Experienced associates frequently identify opportunities to improve efficiencies and save costs but rarely have the time to participate in yet another initiative. Business excellence teams ensure those great ideas don’t go to waste. In addition to taking the lead on ideas generated by the business, these teams assess competitive positioning, market trends, and long-range financial plans to identify other key company initiatives. With a large pool of potential projects, the team sizes each opportunity, prioritizes them based on benefit, need and cost, and facilitates the project approval process.
Once projects have been approved, the business excellence team prepares the project plans, identifies interactions with other initiatives, establishes change management and communication approaches, and secures participation from the appropriate resources. They then lead the execution of the initiative, providing domain insights and expertise on behalf of their functional area. This includes managing the various work streams, coordinating across functional areas, tracking progress and resource utilization, and informing the organization of project status.