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Accretive Solutions Northstar Initiative Assessment Software Overview
- 1. Datasheet NorthStar Initiative Assessment Know the fate of your projects before and during the initiative. Does every one of your projects come in on time and within budget? Statistics show that of your next ten projects, seven will miss their original expectations (time, cost and value). That’s a sobering fact; but by using a ground-breaking software-based service, Accretive Solutions can help to substantially reduce the uncertainty from your initiatives and transform risk into value opportunities. In fact, research shows that initiatives not utilizing our service miss their goals by a wide margin. They exceed their deadline by 210-370%, and budget by 180-320%. NorthStar is an Accretive Solutions proprietary software-based solution that will accurately predict your future performance, help you better understand your current course and develop a transformational road map. After just a few days of collaborative analysis with key stakeholders, we will define actions that are designed to change your trajectory and achieve industry Best-inClass levels of performance. You’ll know what has to be done, how to do it, and how to measure its performance. Use technology to achieve higher levels of success and minimize initiative failure Increasing knowledge will decrease risk. Traditional initiative assessments do not include most metrics critical to project success. With NorthStar, it’s possible to accurately predict with a 90% confidence rate, the outcome for each phase of your project. An assessment from Accretive Solutions will provide answers to these critical questions: < How well positioned are you to achieve your goal? < Are you going to achieve your proposed Internal Rate of Return (IRR) or Return on Investment (ROI)? < Will you create minimal disruption or cause considerable damage to the organization? < Will your initiative add revenue to the top line, reduce costs, or improve your balance sheet? The value is in the accomplishments Our software-based assessment solution combined with smart integration of knowledge identifies predictive intelligence and prescriptive actions, accomplishing: < < < < < < < < Project cost predicted with 90+% accuracy Project duration predicted with 90+% accuracy Alterations to current course and speed that reduce time and budget overruns Maximization of project ROI Increased value from the process, system and knowledge improvements (on average, improves implementation value by 17-43%) Identification of knowledge and experience gaps Increased rate of success – stakeholder commitment from the collaborative approach Shortened decision cycle – process is rapid with minimal intrusion to the organization www.accretivesolutions.com Converting Risk to Economic Value Working closely with your project stakeholders, we perform a fundamental analysis of the factors of risk: knowledge, experience, performance and value. We then utilize risk as an asset by converting it to economic value. Risk Factor Analysis - Areas of Focus < Knowledge, Experience and Performance (KEP™) of the required resources < Knowledge of required functionality < Knowledge of the technology and operating environment < The value propositions to be achieved < Planning and control/risk mitigation process < Enterprise and executive support < Enterprise/user knowledge < Management of the initiative < Quality program © Copyright 2007-2013 Accretive Solutions. All rights reserved.
- 2. The Accretive Solutions NorthStar software-based initiative assessment is repeatable, consistent and measurable. It identifies risk and value opportunities that translate into a prescription for action, increased rate of success, shortened decision cycle and overall earlier conversion of risk to economic value. For more information regarding how Accretive Solutions can assist your company with Initiative Assessment services, please contact your local Accretive Solutions representative. Sample Engagements A leading Business Conglomerate in the areas of road construction, asphalt manufacturing and precious metal reclamation was deploying an Enterprise Resource Planning (ERP) system across its four operating units, which were engaged in disparate lines of business. Two of the operating units had a version of an ERP system installed, but it was outdated and could not interface with the other operating units. The project was currently behind schedule and over budget. Most of the project team was not on board when the ERP technical solution had been selected and many of them were questioning whether the technology was the correct choice. The bigger issue appeared to be the management process and a lack of communication within the company. An assessment by NorthStar classified the project as High Risk compared to Best-in-Class benchmark companies in the NorthStar database. We then identified the issues that contributed most significantly to the high risk and ranked them in order of importance based on the weighting factors in the software. A series of risk mitigation activities were designed and committed to, and a series of workshops were established. Four months later, we conducted a checkpoint assessment. There was a significant increase in the ownership of the project across the organization. The project had a dramatically reduced risk level; it was back on schedule and closer to budget. Significant and dramatic improvements were accomplished across all metrics: • The risk of value achievement was reduced 51% • The implementation value was increased by 29% • The company was able to begin the knowledge transfer from the outside consultants to the company employees on the project, resulting in an additional expense reduction opportunity of $4 million. • The company had improved their KEP™ (Knowledge, Experience and Performance) significantly (almost doubling) within the IT function as well as the business unit leadership group (39%). www.accretivesolutions.com A leading, $60+ billion, consumer products company with three operating units was implementing a global product data management system that would contain all of the product and packaging specifications for all products sold and distributed (over 20,000 users and over 120 locations to be supported). The in-house IT organization was asked to co-manage the project. Our assessment was to identify and manage the overall risks and value opportunities of the project. An assessment by NorthStar classified the project as High Risk compared to Best-in-Class benchmark companies in the NorthStar database. We then identified the issues that contributed most significantly to the high risk and ranked them in order of importance based on the weighting factors in the software. A series of risk mitigation activities were designed and committed to, and a series of workshops were established. Ninety days later, NorthStar conducted a checkpoint assessment. The project risk level had been reduced dramatically. The risk mitigation activities had resulted in the project being on schedule and a realistic budget defined. The results showed significant and dramatic results across all metrics: • Identification of the root cause of issues had identified expenditure reductions of 22% • The plan and delivery time for the project was reduced by 32% • Decision cycles had been significantly reduced • The implementation value was increased by 21% • The company had improved their KEP™ (Knowledge, Experience and Performance) significantly (doubling) within the IT function as well as the business unit leadership group (41%). © Copyright 2007-2013 Accretive Solutions. All rights reserved.