Challenge meetings

'Don’t rock the boat', 'If it ain’t broke don’t fix it'

There are plenty of expressions enjoining us to accept the status quo. Challenge meetings are intended to do just the opposite. Just because it’s 'always been that way' doesn’t mean that that is the best way to do things. All areas benefit from review. Not only is the discussion valuable, things change. For example technology solutions previously unavailable or cost prohibitive become relevant, lower cost product sourcing alternatives appear. LCMS Business Solutions run challenge meetings for all areas of your business.

Deliverables - More work! For challenge meetings generally everyone leaves the room with more to do. Challenge will identify areas where the questions ‘Why? Is? Are? Can? are relevant. Relatively few of these questions will be fully answered during the meeting. To gain maximum effect the follow up to the meeting is as important as the meeting itself. The benefits can be surprising - not perhaps as startling as the 55% reduction in manufacturing cost achieved for an already high margin electronics product we've seen, but still substantial enough to make this a very worthwhile exercise.

Follow up meeting – set at a date sufficiently far out to enable answers to the questions to be obtained. The deliverables into this meeting are the real value of the challenge exercise. At the follow up priorities for change are set. The emphasis will be on those where the greatest benefit accrues to the business.

Services:

Due Diligence

Management review

Business overview

Technology review

Research and Development

Operations/Manufacturing

Regulatory and Quality

Reports

Recommendations

Extended Reporting

Risk Analysis

Challenge

Workshops

Continuing Support

Project Planning - Support is available for planning in all areas of the business. Our strongest experience however is in the development areas. Either as stand alone or in conjunction with the Portfolio Analysis Planning meetings to integrate existing and new development activity.

Resources and Timelines - The old axiom is that ‘a project takes twice as long as forecast and costs four times as much as projected’ and that can be the reality. As an independent external agent we can ensure that internal agendas and politics don’t distort realistic planning. We work to ensure a realistic approach to timelines and resource loading. The output may not always be what you want to hear – but it will be realistic. We’ll advise on the use of external versus internal resources.

Main Index

Business Decision Report

Venture Capital Decision Report