Lesson 1, Session 1
Critical Success Factors
The success factors identified in this Stage are:
- Early agreement with the relevant Business Sponsor of the baseline (generally base profit/ cost figure from which any additional profits/ reduction of costs will be attributed to the project).
- Obtaining buy-in from the FD to the financial calculations
- Provision of timely support to the procurement manager that allows early identification of opportunities. This support will ensure that the main project team do not misdirect their efforts at inefficiencies that are not going to yield significant potential benefits while ignoring others that may produce substantial potential benefits.
- Constant communication that helps ensure – the team have access to the latest cost information on the area they are reviewing & the team are kept up to date on statistics, volumes, assumptions supporting opportunities identified by the analysis team.