The company targeted aggressive goals for increased sales and profitability. They hired a strategic planning company to identify the tactical projects necessary to achieve these goals. The projects included: developing new marketing channels, enhancing the company’s product line, improving their manufacturing capabilities, and generating additional sales.
The board of directors was prepared to borrow money or reserve retained earnings to complete these projects. However, the board wanted assurance that they would receive a sufficient return on their investment. Unfortunately, the strategic planning company, like many such companies, possessed expertise in strategy development, not in strategy execution.
The company hired PMAlliance to do the following: (1) Create realistic, detailed project plans to accomplish the strategic projects, (2) implement resource plans to enable simultaneous completion of day-to-day work as well as strategic projects, and (3) provide key stakeholders with dashboard and metrics reporting.
We worked with the company’s strategic teams to develop project plans for each initiative. We also provided dashboard reporting for management’s use in monitoring the status of activities. As a result, stakeholders could obtain both high-level project information and drill-down for detailed information as-needed.
The Board of Directors also received regular feedback to assure them that project teams were making significant headway and that company funds were being invested appropriately.
The company has completed all of its strategic projects and their stock price has increased by over 280%.
Company executives and directors attribute much of this increased share price to the completion of those strategic initiatives. In fact, when the company recently addressed the investment community, it discussed its promising future in terms of the extraordinary success of these initiatives.