MANAGEMENT REPORT ON THE STRATEGIC SIGNIFICANT EVALUATION OF PROJECT GRIFFIN

MANAGEMENT REPORT ON THE STRATEGIC SIGNIFICANT EVALUATION OF PROJECT GRIFFIN

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Deputy Treasurer, SABMiller plc This case study, which won the Foreign Exchange (FX) Project of the Year category at the gtnews Awards 2012, explains how Project Griffin at SABMiller built a European treasury c entre in the UK to provide efficiencies an d standardisation. The project has enhanced control and reduced risk across the board at the brewer, in addition to generating substantial savings and transparent workflow optimisation in FX pricing, cash and expos ure forecasting. The case study is shared here to provide an overview of effective FX operations and in order to encourage best practice among treasuries. The strategic objective of Project Griffin, the name given to the implementation of a new European tr easury cen tre at the multinational brewer , SABMiller, was to leverage the scale of the corporation to deliver improved control and cut costs and risk exposures, including on its foreign exchange (FX) activities. Working in partnership with partners at IT2 and Citi, the project was started in 1 November 2010 and completed on time and on budget in April 2012. The aim was to establish best practice treasury operations throughout the region, centralised on the UK offices. The key requirements in the project p lan were to: Pooling and central funding b enefits far exceed the original business case estimate of US$1m. P hotograph: http://stefangustafsson.com/INSTRUCTIONS The field study provides students with an opportunity to apply the fundamentals of Executive Project Management, and all other facets of the MBL programme in a systems manner of thinking. The field study serves a dual purpose. Firstly, it describes and analyses the organisational set-up and its business environment, and secondly, it looks at the typical project environment within the organisation, and the dynamics of managing a project at the strategic level. Recommended approach Select a project of strategic significance (100% completed or 75% completed) in an organisation of your choice. The evaluation of this chosen project must be done in the following four phases: Phase 1: To assess the potential impacts on the project from the business environment surrounding the project This requires using a wide variety of business techniques to identify and assess the potential impacts from the macro-, market and microenvironments on the project. Phase 2: To assess the strategic positioning of the project within the organisation?s overall project pipeline of projects within the organisation?s organogram, policies, systems and procedures relative to competitors, supply/demand, protecting existing value, creating new value, et ceteraPhase 3: To assess the project environment within the organisation and the dynamics of initiating the project efficiently at the strategic management level. Benchmark your assessment against guidelines in your prescribed textbooks. Phase 4: To make recommendations to the board of your chosen organisation on each of the above phases to improve the effectiveness of supporting the project management environment in the organisation. Resources required for this field study All the prescribed study material for Executive Project Management and all other relevant study material prescribed or recommended by the MBL programme. A lecturer at the school who will be allocated to you to act as your academic mentor. You can expect the following from your mentor: guidance in terms of selecting a project of strategic relevance, challenging your assumptions and integrity of data; guidance towards a holistic and balanced approach; and lastly, general management inputs. The mentor will also act as your first examiner of the field study. The goodwill and cooperation of your chosen organisation.Outcome You have to submit a 50-page management report, plus appendices. Two bound copies must be given to the course administrator for marking.Confidentiality If confidentiality is expected of you from your chosen organisation, please contact the course administrator. Some practical guidelines Please select a project that is not classified as top secret ? you do not wish to enter into a confidentiality nightmare! Ensure that your chosen project is of strategic significance. A minimum capital value of +US$1 million may be used as a benchmark. Your chosen project may either be hard (e.g. building a plant) or soft (e.g. doing a merger transaction). It may also be on the corporate, business or functional levels of strategy implementation. Secure the goodwill and interest of your contact person in your chosen organisation. Ideally, this person should become your in-house mentor!What this field study is not It?s not about the evaluation of a company. It?s not about evaluating the insides of the project itself. It?s not about supplying a consulting service to the organisation to solve its strategy, financial, leadership or value chain problems. It?s not a one-dimensional evaluation of the project (e.g. not only a financial analysis of the project). It?s not an assessment of any organisational issue or initiative that does not comply with the definition of a project.Layout of the management report on the field study The following generic layout will guide you towards applying a holistic approach: Executive summaryApproach taken to do this field study ? How was optimality assured?Profiles of the chosen organisation and project.Compliance assessment of the project to key definitions of a project.Theory and practice of the assignment theme.Issues under Phase 1.Issues under Phase 2.Issues under Phase 3.Issues under Phase 4.ReferencesAppendices: