1. Prozessmanagement bei
komplexen Großvorhaben
Schmalenbach-Tagung M&A 2012
Kai Lucks
Protection notice / Copyright notice

2. Komplexität ist…
…Vielschichtigkeit (lexikalische Definition)
…Einzigartigkeit
…Eine neue Herausforderung
…Für jedes Unternehmen anders gelagert
August 2012 Prof. Dr.-Ing. Kai Lucks 2

3. Erfolgsquoten
77 50 66 53 31 % Fehlerquote
McKinsey Mercer Booz-Allen KPMG KPMG
(1987) (1995) (1998) (1999) (2001)
• M&A ist eine große Herausforderung
• Professionalisierung verspricht große Verbesserungen
August 2012 Prof. Dr.-Ing. Kai Lucks 3

4. Es gibt grundlegende Treiber von Komplexität:
Restructuring Degree Simple Size
Relocations, Sales Volumes,
Closings Employees
Complexity of Case
Locations,
Countries
August 2012 Prof. Dr.-Ing. Kai Lucks 4

5. Experience Management: Project Challenge Drivers
Sales Vol. own unit
Cultural 1
Sales Vol.
Change 12 2
11 candidate
Locations
11 Volume Employees
Reduction 3
11 own
Restructuring
Manufacturin
Employees
g 10 4 candidate
11
heads
reduction
Improve- 9
ment Complexity
5 Countries
8
6
Value Chain 7 Locations
Businesses
Prof. Dr.-Ing. Kai Lucks

6. Experience Management
Osram - Sylvania PG – Westinghouse SV – Huntsville
Restructuring Volume Restructuring Volume Restructuring Volume
Complexity Complexity Complexity
Lamp consumer products Power gen systems Automotive components
Combined sales 1.5 b. € Combined sales 7 b. € Combined sales 4.6 b. €
Combined employees 27,900 Combined employees 18,500 Combined employees 21,700
EBIT improvement goal 188 m. € EBIT improvement goal 1.3 b. US$ EBIT improvement goal 140 m. €
Factory transfer 8 Factory transfer 4 Factory transfer none
1994... 1999… 2004…
Prof. Dr.-Ing. Kai Lucks

7. Westinghouse: Huge Efforts to Ensure Success
300
250
Team
200
Capacity
150 (Fulltime
100 Heads)
50
0
(since 1992:)
Pre Analysis Product Post Closing Integration
Internal Team „Washington“ Spectrum
Teams
Joint Exploratory Manu-
facturing Change Management Teams
Negotiations Implementation Support Team
Antitrust
Filing
1995 1996 1997 1998 1999 2000
Signing 11/97 Closing 10/98
Prof. Dr.-Ing. Kai Lucks

8. Die Komplexität ist je nach Projekt-Typ unterschiedlich
Siemens Definition:
Interlocking 2 Projects
Integrated
Acquisition-
Acquisitio Restructure
Reengineering
n
Ko
closing closing
m
pl
ex Meiste Private Equity:
itä
t
Stand alone Reengineering
Acquisition
only
Restructure
closing closing
Overlap: Complementarity:
Cost Cutting Technology
August 2012 Prof. Dr.-Ing. Kai Lucks 8

9. Siemens hat für komplexe Projekte ein Referenzprojekt-
modell entwickelt, auf der Basis eines Prozess-
Ansatzes
Strategy Check Strategy Review Strategic Controlling
Strategy Cand. + Path Screening
Business Case Business Plan
Core Processes
Exploration Due Diligence Antitrust Prep. Antitrust Proced. Due Diligence 2 Financial Acquisition Controlling
Deal-
Vendor Due Dil) Deal Structure.
making
Negotiation + Contracts Closing preparat. Post Closing Contract Mangement
Carve Out (1) Integration Concept Integration Preparation Organization. + Processes
Structure Levers Measures Program.
& Change
Change Program.
Readiness Plan 100-D-Implem. 1-Year-Implem. Cont. Improvem.
Support Processes
Information
Communication
Valuation
Controlling
Start Negot. Invest. Signing Closing 100 Days 1 Year
Appl. Appl.
August 2012 Prof. Dr.-Ing. Kai Lucks 9

10. Die Wissens-Elemente für M&A-Projektführung hat
Siemens auf dem Intranet hinterlegt
August 2012 Prof. Dr.-Ing. Kai Lucks 10

11. M&A-Wissensmanagement wird bei Siemens durch
einen geschlossenen Lern-Kreislauf betrieben
Preparatory Transaction Implementation
Project Approval Approval Sign- Clos- 90 1
Business Management
Start 1 2 ing ing Days Year
Strategic Planning
Business Case
Deal Contract Management
Integration Preparation Implementation & Controlling
Know-How Transfer (CoC M&A Integration)
Erfahrungsmanagement ist der Schlüssel für den Erfolg
August 2012 Prof. Dr.-Ing. Kai Lucks 11

