Territory Stories

9.1 The Board’s Strategic Directions 2016-2020 May 2016

Details:

Title

9.1 The Board’s Strategic Directions 2016-2020 May 2016

Other title

Tabled paper 1883

Collection

Tabled Papers for 12th Assembly 2012 - 2016; Tabled Papers; ParliamentNT

Date

2016-06-23

Description

Deemed

Notes

Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.

Language

English

Subject

Tabled papers

Publisher name

PowerWater

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Details/C2019C01846

Parent handle

https://hdl.handle.net/10070/269368

Citation address

https://hdl.handle.net/10070/436012

Page content

3.5 Business Transformation Program To ensure its targeted goals and outcomes are achieved, the Board has initiated a Business Transformation Program. This strategic, top-down approach, implemented in a formal, structured manner, offers the best chance for success - particularly given Power and Water's poor change implementation history. The program involves proactive measures to identify operations and governance improvement opportunities, and to attain financial sustainability. A considered approach will avoid 'knee-jerk' reactions which would bring considerable risk of limiting long-term sustainability and triggering erratic operational performance. Key to this program is the establishment of an effective Project Management Office (PMO) to act as the Business Transformation Program custodian. The PMO's first objective will be to facilitate priority projects, as identified during the external audit of the Corporation's annual financial statements for 2014-15, and to initiate additional business transformation solutions to meet the Board's goals. The PMO will be resourced primarily by Power and Water employees, the majority of whom ideally should be from operating business units. The leaders and champions of business transformation must come from within the Corporation itself. The Board recognises too that external support and expertise is important to ensure Program success. External specialists will provide additional thought leadership, coach Power and Water employees during the PMO's establishment phase, and mentor (and challenge) the Executive Leadership Team to drive successful outcomes. The Board has authorised external resourcing through to August 2016. The initial steps to be taken by the PMO are outlined below in Figure 3.1. Figure 3.1: Business transformation program: initial phase 1. Establish the PMO Timelines Existing Governance Shortfalls PMO Stream 1 May Start 2. Facilitate priority projects Existing Work Program on Audit-Critical Areas 1. Financial Systems Interfaces 2. Asset Accounting 3. Asset Management (IT) System 4. Budgeting & Forecasting Monitor and fine-tune initiatives High Priority Projects Stream 2 Progressive delivery Aug Milestone Inform design of longer term project solutions Lessons learned feedback loop 3. Select and initiate long term solutions Strategic Goals Diagnostic & Design Stream 3 (as basis from implementation of business transformation) August gateway Options for business improvement program in 2017 and 2018 Future improvement programs (all business-case driven) THE BOARD'S STRATEGIC DIRECTIONS 2016-2020 10


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