Strategies

iFACTS Strategies - Web based management and control of Strategies

Strategies play a very important role in an organization. Usually the mission is declared together with key objectives in several perspectives, for example financial objectives such as Result or Turnover. Other objectives can be Market share or Brand recognition. To achieve the objectives, Strategies are formulated. These Strategies are often established at operational level and will involve business processes and other organizational activities and resources.

When Strategies play this role in an organization they become maybe the most important business activity to control and monitor.

Important parts of a Strategy:

• Analysis. Is this a good strategy? Chance to succeed?
• Objectives to be measured (Turnover, Market share).
• Activities (Commercial, Event, Show, Investement, Financing...).
• Risks that might affect the Strategy and activities. Mitigating actions in place?
• Monitoring of Events that might affect the Strategy.

Web technology helps the Strategy responsible with documentation and analysis. Common work steps are to document in terms of description, analysis, critical success factors, dependencies, responsibilities or classification.

A web questionnaire can be used to measure to what degree the Strategy is following guidelines and other requirements.

Strategy risk assessment can be performed and followed up on.

iFACTS Strategies  provides management with a consequent reporting and monitoring of all the Strategies and activities, presented as a performance score 0-100%.

The list below shows all the available Strategy management variables. These can be turned on or off depending on purpose and ambition and can all be used to define the performance score.

Data and output

• Inventory and classification - of the Strategy. Information gathering such as description, analysis, responsibilities, roles, classification, applicable law. Finalizing all steps in the inventory step gives a score of 100%.
• GAP analysis - web questionnaire to check current status. Result presented in the range 0-100%.
• Risk assessment - scenario based risk assessment. Results in a Consequence-Probability matrix with risk acceptance level. Score depending on if there is preventive actions planned for all scenarios over risk acceptance.
• Requirement fulfillment - a requirement list is generated from the settings in classification, law and risk assessment. These requirements needs to be fulfilled in order to be "green". "Yellow" means active and "red" means passed due date.
• Objectives - in the measurement portal different measure sessions are created and then continuously measured. Fulfillment of objectives displays in the range 0-100%.
• Plans fulfillment - a plan requirement list is generated from the settings in classification, law and risk assessment. The plan needs to be done in time to be "green". "Yellow" means active and "red" means passed due date.
• Dependency mapping - in the dependency component the Strategy is mapped for dependencies with other organizational assets and activities. A red dependency means that the requirements do not match and will result in a lower score.
• Events - from the management work in the steps above, deviations and nonconformities will emerge. These are integrated into the Event module and monitored for follow up and action such as management approval. The Event score is calculated from number of green, yellow and red events.

Implementation and roll out can be done instantly with high efficiency using web technology.

iFACTS Strategies functionality

Dynamic setup of organizational structure and roles in the main administration, creation of company tree and roles. Connection to active directory.

Dynamic setup of inventory content  All the steps in the Strategies inventory wizard are created by the administrator.

Requirement trigger   Classification, applicable law and risk assessment can trigger requirements from the requirement list.

Plan trigger   Classification, applicable law and risk assessment can trigger plans from the PPP plan list.

Calculation   supports entering a calculation for each asset for example Business Impact Analysis, BIA.

Dependency component  to establish dependency connection between organizational assets and activities. Presented in a graph with critical line and dependency information.

Integration   with Risk management, GAP, Event, Audit, Riskportfolio, INSMAN and the ONTRACK dashboard.

Event monitoring  with connection to management approval and other roles and responsibilities.

Audit  connected to the Audit module for automated audits and inspection programs.

Report generator  a wide variety of reports/settings can be created and saved as templates.  All of these reports can be exported to Excel, Word, PDF, Text

Search can be conducted according to selection on all registered data, for example, organization, type, status, category, role etc.