12. Bei hoch-komplexen M&A-Projekten wird das Design
weitgehend durch die spezielle Aufgabe bestimmt
Beispiel Projekt Alstom Industriekraftwerke: 4 Stufen, 2 Sorten von Teams
Phase I Phase II
Step 1: Step 2: Step 3: Step 4:
From strategic logic From clear integration From intelligent mea- From prerequisites
to clear integration targets to intelligent sures to implementa- to implementation
targets measures tion prerequisites
"Goals" "Potentials" "Commitments" "Achievements"
Functional teams Transition depending on
• Team tasks
• Team scope
• Cross-functional
coordination requirements Subdivisional teams
August 2012 Prof. Dr.-Ing. Kai Lucks 12

13. Beispiel: Matrix-Aufbau beim Projekt Siemens Alstom
Industriekraftwerke
Steering committee
(Voges, Kley, Lucks, Stieler, Behrens)
Closing team
Integration Office
(Bopp, Brückner) Integration management ...
... (Balling) CD S2 - Alex
PGI management team (= Sponsors)
Team Team Team Team Team Team
Steam Gas Com- Oil & Power Service
Turbines Turbines pressors Gas Plants
Sponsor Team Supply Management Hartwig
Sponsor Team Manufacturing Butz
Sponsor Team International Sales Network Ehrenberg / Stahl
Sponsor Team Service Network Tiefenbach
Sponsor Team R&D/Technology Southall
Sponsor Team Accounting/Controlling Biendarra
Sponsor Team IT Reinecke
Functional
Sponsor Team HR teams
Peyton-Jones
Subdivisional
Sponsor Team Communications Schütz (GZ-)teams
August 2012 Prof. Dr.-Ing. Kai Lucks 13

14. Die Komplexität nimmt mit fortschreitendem Prozess
grundsätzlich zu
Steering Project
Owner Project Project
Committee Steering Committee Owner Steering Committee Owner
Project
Manager Integration
Team-Leader
Manager
Strat /Struct Exploration Legal, Tax &
Team Team Antitrust Strat / Struct Due Diligence Strat /Struct Post Closing Human
Tax Team Project Office
Team Team Team Contracts Resources
Value
Negotiation Valuation Information Communication Change
Legal Team Management
Team Team Team Team Team
Team
Antitrust Intellectual Tax Business 1 Business 2 Business 3 Business 4
Team Property Team
Human Information Real
Compliance Reporting Cotrolling
Resources Technology Estate
Integration
Information Marketing
Preparation Manufacturing Purchasing Manufacturing Service
Technology & Sales
Team
Location 1 Location 2 Country A Country B
Capa-
cities
Start
Time
Negot.Appl. Invest.Appl. Signing Closing 100 Days 1 Year
August 2012 Prof. Dr.-Ing. Kai Lucks 14

15. Komplexe Projekte werden bei Siemens durch ein
umfangreicheres Projektbüro gesteuert
Das Project Office am Beispiel VA Tech wurde schon vor dem Closing
aufgesetzt
Overall Integration Office
Project Change Readiness for Base lining, Integration
Modules 1 steering and 2 management and 3 4 target setting, 5
Day One in RCs
administration communication impact controlling
E.g.: E.g.: E.g.: E.g.: E.g.:
• Monitoring of • Communication • Checklists and • Request • Methodology
project progress time schedule framework for coordination support for RCs
• Coordination of • Regular sound readiness issues • Target setting • Support of
Tasks meetings checks • Consolidated methodology selected RCs
• Preparation of • … readiness cockpit •… •…
Steering •…
Committees
•…
August 2012 Prof. Dr.-Ing. Kai Lucks 15

16. Auch kleinere Projekte können komplexe
Herausforderungen darstellen:
Beispiel: Hybridmodell bestehend aus Projektstufen und durchgängigen Prozessen
Due
Strategy Path Explo- Busin. Con- Integr 100 One
Dili-
Check Screen ration Case tracts Prep. Days. Year
gence
1 Legal Process
2 Information Process
3 Measures Planning Process
4 Valuation Process
5 Communication & Change Process
6 Controlling Process
Negotiation Readiness at
Permission Closing
Prof. Dr.-Ing. Kai Lucks

17. Summary – Zusammenfassung
1. Structure follows Strategy: jedes Unternehmen muss das für
seine spezielle Situation zugeschnittene M&A-Führungssystem
entwickeln
2. Je höher die M&A-Frequenz desto stärker wirken sich
Erfahrungseffekte bei Projekten aus
3. Kleinere Projekte haben tendenziell ein höheres
Standardisierungspotenzial
4. Auf der Ebene der Einzelprozesse ist das
Standardisierungspotenzial groß – deshalb lohnt es sich, Prozesse
zu definieren und zu standardisieren
Prof. Dr.-Ing. Kai Lucks

18. Complex M&A Projects Can Become Successful
– Even in Heavy Weathers
Prof. Dr.-Ing. Kai Lucks