You don’t start any project knowing exactly how things are going to go. It is impossible to rigorously plan a transformation project and expect to be able to stick to it. 

The G.A.M.E P.L.A.N change management framework factors this in through step ‘L’: learn as you go. Ensuring the project team develops the right mindset is a key focus when it comes to delivering successful transformation programmes. 

Unlike month-end forecasting, budgeting, business planning and other financial processes – all of which are well rehearsed and repeatable – a transformation programme is built on assumptions and aspirations. This will inevitably need to be reassessed and adjusted as the programme develops. 

Your initial plan for your transformation programme – with its scope, risks, costs and benefits – is basically version 1.0. You should not expect that version to be the one you actually deliver. As more information is uncovered and you gain insights about the reality and challenges of the project, it will become necessary to make some changes and create new versions of the programme.

To paraphrase singer Jimmy Dean, while you can’t change the direction of the wind, you can adjust your sails. To run a successful transformation project, you need to keep an open mind and be willing to question the pathways you are navigating. You may need to flex your schedule, milestones or timelines, but you should always have a fixed eye on your destination (i.e. the desired future state and benefits).

The role of the PMO and Transformation Programme Board

The Programme Management Office’s (PMO’s) role is to operationally manage scope, schedule, risk and cost and benefits. The size of the PMO will vary by the magnitude of the transformation. In a small or medium-sized enterprise this might be one person. 

The PMO will take care of most day-to-day challenges and issues, but occasionally there will be a need to escalate to the Transformation Programme Board.

The Programme Board is there to ensure that the agreed business outcomes of the programme are delivered and to help the PMO overcome significant barriers to delivery. 

It can also provide flexibility to the programme through the change control and benefits management process. 

Developing a transformation mindset

To be able to deliver on a transformation project or programme, you need to develop the right frame of mind. You need to get comfortable with failure and how to deal with it. Ask yourself:

• How do I tend to deal with failure?
• How can I fail fast and move on?

It’s important to determine this upfront – you need to accept that you might get more things wrong than right in the early phases of the programme. This is a big shift from the typical mindset of the average finance function, where information is concrete and processes are set. With a programme, you will likely begin with a lot of assumptions and over time these will be replaced by facts. So essentially, you need to get started. You cannot wait for more certainty; you aren’t going to get it. 

"Perfection is the enemy of progress" is a popular quote attributed to Winston Churchill. It means that striving for flawless execution can hinder or prevent forward movement and completion of a task. The idea is that a relentless pursuit of perfection can lead to analysis paralysis, delaying or even halting progress on a project.

As is the case when developing any new skill or capability, learning the core skills and mindsets required of transformation programmes may seem a little painful and awkward at first. They can fall outside the usual comfort zone of accountants. However, this will become easier over time. Be prepared to accept that you might get things wrong. 

Executive sponsorship is critical 

In order for a transformation team of individuals to operate, it is critical that the executive sponsorship team have their backs. 

This does not mean that whatever a transformation person does must be backed up. It means that there is a responsibility on the PMO to stay aligned with the respective executive sponsors (often the CFO and CEO) on key challenges and relevant approaches, in order to deal with such barriers to delivery.

The accountability of the transformation delivery then sits with the executive sponsors, who need to provide leadership in the wider organisation as well as vocal and visible support.