Integration and KPIs
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Is there a resource for tracking KPIs post closing and proposed items? I’m sure each deal has unique KPIs to track, however it would be helpful to have some examples to think outside the box and a proposed format for tracking the tools. It was hit on in the Integration Management and Synergies section that clearly defined KPIs should be communicated with buy in from both sides, I would love to hear more on how this is put into action.
Hi Bethany! Whereas the KPI, and therefore the method of tracking, may differ on every deal here are a few simple things that can be helpful to best guarantee positive indicators and on time implementations.
Transparency:
As you note; the plans, and associated KPI, should be communicated clearly and transparently to all. If there were assumptions made which supported the deal, and therefore must be implemented by a certain time or in a certain way, this should be clear to all. Mutual buy in on the execution of a plan (who will do what, by when, at what cost, etc) is critical to assure that goals are achieved but it should always be kept in focus that the plan itself may not be up for any debate.Segmentation of Reporting:
As there are often multiple layers of reporting during integration, segmenting the KPI for each up front can keep it clear for all and make the life of the integration team much easier – What KPI will be reported to the Strategic Committee / Board, The Leadership Committee, Department Heads, etc. Developing an approach whereas a summary of one groups KPI roll up as the report to the next level can assure accuracy, data integrity, and efficient use of time. A good implementation takes so much time and effort, reporting out on it should not – an alignment up front can really ease the burden of reportingResources:
Report on resources as part of the KPI. An integration may be guided by a specific resource, or there may be specific temporary roles created to support certain functions, but the work on the ground is often done by people within their day to day roles. Therefore keeping a focus on this point can help keep a project on track or allocate additional resources as things evolve. For example, an event may unexpectedly occur (a new project opportunity, a new customer, a force majeure at a supplier) that will quickly refocus resources to address. Shifting resources to address this event may be the best thing to do but will impact integration plans or KPI…and without reporting the reason for delay can get lost or forgotten.Classic Project Management:
Classic visual project management reporting works very well. Gantt charts and traffic lights (Red, Yellow, Green) are excellent for not only clear reporting (especially to more senior management) but are also great motivators for the team…whereas a number may simply be a number, no one wants to have to report a red dot!Just a few points but I hope they help. Good luck!
This is very helpful, thanks for your notes!
Yes, very helpful. Thank you.
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