The actions taken during the first 100 days after the deal is announced can determine whether or not the desired results are achieved.
The post merger integration plan must identify actions to be taken during the first 100 days after the deal is announced. Integration activities during this time frame should be prioritized considering deal value drivers, the level of integration required and some "quick wins".
Departmental Workstream Workshops
Ideally, the post merger integration plan will be developed prior to deal closing, but from a practical matter, this process may not begin in earnest until after closing due to confidentiality or regulatory concerns. A series of joint workshops are held with functional department members of both organizations to:
- Relay the key value drivers, identified by senior management, that will determine deal success
- Determine the level of integration that can be accomplished in 100 days
- Set key milestones for tracking and controlling
- Develop milestones, plans, schedules, responsibilities, and deliverables
- Determine metrics for financial performance
- Define and sequence the phases and activities to achieve milestones
- Determine and build in dependency relationships between activities
- Estimate resources, costs, and schedule
- Identify early wins to motivate the organization and to help quiet the skeptics
PMIA Integration Checklist 500™
The PMIA Integration Checklist 500™ has been developed from involvement in a number of transactions, as well as information assembled from a variety of public sources. Of course, all of the tasks may not be applicable to a specific situation, depending on if the transaction is a stock purchase, asset purchase, private company, public company, etc.
To assure that no critical post-merger integration tasks are overlooked, our professionals will review each activity on our comprehensive checklist of over 500 tasks with the team members to assist in developing a detailed action item plan and schedule.
Action Item Report
The Action Item Report is an extension of the Integration Checklist and a straight-forward working document which identifies, by individuals, those tasks to be completed in the near-term. This Action Item Report becomes the basis for discussion at subsequent meetings as tasks are targeted and key events completed.
Milestone Summary Schedule
This is an important step in a comprehensive post merger integration plan. Without a Milestone Summary Schedule, the time available for the total integration project lifetime cannot be determined, nor can it be allocated in an optimum manner to the various phases of the project. A Milestone Summary Schedule provides a time budget - a device that is as equally important as a cost budget.
In today's market, rather than easing into the integration process, the time frame must be compressed before the synergies of the deal disappear... Speed is of the essence.