Successful post merger integrations insist on a value driver approach.
Successful post merger integrations insist on a value driver approach. The difference between integrations that succeed and those that underperform is a sustained concentration on value creation.
Given the urgency of finishing the key value driver tasks quickly, there's no room for misunderstandings. From the beginning, the PMIA methodology helps to develop clear lines of communication to coordinate team member involvement between both organizations. Responsibilities and deadlines are clarified.
A continuing communications plan makes certain that the resources are properly utilized, that schedules are maintained, and that contingency actions, if necessary, are folded seamlessly into the project plan.
Coordination Meetings - Weekly
Weekly coordination meetings attended by representatives of the Project Team are essential in maintaining the communication channels established during the schedule development. Procedures are established for obtaining information and approvals at all levels. These meetings may be in-person, via phone conference or via video conference. The emphasis throughout the project course is "communication".
Action Item Report - Update
The Action Item Report becomes the basis for much of the discussion at the Coordination meetings. As tasks are accomplished, the completion date is noted on the report. Upcoming activities are continuously added. Those items completed 30 days prior to the report date are dropped. The updated report is distributed within 24 hours of the meetings.
Set Detailed Objectives
Using the Schedules and Action Item Reports as the baseline documents, a plan is formulated stating objectives to be accomplished during the coming weeks.
Summary Report to Executive Management
All communication plans are reviewed and revised as required. A summary report in the form of a "stop light chart" is prepared to inform executive management of progress and issues.
Update Project Directory
As the Project Team members and key stakeholders change over the course of the post merger integration project, new lists containing names, titles, addresses, phone numbers, and areas of responsibility are distributed.