Governance: a tool for growth
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Governance ensures that the target is clear and an adequate infrastructure is in place to sustain continuous movement towards target state (growth).
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Governance: a tool for growth
- 1. Celebrating 20 Years of Platinum Service Governance: A Tool for Growth Seminar | GOVERNANCE: A TOOL FOR GROWTH February 28, 2018 Presenter: Alicia Perez
- 2. Celebrating 20 Years of Platinum Service Governance: A Tool for Growth Alicia Perez, BSc, CISA, CGEIT Alicia holds a B.Sc. in Computer Science from the University of the West Indies and designation for ISACA’s Certified Information Systems Auditor (CISA) and Certified in the Governance of Enterprise IT (CGEIT). Alicia has over twelve (12) years of business assurance and IS audit & assurance experience and has worked on and managed a number of major IS and business transformation projects. Introduction Symptai Consulting Limited Symptai Consulting Limited is an independent IS Audit, Security & Business Assurance firm founded in 1998. We are an industry leader in technology solutions for assurance, security, business processes, and compliance with numerous success stories and excellent client retention rates. Our services fall under three main lines of business: • Business Assurance Services • IS Audit & Assurance Services • IS Security Services
- 3. Celebrating 20 Years of Platinum Service Governance: A Tool for Growth Session Objective & Outline • Objective To understand and examine practical use cases for governance to achieve growth. Session Outline • Governance • The definition • In context • Its pillars • Governance: A Use Case for Growth • Closing • Questions & Answers
- 4. Celebrating 20 Years of Platinum Service Governance: A Tool for Growth Governance: The Definition • “Governance comprises the arrangements put in place to ensure that the intended outcomes for stakeholders are defined and achieved”. -International Framework: Good Governance in the Public Sector • “Governance is the leadership, organization structures and processes that ensures that the enterprise sustains and extends strategy and objectives. It ensures that stakeholder needs, conditions and options are evaluated to determine balanced, agreed-on enterprise objectives to be achieved; setting direction through prioritisation and decision making; and monitoring performance and compliance against agreed-on direction and objectives”. -ISACA CobiT 5
- 5. Celebrating 20 Years of Platinum Service Governance: A Tool for Growth Governance: In Context Get Raw Material Create Product/Service Market & Sell Product/Service Maintain & Grow Business
- 6. Celebrating 20 Years of Platinum Service Governance: A Tool for Growth Governance: In Context Get Raw Material Create Product/Service Market & Sell Product/Service Maintain & Grow Business What must be achieved & why? 1 Who is responsible? 2 How much risk are we willing to undertake in pursuit of the goal? What are the resource requirements? 3 How do we ensure objective realization? 4 How do we ensure transparency to optimize the decision making process? 5
- 7. Celebrating 20 Years of Platinum Service Governance: A Tool for Growth Governance: Its Pillars What must be achieved & why? 1 Who is responsible? 2 How much risk are we willing to undertake in pursuit of the goal? What are the resource requirements? 3 How do we ensure objective realization? 4 How do we ensure transparency to optimize the decision making process? 5 • ORGANIZATION CORE VALUES, PRINCIPLES & STRATEGIC IMPERATIVES • Definition of target outcomes • SMART (Specific, Measurable, Achievable, Relevant & Time based) • Adequately represents the interests of all stakeholder groups – Doing the right things • Values: Integrity, Ethics, Respecting the Rule of Law • Provides a compelling call to action that is catalyst for sometimes necessary culture and behaviour reforms
- 8. Celebrating 20 Years of Platinum Service Governance: A Tool for Growth Governance: Its Pillars What must be achieved & why? 1 Who is responsible? 2 How much risk are we willing to undertake in pursuit of the goal? What are the resource requirements? 3 How do we ensure objective realization? 4 How do we ensure transparency to optimize the decision making process? 5 • ORGANIZATION STRUCTURE ROLES & RESPONSIBILITIES Board Management Operations Operations Governance Body(ies) Protect the prosperity of the company and the interests of owners & stakeholders
- 9. Celebrating 20 Years of Platinum Service Governance: A Tool for Growth Governance: Its Pillars What must be achieved & why? 1 Who is responsible? 2 How much risk are we willing to undertake in pursuit of the goal? What are the resource requirements? 3 How do we ensure objective realization? 4 How do we ensure transparency to optimize the decision making process? 5 • ORGANIZATION STRUCTURE ROLES & RESPONSIBILITIES Board Management Operations Operations Governance Bodies Set direction and monitors for performance & conformance
- 10. Celebrating 20 Years of Platinum Service Governance: A Tool for Growth Governance: Its Pillars What must be achieved & why? 1 Who is responsible? 2 How much risk are we willing to undertake in pursuit of the goal? What are the resource requirements? 3 How do we ensure objective realization? 4 How do we ensure transparency to optimize the decision making process? 5 • ORGANIZATION STRUCTURE ROLES & RESPONSIBILITIES Board Management Operations Operations Governance Bodies Align with direction and instruct & monitor operations to meet objectives Accountability
- 11. Celebrating 20 Years of Platinum Service Governance: A Tool for Growth Governance: Its Pillars What must be achieved & why? 1 Who is responsible? 2 How much risk are we willing to undertake in pursuit of the goal? What are the resource requirements? 3 How do we ensure objective realization? 4 How do we ensure transparency to optimize the decision making process? 5 • RISK OPTIMIZATION • Definition of the optimum level of risk that must be taken to meet strategic goals • Monitoring to ensure that optimum balance is maintained • Identifying instances where approaches are too conservative • Initiatives and/or practices that expose the organization above risk tolerance levels • RESOURCE OPTIMIZATION • Ensuring the requisite capabilities are in place to support and move the organization/entity forward.
