Following the development of a comprehensive 3-year strategic roadmap for a leading insurer, Stax was re-engaged to facilitate & manage the execution of the key strategic initiatives.
The proposed roadmap involved transforming the organization into a purpose-driven, insights based, digitally enabled, partner focused entity, while re-organizing the operating structure & driving a mindset shift on risk management.
We set up a project management office (PMO) with mini teams to focus on each objective and a guidebook was created explaining each step for these initiatives along with KPI’s.
The PMO created a detailed balanced scorecard showcasing how each strategic objective trickles down to activities and sub activities to be performed by different stakeholders and introduced a cloud-based project management tool to monitor and track these activities.
The PMO installed a comprehensive governance mechanism while conducting periodic meetings to update stakeholders on progress and resolve implementation issues.
The PMO also introduced a project management tool in order automate the tracking and monitoring process, while creating board-level implementation dashboards.
Quality assurance programme on completed activities against predetermined achievements and change management initiatives were conducted for hassle free execution.
The client achieved a successful execution, hassle free implementation, and on time delivery of the key objectives set.
Through the PMO, the client transformed their organization into a Purpose driven one, streamlined internal processes through business automation, enhanced decision making through data mining, & leveraged strategic partnerships to enhance reach.