While outcomes for large change and transformation projects are improving, much more needs to be done. A recent KPMG Project Management Survey report noted that less than 35% of organizations will deliver projects on time, on budget and with desired outcomes. Not only a troublesome forecast, it confirms what we hear from clients and executives we talk with.
At Turning Point we take a systemic approach to projects that addresses one or more of the reasons frequently cited as causes for failure. We call this the 5 Ps of change and transformation; purpose, people, process, platforms, and projects.
Taken together, the 5 Ps can assist leadership with a framework for how to successfully execute large projects. The 5 Ps are not mutually exclusive; successful large change and transformation outcomes require all 5 Ps to be addressed, and in sequence.
- Purpose - Purpose conveys the “What” and “Why”. It solicits emotional buy in and support with vision and mission for all stakeholders; employees, customers, partners, suppliers, shareholders and sometimes community. Purpose addresses the core question, what are we doing, why are we doing it and what do we hope to accomplish? Purpose clarifies the importance as well as consequences if not done well. Purpose further clarifies what the journey looks like, the specific benefits and expected outcomes once completed.
- People - People make it happen. The biggest key to success are the people involved in making it happen and those affected by it. It begins and ends with them. Soliciting their buy in and alignment to culture is critical to success.
- Process - Process is what changes and transforms. Process defines how best to operate the business. Embrace the best of what is in place, reinforce what differentiates in the market, eliminate waste and define the future state including best practice.
- Platform - Platforms are processes enabler. They are the tools that support the processes and changes necessary to realize purpose. More than just applications, platforms sit behind every process that runs the business, often designed to last for many years. ERP, CRM, Product Development, and Analytics are just some of the platforms that may be involved.
- Project – Project is how it gets executed. Governance, decision making, project management, communication, change management, and alignment from executives to the shop floor. Project encompasses the execution disciplines required to succeed.
Clarifying purpose, engaging your people, optimizing your processes, deploying the right tools and managing the execution simply works. While the 5 Ps may seem like commonsense, companies often approach change and transformation leaving one or more of the Ps out or attempt to take the Ps out of sequence. Time and again this results in poor or failed change and transformation outcomes that we believe the PMI forecast clearly highlights.
This is the 1st in our 5 Ps of Change and Transformation series. Look for future editions to break down each of the 5 Ps in detail.
Dave Brady, Turning Point President and CEO
© 2024 Turning Point Consulting
FAQs
The 5 Ps of Sustainable Success in a Consulting Business
- PREFER TO LISTEN? ...
- KEY INGREDIENT #1 – PURPOSE. ...
- KEY INGREDIENT #2 – PLANNING. ...
- KEY INGREDIENT #3 – PERSEVERANCE. ...
- KEY INGREDIENTS #4 AND #5 – POSITIONING & PRICING.
We call this the 5 Ps of change and transformation; purpose, people, process, platforms, and projects. Taken together, the 5 Ps can assist leadership with a framework for how to successfully execute large projects.
What are the 5 stages of transformation Mckinsey? ›
The answer is to follow a structured process that we characterize as the “5As”: aspire, assess, architect, act, and advance. For each of these stages there are clear frameworks for performance and health that enable leaders to manage both with the same rigor and discipline (Exhibit 2).
What are the 5 Ps of organization? ›
The Five Ps of an organization are Purpose, Philosophy, Priorities, Practices, and Projections. To clarify, this structure of organizational attributes offers a unique way to understand an organization.
What are the 5 C's consulting framework? ›
What is the 5C Analysis? 5C Analysis is a marketing framework to analyze the environment in which a company operates. It can provide insight into the key drivers of success, as well as the risk exposure to various environmental factors. The 5Cs are Company, Collaborators, Customers, Competitors, and Context.
What are the 5 C's of consultation? ›
The five Cs consultation model: contact, communication, core question, collaboration, and closing the loop series was developed and studied which did show improvement in the consultation skills of physicians [2][3] [4] .
What are the 5 pillars of change management? ›
- Pillar #1: Start by Looking Inward. The first pillar of change management is continuous assessment. ...
- Pillar #2: Build Executive Buy-In. ...
- Pillar #3: Make It a Team Effort. ...
- Pillar #4: Developing the Plan. ...
- Pillar #5: Delivering the Goods. ...
- Wash, Rinse, Repeat.
Change management goes beyond just implementing new strategies; it requires a deep understanding of the human side of change. The 5 C's – communication, commitment, culture, capability, and coordination – are vital in leading teams through transition periods.
What are the 5 E's of change management? ›
These leaders would use, what I call the the 5 Es – Explain, Excite, Enlist, Enable or Enjoin – in an appropriate mix in their approaches.
What are the 5 stages of transformational change? ›
- The Stages of Change. The stages of change are:
- Stage One: Precontemplation. ...
- Stage Two: Contemplation. ...
- Stage Three: Preparation/Determination. ...
- Stage Four: Action/Willpower. ...
- Stage Five: Maintenance. ...
- Techniques to help you progress through your change plan.
Transformation journeys typically follow five distinct phases: envision, explore, prepare, execute, and accelerate. If conducted thoroughly, whereby all relevant aspects are considered and integrated in each step of the journey, following these phases will minimize your risk of failure.
What is the McKinsey 3 rule? ›
McKinsey Consulting
The Rule of 3 is a rule of thumb for executive communication. Whenever you're trying to persuade a senior person to do something, always present 3 reasons. Not 2, not 4, but exactly 3.
What is the 5 P's approach? ›
So, what are the 5 P's? They stand for Plan, Ploy, Pattern, Position, and Perspective.
What are the strategic 5 Ps? ›
Mintzberg's 5 Ps of Strategy include Plan, Ploy, Pattern, Position, and Perspective. Plan refers to a deliberate course of action that outlines the steps necessary to achieve a specific goal. Ploy refers to a maneuver or tactic used to gain an advantage over competitors.
What is the 5 Ps process? ›
The 5P Approach presents a comprehensive systematic framework for project management, empowering managers to devise strategies that facilitate value creation. Emphasizing the facets of planning, process, people, possessions, and profits allows entities to fulfill their objectives with efficacy and proficiency.
What are the 5 phases of performance consulting? ›
The 5 Phases of Performance Consulting
Training Industry has identified five phases of performance consulting, which create a continuous cycle of activity: contracting, analysis, recommendations and agreements, implementation, and assessing results.
What does the 5 P's stand for? ›
The 5 P's of marketing – Product, Price, Promotion, Place, and People – are a framework that helps guide marketing strategies and keep marketers focused on the right things.
