Most organizations focus on individual change efforts without a holistic overarching approach study foundPress release October 10, 2018 Change management Project
Most surveyed organizations do not have practices to manage change across multiple initiatives though most are rolling out multiple changes concurrently
Today, change capacity and analytics tool provider The Change Compass released the first of its kind study on organizational change practices. The benchmarking study found that despite a significant focus on managing change across industries, most organizations still restrict their change focus at a project by project level.
Euan Wu, Director of The Change Compass commented that “Most large organizations are investing in change and transformation to stay relevant and competitive. The change management profession has grown significantly as a result. However, most organizations have focused their investment at a project level by hiring project change practitioners. The opportunity now is to be able to adopt portfolio based practices to manage change across multiple initiatives.”
Organizations across industries are experiencing change more rapidly than ever due to technology and other competitive pressures. Most organizations are implementing multiple change initiatives. However, the change practices of most organizations have not developed beyond a project level focus. For example, only 20% of surveyed organizations conduct regular change portfolio planning exercises.
One multinational commented that “Change portfolio management depends a lot on the culture & maturity of where the organization is present. The geographical maturity has a huge Impact on the success & failure of the overall portfolio change management”.
Another organization commented that “We struggle with mainstream portfolio management and so understanding the concept of change portfolio management is a struggle. Also, we do not yet have any formal change management practitioners”.
To access the report subscribe to The Change Compass here.
The Change Compass helps organizations undergoing multiple changes create one integrated view of change impacts. With this, organizations can make real-time, fact-based decisions to maximize the success of change initiatives. It is a digital, cloud-based tool and also a set of best practices in managing a portfolio of changes through data. This includes change governance, operating cadence, data visualization, planning and insight generation.
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