, I've been fortunate to have worked with a range of companies, from large multi-nationals, UK PLCs through to high growth startup / scale-ups. One thing that has remained consistent during this time is that the obvious isn't always obvious.
Technology and resilience have become an even more important factor in enabling business (and employee) performance whilst also reducing risk. In light of Covid-19, its critical that investments deliver tangible value.
I've outlined five steps to improving returns on investment (ROI) in technology and resilience. No doubt, these steps may seem obvious and perhaps too high level to make a difference.
Maybe this is true but take 5 minutes to look at each of these steps using the lens of your project, operational, delivery teams - would they say that these steps are understood and followed consistently? A small tweak in your approach could have a significant impact on ROI.
1. Set clear, measurable objectives on what you are trying to achieve
It makes things so much easier when you and your team know what you are doing, why its important and the role that they are expected to play.
2. Identify the 'things that could go wrong'
Why? This is risk management at its core. Identifying things that could go wrong and assessing which could have the greatest impact.
How many times have you looked back and wished you had spotted a potential issue sooner? Identifying the plausible events and things which could go wrong is a great place to start.
3. Prioritise the things that matter most and take 'massive' action
Sounds sensible? How many times do you take on projects which are lengthy and uncertain in their outcome? Start by focusing on the items that really matter and drive your team to deliver with laser focus. Break down large tasks into smaller items allowing you to deliver incremental value, whilst also identifying any required changes in your approach.
4. Learn quickly from your mistakes
Something not working as intended? Great – you have identified it, now fix it! Put in place formal lessons learnt sessions with your teams to understand what has worked, what has not and what needs to change. Don’t let things drag – drive action to improve for future cycles.
5. Allow communication and collaboration to take centre stage
Keep things simple and avoid jargon. There is a strong correlation between how you communicate and the results you and your teams achieve.
Focus on clear transparent communication so that your team remain engaged, motivated and driven to succeed.