Author: Jim Wright | Project Manager
In light of the fiscally restrained environment facing many public, non-governmental and private organizations, alike, ensuring that resources are effectively and strategically allocated has taken on premium importance. Organizations are faced with an array of complex decisions and tradeoffs in determining how to reduce spending while ensuring that program and capital resources are allocated in a practical manner that fully supports mission delivery. Evans has a unique and unbiased framework that includes a suite of instruments and tools to assist our clients to weigh resource allocation alternatives through the prism of risk mitigation, alignment to strategy and the potential for realizing targeted outcomes in a cost effective manner.
Evans Incorporated is the trusted advisor to senior leaders in government agencies and international financial institutions that are charged with accomplishing the missions of large, critical programs in their organizations. Our approach to strategic resource allocation assists our clients to ask the following questions: “Are we doing the right things?” “Are we doing them the right way?” “Are we doing them well?” and “Are we getting the benefits?” Whether assessing how best to allocate program funding or capital budget envelopes, these four questions provide a structured and objective framework to assess the keys for successful investment outcomes, while permitting comparable measurement of the answers to these questions across various initiatives and at all levels of an organization.
The questions fall within two domains: the Business Domain and the Solution Domain. The Business domain accounts for the strategic focus of the business leadership and is guided by the concepts of Earned Value Management using the benefits realization approach. The Solutions domain covers the practices of program management and project management to address the ability to get the work done in a manner that balances schedule, budget, and the delivery of business and technical capabilities.
The four questions provide a rich framework for assessing value across four quadrants that span the business and solution domains. To be truly useful in the benefits realization assessment process, one must drive these questions down to a greater level of detail and incorporate them into measurement instruments that are practical, easy to apply and allow some degree of consistent – and therefore comparable – measurement focus. The basic definitions of the four quadrants, and the previously identified questions they aim to address, follow below:
Business Alignment – This quadrant of the business domain aims to answer, “Are we doing the right things?”, and defines business strategy and goals, assesses business direction and the extent to which investment alternatives align to the strategic priorities of the organization.
Design & Integration – This quadrant of the solution domain aims to answer, “Are we doing them the right way?”, and addresses organizational structure and processes, and the potential ease of integration of programs within that structure and existing processes.
Solution Delivery – This area of the solution domain asks, “Are we doing them well?”, and assesses organizational capability, the resources available, and the supporting infrastructure required to get work done efficiently.
Benefits Realization – This final area of the business domain asks “Are we getting the benefits?” by addressing the proactive management of the benefits realization process throughout the budgeting lifecycle from inception to implementation.
We offer two instruments – the Value at Risk Analysis (VARA) and the Results Network – that provide a more comprehensive and wide-ranging lens for assessing the appropriateness of program investment alternatives across the domains and quadrants outlined above.
Benefits of Leveraging VARA and Results Network Instruments
- An unbiased framework for evaluating alternatives and resource allocation tradeoffs
- Institutionalization of a full risk management lifecycle as it relates to budgeting, not only focusing on avoiding risk through effective budget execution, but also placing a premium on reducing organizational risk through effective resource allocation.
- A dynamic instrument that can be tailored and recalibrated over time as strategic priorities shift and risk conditions change.
- A rapid, easily tailored, collaborative and transparent approach for strategically aligning resources in a manner that meets the unique needs and priorities of any organization.
- Full line of site between discrete resource initiatives and improved probability for realization of business and financial outcomes.
- Robust migration planning tools that elicit the interdependencies, sequencing and temporal relationships between discrete investment initiatives.
We invite you to learn more about our Strategic Resource Allocation service offering, and the framework, instruments and tools we employ to assist our clients to successfully deliver their missions in a cost effective, strategically aligned and risk adverse manner.
Please explore our website to learn more about how we can assistyour organization in the strategic allocation of resources and discover why more than 9 out of10 clients engage us for repeat business.We invite you to also learn more about our Strategic Resource Allocation service offeringpartners, Dekstrus Incorporated and BarnardHoward LLC, at the following links:www.dekstrus.com and barnardhoward.com.