Striking the balance between cost, risk & performance
The trade-off between cost, risk and performance is an ever-present challenge for most organisations.
Realising true benefits in any program delivery is about striking the balance between cost, risk and performance and acknowledging that real, sustainable change or savings will rarely come in isolation and need to be understood and implemented in the context of the operating business and its environment.
The balance of cost, risk and performance are well documented as being core to Asset Lifecycle Management in deriving optimal organisational value.
Through a process of understanding organisational context, strategy, definition of value and utilisation of tailored prioritisation approaches (breaking down and weighting the various aspects of the cost, risk and performance dynamic), organisations can maximise benefits realised from deliverable and affordable cost-reduction strategies and initiatives.
In addition to realising targeted savings, from our experience, an approach centred on the cost, risk and performance relationship and broad process steps as outlined above, supplemented with strong governance, can derive a number of associated, broader, organisational benefits:
Improved organisational alignment on corporate objectives
Smarter, and more credible, investment decision making
Improved operational efficiency
Corporate culture and employee engagement benefits associated with all of the above
Do you find it difficult to embed sustainable business initiatives? Do you want to know more about defining value, the process of prioritisation or assessing risks on your project?