- 12. Celebrating 20 Years of Platinum Service Governance: A Tool for Growth Governance: Its Pillars What must be achieved & why? 1 Who is responsible? 2 How much risk are we willing to undertake in pursuit of the goal? What are the resource requirements? 3 How do we ensure objective realization? 4 How do we ensure transparency to optimize the decision making process? 5 • BENEFIT REALIZATION • There is a clear line of sight to how the intended benefits of an initiative will be achieved • There is clear ownership for the realization of benefits • Monitoring considers benefit pre-requisites, is credible and timely to facilitate corrective action such that objectives can be achieved • Management is held accountable for the creation of promised value (not just task execution)
- 13. Celebrating 20 Years of Platinum Service Governance: A Tool for Growth Governance: Its Pillars What must be achieved & why? 1 Who is responsible? 2 How much risk are we willing to undertake in pursuit of the goal? What are the resource requirements? 3 How do we ensure objective realization? 4 How do we ensure transparency to optimize the decision making process? 5 • TRANSPARENCY • Reporting lines are established • Communication protocol is established • Access to accurate, complete, audience appropriate information • Dashboards
- 14. Celebrating 20 Years of Platinum Service Governance: A Tool for Growth Governance: A Use Case for Growth • TYPICAL GROWTH COMPLAINTS • There is a lot of hard work; deliverables are being produced but bottom line is not being impacted & stakeholders are not happy • Projects are constantly delayed and the work load is overwhelming • We are bombarded with executive board level sponsored special audits and investigations • All the artefacts of good governance are in place (policies, strategy documents etc); targets are however consistently missed • We have great ideas but by the time we clear approval protocol, we have lost competitive advantage or relevance is threatened • GROWTH • Gradual movement towards an agreed mature / optimal state
- 15. Celebrating 20 Years of Platinum Service Governance: A Tool for Growth Governance: A Use Case for Growth • PRIMARY PROBABLY ROOT CAUSE • TYPICAL GROWTH COMPLAINTS 1. There is a lot of hard work; deliverables are being produced but bottom line is not being impacted & stakeholders are not happy 2. Projects are constantly delayed and the work load is overwhelming 3. We are bombarded with executive board level sponsored special audits and investigations 4. All the artefacts of good governance are in place (policies, strategy documents etc); targets are however consistently missed 5. We have great ideas but by the time we clear approval protocol, we have lost competitive advantage or relevance is threatened Values & Strategic Misalignment 1 Inadequate Organization Structure, Roles & Responsibilities 2 Poor Risk & Resource Management 3 Inadequate Benefit Realization Processes 4 Inadequate Transparency 5
- 16. Celebrating 20 Years of Platinum Service Governance: A Tool for Growth Governance: A Use Case for Growth • PRIMARY PROBABLY ROOT CAUSE • TYPICAL GROWTH COMPLAINTS 1. There is a lot of hard work; deliverables are being produced but bottom line is not being impacted & stakeholders are not happy 2. Projects are constantly delayed and the work load is overwhelming 3. We are bombarded with executive board level sponsored special audits and investigations 4. All the artefacts of good governance are in place (policies, strategy documents etc); targets are however consistently missed 5. We have great ideas but by the time we clear approval protocol, we have lost competitive advantage or relevance is threatened Values & Strategic Misalignment 1 Inadequate Organization Structure, Roles & Responsibilities 2 Poor Risk & Resource Management 3 Inadequate Benefit Realization Processes 4 Inadequate Transparency 5
- 17. Celebrating 20 Years of Platinum Service Governance: A Tool for Growth Governance: A Use Case for Growth • PRIMARY PROBABLY ROOT CAUSE • TYPICAL GROWTH COMPLAINTS 1. There is a lot of hard work; deliverables are being produced but bottom line is not being impacted & stakeholders are not happy 2. Projects are constantly delayed and the work load is overwhelming 3. We are bombarded with executive board level sponsored special audits and investigations 4. All the artefacts of good governance are in place (policies, strategy documents etc); targets are however consistently missed 5. We have great ideas but by the time we clear approval protocol, we have lost competitive advantage or relevance is threatened Values & Strategic Misalignment 1 Inadequate Organization Structure, Roles & Responsibilities 2 Poor Risk & Resource Management 3 Inadequate Benefit Realization Processes 4 Inadequate Transparency 5
- 18. Celebrating 20 Years of Platinum Service Governance: A Tool for Growth Governance: A Use Case for Growth • PRIMARY PROBABLY ROOT CAUSE • TYPICAL GROWTH COMPLAINTS 1. There is a lot of hard work; deliverables are being produced but bottom line is not being impacted & stakeholders are not happy 2. Projects are constantly delayed and the work load is overwhelming 3. We are bombarded with executive board level sponsored special audits and investigations 4. All the artefacts of good governance are in place (policies, strategy documents etc); targets are however consistently missed 5. We have great ideas but by the time we clear approval protocol, we have lost competitive advantage or relevance is threatened Values & Strategic Misalignment 1 Inadequate Organization Structure, Roles & Responsibilities 2 Poor Risk & Resource Management 3 Inadequate Benefit Realization Processes 4 Inadequate Transparency 5
