Transformation Management Office turnaround
Our client, a global real estate services and investment company, had established a Transformation Management Office (TMO) to help deliver an ambitious set of transformation objectives. These included major changes to the company’s operating structures, business processes, capabilities, leadership and use of data and technology. These goals were a crucial part of the company’s overall strategic vision to maximize opportunities and build amazing spaces around the world.
However, during the first year of its existence, the TMO had encountered a number of challenges that hampered establishing engagement with the rest of the business and driving the execution of change programs.
The company had to transform its transformation management and needed help to do it. The company asked Berkeley to lead the turnaround program and ‘reset’ the TMO.
Resetting the Transformation Management Office was no simple feat, requiring oversight of a complex array of activities. The stakes were high – we were reporting directly to the global CEO on portfolio management. To ensure the client was fully on top of the whole portfolio, we set up a Project Management Office (PMO) function to deliver rigor to its huge array of transformation and structure projects, and workstreams, in the optimum way.
Berkeley took over the day-to-day running of the global transformation team. We designed and implemented the most effective team structure that would produce the outcomes the company needed. This included oversight of both new recruitment and exit management where necessary.
We knew we couldn’t simply impose a new structure on an unwilling team. For change to take hold effectively and produce long-term results, we had to engage the team, build trust, and ensure we were working together to the same goals. We ran regular all-team meetings, leadership team meetings and large-scale workshops to ensure everyone was invested in TMO success.
Engaging senior stakeholders and securing their trust on the turnaround was equally important, and we kept the global board fully briefed on the TMO ambitions and structure.
We left the TMO in good shape to ensure its own future success through developing a clear portfolio of projects and a detailed masterplan of transformation milestones, as well as establishing how best to report to the global CEO on 10 key projects.
The TMO team now had the right set-up after we restructured the team into four distinct capability groups, and mobilized and empowered TMO leaders to manage them more effectively. We also ensured the TMO had the right skillset across the team, with the recruitment of 10 new team members to fill previous gaps.
And the story in numbers
... and developed new change and communications channels to embed transformation
... to develop country leader roles and regional territories, and a standardized decision matrix for business line, country and region leaders
... of key milestones within the Valuations Advisory business, including selection of a new data platform
New capability groups
New team members
Berkeley’s work also ensured increased and more effective engagement between the TMO and the rest of the business – the key to enabling the TMO to achieve lasting change.
The client embedded our consultants into their most mission-critical transformation projects to ensure their success, underlining our value as transformation specialists. Our achievements included the rollout of a global organization design, scoping an enterprise-wide process framework, and successfully project managing the globalization of the Valuations business.”
Christian INgram, Partner