Maximizing returns on strategic initiatives: PwC

Organizations are challenged with navigating constant change and transforming to remain competitive

Companies are constantly undergoing transformation to stay competitive and embrace new technologies. However, these initiatives come with risks that, if not managed effectively, can have significant consequences. Boards, executives, and risk and audit professionals are seeking answers on how to understand, manage, and help mitigate risk during transformation.

They want answers to such questions as:

How can I mitigate business and operational risks?
How can I understand and manage risks in to drive better accountability and efficiency?
What specialized services can help me achieve successful outcomes?
Can I receive assistance in enhancing my portfolio and project management capabilities?
How can I get a holistic assessment and strategic guidance for my transformation?
Are there methodologies and training programs available for my business?

Managing Transformation Risks for Successful Outcomes

PwC's Transformation Quality and Risk Management team helps companies achieve the key business outcomes of their transformation by proactively mitigating the risks that matter most throughout the implementation lifecycle. Our team goes beyond traditional project delivery and risk management and specializes in implementing and applying methodology redesign, Agile, DevOps, data security, portfolio enhancements, operational readiness and continuous integration/continuous development working practices to help improve regulatory compliance, mitigate delivery risk and reduce release cycle times.

PwC can work with you throughout your transformational journeys so that you can reap the intended benefits of your complex transformation.

What's at stake

70%

of all projects fail and don’t deliver what was promised. Implementation of proper management processes is shown to reduce failure rates to 20% or below

Source: Top Project Management Statistics: Editor’s Choice. TeamStage.

40%

plan to use automation to streamline transactional processes and enable strategic, actionable insights, freeing up employee time for more challenging business issues

Source: PwC Pulse Survey 2022

$4T

US dollars projected digital transformation spend by 2027

Source: Worldwide Spending on Digital Transformation is Forecast to Reach Almost $4 Trillion by 2027, According to New IDC Spending Guide. IDC, 30 May 2024.

What is driving demand for transformation?

Artificial intelligence
Business model changes
Customer experience innovation
Cybersecurity requirements
Delivery methodology change

Environmental, social, governance and sustainability needs
IT infrastructure modernization
Merger, acquisition or divestiture
Operating model changes
Poor track record of delivery

Product innovation
PMO and governance creation
Regulatory/GAAP changes
Struggling or failed project
System/technology change

“Effective risk management is the guiding force that leads to enterprise transformation success”

Antwon HardwickPrincipal, Cyber, Risk & Regulatory, PwC US

How PwC can help

Project delivery and recovery
Transformation risk and quality
Business and operational readiness
Portfolio, product and project enhancements
Transformation feasibility and initiation
Methodology redesign and upskilling

Project delivery and recovery

We are seasoned professionals in transformation delivery, committed to upholding standards so you can obtain greater efficiency throughout the lifecycle of your project. With a focus on quality and control, we aim to have each stage of the transformation process meticulously managed and tracked for optimal outcomes. Beyond simply executing tasks, we bring a wealth of experience and insight to the table, helping to streamline processes, enhance resources, and increase efficiencies. Additionally, we provide industry-leading project rescue and recovery services, offering timely interventions to help steer projects back on track and achieve transformation success.

Transformation risk and quality

We can provide an independent and proactive view of transformation risks to help drive accountability, quality and efficiency into project delivery practices. Our role is to uphold focus on critical success factors, promote transparency and accountability. Leveraging our industry-leading knowledge and tools, we work alongside clients and/or integration teams to serve as an early warning mechanism for emerging risks, offering practical recommendations to help prevent common transformation pitfalls and costly rework.

Business and operational readiness

We empower organizations with the tools and confidence to effectively mitigate business and operational readiness risks throughout transformation initiatives, facilitating seamless operations from the start so we can reach stabilization as efficiently as possible. We provide key stakeholders with an impartial view of ongoing business readiness efforts, helping identify gaps and opportunities that are crucial for program success. Our structured framework helps create holistic integration of business involvement throughout the project and transformation lifecycle so we can proactively mitigate business, operational and reputational risks.

Portfolio, product and project enhancements

We specialize in enhancing organizational portfolio, product and project management practices by conducting thorough assessments to help identify gaps and opportunities for enhancement. Through targeted strategies and tailored interventions, we work closely with your team to implement changes that help drive efficiency and support strategic goals. Our focus is on delivering measurable value and positioning your organization for long-term success in today's competitive landscape.

Transformation feasibility and initiation

Our transformation delivery specialists offer holistic support in establishing your transformation initiatives. From the initial stages of business case development to conducting thorough feasibility assessments and assisting with vendor and software selection activities, we help guide you through each step of the process. Our approach emphasizes meticulous up-front planning and consideration by confirming that critical risks are mitigated, and each aspect of your initiatives are carefully addressed and set a solid foundation for success.

Methodology redesign and upskilling

We enhance project management and software development practices with customized methodology redesign and upskilling programs. Our tailored approaches, tools, and training instill confidence in leaders that organizational standards align with heightened regulatory, and compliance demands across the Software Development Life Cycle (SDLC) and project delivery life cycles. This empowers teams to boost efficiency, effectiveness, and helps mitigate delivery risks to deliver successful project outcomes.