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Team Verandering: PCM
Transcript of Team Verandering: PCM
1. Loosing potential customers to competitors
2. Sponsors’ support ties with sustainability
3. Improper attitude influences
1. Manages the people risk
2. Key element to the realization of benefits
3. Builds more comprehensive methodology
4. Increases effective communication
5. Demands high quality assurance
1. Time consuming
3. Requires standardization
including standardized language
4. Difficulty of adoption
1. Ability to use other companies’ experiences introducing Change Management as examples of how to go about successfully institutionalizing it.
2. Expand the nature of the projects being undertaken
3. Expansion into the other major sections of CIBC
4. Attraction of personal and customers once they see the improvements
Retail Markets Technology
Retail Markets Process Engineering Group
Human Resources Function
New Initiatives Approval Process
On June 1, 1961, the record breaking merger of two chartered banks occurred in Canada. The Canadian Bank of Commerce (established in 1867) and the Imperial Bank of Canada (establish in 1875) amalgamated to form the Canadian Bank of Commerce (CIBC). Today, CIBC is a leading Canadian-based financial institution providing a complete collection of financial products and services in not only Canada but also globally.
To be the leader in client relationships
To fulfill the commitments we have made to each of stakeholders: clients, employees, communities and shareholders
Build client relationships by fulfilling the needs of clients
Create a stable and highly motivated internal environment where the employees can excel
Invest in social and economic development of the communities across the country
Generate consistent and sustainable earnings while attaining strategic growth
Assistant in managing the people risk
Crucial component in attaining benefits of change
Builds horizontal communication
Assures quality of change
• Identify and geographically map the key stakeholders.
• Identify the goals for the people directly affected (human objectives)
• Determine measurements for successful adoption.
• Execute an Impact Assessment.
• Complete a stakeholder risk assessment
• Determine the level of identified risks
• Monitor and track progress; revise strategies and action plans as needed.
• Report on issues and risks to determine appropriate resolution
People Change Management
People Change Management (PCM) is a process to identify risks associated with people that may have an impact on the effective implementation of any new initiative or business change. The focus of PCM is to develop appropriate mitigation plans to manage the people risk; these plans are integrated into the overall project plan.
Do Nothing: Let it run as the way it is at the moment
• Fewer costs
• Installation of change
• Slow pace
• Superficial benefits
• No behavioural changes
• Lack of accountability
Contract with third party: create a contractual relationship with an external company that specializes in managing people risk
• New/outside perspective
• Dismissal of managers’ fore-front responsibilities associated with PCM
• Potential for realization of benefits
• Time consuming
• Employees resistance
• Potential for a lack of complete attention
Hire experts: employ experts in PCM for every department in the bank
• Implementation guaranteed
• Comprehensive focus
• Member of CIBC family (culture)
• Behavioural changes will occur
• Realization of benefits
• Time consuming
• Potential for improper implementation
• Conflict of accountability
Meticulous integration of PCM: blend PCM into each department throughout the entire company in such a manner that it is completely transparent and blurred
• Proper implementation
• Behavioural changes guaranteed
• Corporate jargon
• Effective communication
• More involvement from managers and sponsors
• Realization of benefits
• Clear accountability
• Initial high costs
• Initially time consuming
The Four Footholds
F1. Retail Markets Technology
F2. Retail Markets Process Engineering Group
F3. Human Resources Function
F4. New Initiatives Approval Process
Within CIBC, they’re facing the problem of institutionalizing PCM. Although the need of a program to tackle issues associated with the human aspect on projects was initially recognized in 1988, the implementation of PCM is still an ongoing issue. Now, even after PCM has been introduced for many years, managers and project leaders are not taking responsibility for the changes necessary to fully recognize the benefits that come along with PCM.
In order to ensure sustainability of PCM, certain criteria must be met.
Constantly evolve and improve
Rely on feedback of success stories
Before the case spoke in depth about PCM, it first stated the reason why PCM was adopted in CIBC. The reason is that changes in company were being installed without considering the people risk involved in changes; that in long term, results in unattainable benefits.
Pros outweigh the cons
Blurring PCM allows for easier and faster acceptance
Much more inexpensive
Regular awareness workshops
“There was a need expressed within the organization and people in my function were asked to participate in that.” - Joyce Philips
As the adoption of MPM took place, PCM became a core element for the department’s role as agents of change.
The department realized two rudiments that were required for successful implementation of PCM into CIBC
the migration from the sponsors/managers
migration from the business as whole
The amalgamation of PCM and human resources gave the business a more concrete plan that is substantial, solid, assessable, and gauge able. PCM spoke corporate jargon which allowed the migration from the business side.
Within Retail Market section of CIBC
Incorporated Six Sigma and Lean Thinking together to redesign the key processes within Retail Markets
Redesigning the processes included developing PE tools that complemented PCM
The top 5 key processes were identified and thoroughly developed to integrate PCM fluently into the PE process, then made mandatory to ensure the follow through
Smooth transition; no major issues within this division
Transparency of PCM into processes
PCM is the foundation for producing positive results for PE
Retail Markets in one of three business lines that CIBC has where the reports are directly reviewed by the CEO
Technology Solutions is a combination of different technology areas, which is responsible for technology changes across the organization
They needed four main functions
Methodology for PM
Project Manager Training and Development
This was done by:
Positioned as a risk category to be managed as so
Due to the amount of time and effort required it was noticed that the managers would try to find ways around using PCM therefore teaching the importance of quality over quantity was important
Finding the proper sponsors
PCM was adopted into NIAP.
• The risks include:
People Change Manage Risk.
Risks are identified upfront
Merger of information systems and business process
“ Without NIAP to legitimize PCM, its implementation would have been more adversarial. The PCM processes were a by-product of the success.” – Joyce Phillips