Published on February 02, 2021
Tata AIA is building a project management framework and implementing a robust technology platform to monitor its various enterprise projects. It wanted to understand similar frameworks implemented and wanted to learn about Tata Steel’s Shikhar25 programme. Tata Steel’s Shikhar25 programme is an EBITDA improvement programme ensuring rigor in implementation and involving all persons in the hierarchy for faster value realisation.
TBExG facilitated a session on December 01, 2020, which was conducted by Keshari Kumar, Chief - Business Performance Enhancement and Bharat Garg, Head - Business Performance Enhancement, Raw Materials, from Tata Steel. Shikhar25’s key objectives, coverage, core belief and governance were set as an introduction. The programme is enabled by a four-step process and integrated governance mechanism to ensure coverage and speed. It is structured around a theme or process and aspires for benchmark operational metrics based on best demonstrated performance. Idea management at Shikar25 covers value pool identification by benchmarking, focused ideation, prioritisation using 4i method, solutioning, implementation and value tracking. The progress ideas pipeline is monitored through stage gate methodology (D0-D4).
IMPACT centres of the Shikhar25 programme is the focal point for managing all aspects. It has four major key roles which comprise the Shikhar25 Champions who manage the programme, Shikhar25 facilitators who facilitate the change and provide analyst support, Initiative Leaders who drive initiatives and Mentors/Plant Leaders who direct the programme. The IMPACT Centre is a 30-minute stand up meeting where the roadmap is reviewed and metrics are assessed on an exception basis. It identifies the current gap with the target/milestone and the actions needed to close the gap. No problem-solving takes place in the 30 minutes but it provides answers on how teams should be engaged in solving problems.
Tata AIA listed the following learnings from the session:
- Top management buy in, well defined accountability
- Clearly defined KPIs are necessary to drive initiatives
- Important to adopt a robust framework
- Segregation between the functional team and project management office
- Structure of governance meetings and reporting mechanism
- DICE scoring concept and red/green system of rating status
Tata AIA plans to adopt the learnings over the next three to twelve months. It is an important change management aspect for an organisation and a maturity curve/adoption in implementing will be done in a phased manner.
Participant Speak
A very robust framework has been implemented in Tata Steel which has matured very well since implementation. The team was quite open and transparent in sharing their learnings, successes and failures. They were also very supportive in providing assistance for follow-up meetings.
Sanjay Arora, EVP - Business Transformation and Project Management Office, Tata AIA Life Insurance Company