- 19. Celebrating 20 Years of Platinum Service Governance: A Tool for Growth Governance: A Use Case for Growth • PRIMARY PROBABLY ROOT CAUSE • TYPICAL GROWTH COMPLAINTS 1. There is a lot of hard work; deliverables are being produced but bottom line is not being impacted & stakeholders are not happy 2. Projects are constantly delayed and the work load is overwhelming 3. We are bombarded with executive board level sponsored special audits and investigations 4. All the artefacts of good governance are in place (policies, strategy documents etc); targets are however consistently missed 5. We have great ideas but by the time we clear approval protocol, we have lost competitive advantage or relevance is threatened Values & Strategic Misalignment 1 Inadequate Organization Structure, Roles & Responsibilities 2 Poor Risk & Resource Management 3 Inadequate Benefit Realization Processes 4 Inadequate Transparency 5
- 20. Celebrating 20 Years of Platinum Service Governance: A Tool for Growth Closing • Governance ensures that the target is clear and an adequate infrastructure is in place to sustain continuous movement towards target state (growth). • Growth is possible without good governance but good governance creates the ecosystem for sustainable growth.
- 21. Celebrating 20 Years of Platinum Service Governance: A Tool for Growth Questions
Hinweis der Redaktion
- Let’s look at a simplified version of any business/value creating process. The process: Takes some input (whether it be deposits for lending in the financial sector or earth deposits in manufacturing or knowledge in the consulting/service industry – some input is taken) Subject to a transformation process that creates a deliverable that has some value, internally or to a third party The product/service is exchanged for something that the business considers value (in a lot of instances money; but not necessarily monetary as is the case for charities/NGOs) Inflows are used to maintain and expand operations
- Governance is concerned with consistently providing quality responses to the following questions – for any business process:
- Determination of the business need – what does prosperity mean to the business. Given the definition of prosperity provide a framework within which an infinite list of competing initiatives can be prioritized and executed to achieve corporate imperatives. It is important at this juncture that: Outcomes are SMART and representative of all stakeholder groups Companies Code of Ethics and Value System is clear (it is counter-productive to try and legislate for all possible scenarios in corporate policies and procedures) The output of the process provide a compelling
- Roles, Responsibilities, Authorities must be clearly defined to foster ownership and an efficient accountability framework. Role players must be clear on what they are responsible for and guidelines on what constitutes a quality output. The Board is usually delegated authority to act in the best interest of the owners and stakeholders
- Governing Bodies are usually instituted to provide oversight to arms of the business (steering committees, risk, audit HR etc | in smaller organizations the CEO or MD
- Management instructs operations based on the direction of provided by the governing body monitor to ensure that operational objectives are met.
- Risk – optimal risk
- This is unfortunately where a lot of organizations fall short. They have excellent strategic plans; business justification documents, project plans to ensure that tasks are completed on time and within budget but they fail to deliberately plan for the realization of business benefits outlined in the business case. For example a manufacturing firm procures new machinery to increase efficiency and thereby increase sales (as more widgets can be produced in a shorter period of time). The procurement and deployment of the new machinery is managed hawkishly – however, the requisite marketing effort to increase sales is overlooked. So at the end of the project although the firm has the capacity to generate and earn more; the anticipated sales lift is stymied as our consumers were not prepared.
- Getting the right information to the right people on time.
- Work is not aligned with the strategic imperatives Strategic imperatives are not clearly defined to ensure that it cascades seamlessly throughout the enterprise
- Initiative are no properly prioritized at the strategic level;
- Mistrust – Inadequate access to critical information Weak internal control framework
- Absence of an accountability framework Value creation is not the basis on performance management -
- Strategic planning does not adequately consider the environment changes – to adequately gauge planning for the future Authority delegation is too limited – micro-management – cannot ensure decision making velocity.
- Applicable to any scenario: Corporate Societies / NGOs Personal Goals
- Applicable to any scenario: Corporate Societies / NGOs Personal Goals