a high level, Engage Talent is focused on our employees and Diversify is client-focused, with Grow being a combination of both. The development of Strategic Goals and tiered Initiatives further supports the critical needs of each stakeholder group. Figure 2.1-3 IPM 2018/2019 Strategic Objectives and Goals (Figure 2.1-3 contains business sensitive data and has been redacted.) 2.2 Strategy Implementation 2.2a Action Plan Development and Deployment 2.2a(1) Action Plans Our short-term and longer-term action plans—our Tier 1 and 2 Initiatives—can be found in Figure 2.1-3 . ( Figure 2.1-3 contains business sensitive data and has been redacted.) (The roster of Tier 3 action plans is AOS.) Initiatives are developed during the Decide step to address our Strategic Goals and Objectives using the PDCA process depicted in Figure 2.2-1 . A lesson learned from the previous BPP was that all action plans were treated with equal priority resulting in longer-than- necessary durations for the most crucial Initiatives. To address this issue, tiering was incorporated into the 2018–2019 BPP with the highest priority Initiatives assigned to Tier 1. The new process focuses both resources and oversight on the key action plans—those that will have the greatest impact on the Objectives and are the most critical to the business—to generate shorter timelines and better outcomes. 2.2a(2) Action Plan Implementation Once the action plans are identified and prioritized, the ET begins their deployment by assigning Single Point Accountable (SPA) owners for each Initiative. The SPAs are ultimately responsible for identifying the necessary elements (scope, schedule, resources, success criteria, and metrics) to achieve successful completion of the Initiatives. Initiatives are presented to the entire workforce during the Annual Plan meeting, after which SPAs recruit team members from across the organization based on needs and skills. Participation on an Initiative is a factor in each employee’s bonus determination as part of the “Building the Foundation” criterion. Once the SPAs have identified the important elements of the action plans, IPM then utilizes our core competency of project leadership to execute them as projects and ensure our Objectives are achieved. To ensure sustainment of action plan results, upon completion the SPA completes a Final Project Summary, a document that includes a summary of the work completed, a list of deliverables created, conclusions from the SPA, and recommendations for the business. All projects adhere to the stage gate process summarized in Figure 2.2-2 . The more detailed stage gate process is available AOS.
Figure 2.2-1 Action Plan Development Process
Approve and prioritize Identify team members
Finalize charter Create plan
Develop deliverables Report status
Implement solution Measure success
Figure 2.2-2 Stage Gate Process Following a 2016 cycle of improvement, the stage gate process was updated to include more stringent requirements for defining, executing, monitoring, and reporting progress as well as a set of standardized tools and templates. 2.2a(3) Resource Allocation Resources are allocated during the annual budgeting process conducted in the Decide step of the BPP to ensure the necessary financial and workforce resources are available to support the achievement of our action plans while meeting current operational obligations. The budget is developed by senior leadership and based on revenue and expense projections that incorporate the results of their bottom-up gap analysis. Beginning in 2017 and based on a cycle of improvement, functional departments now complete a workload analysis worksheet to complete their gap assessments and advise the ET. This gap analysis identifies both the capabilities and cross-functional resources needed to implement the new Strategic Plan and associated tiered Initiatives (Tiers 1, 2, and 3). The tiering drives the resourcing decisions by the ET regarding whether to add Operations or Corporate positions. Once the budget is approved by the ET, the resources are allocated based on functional needs with Tier 1 Initiatives receiving priority. This ensures the assignment and commitment of critical resources necessary to complete key action plans. IPM manages risks associated with the Initiatives to ensure financial viability by conducting a risk assessment on the budget during the budget planning process. A computerized risk tool using Monte Carlo analysis is used to determine the confidence level of the pending budget. Approved budgets have a 95% confidence factor for meeting the budget based on the simulations conducted. Additionally, the SRPM monitors resourcing risks associated with each action plan and elevates concerns to the ET at quarterly review meetings. Other measures to mitigate risk
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