presented by isaac akesseh orientation for newly engaged staff presentation on the corporate...
TRANSCRIPT
PRESENTED BY ISAAC AKESSEH
ORIENTATION FOR NEWLY ENGAGED STAFF
Presentation on the Corporate
Planning Department
CORPORATE PLANNING
PRESENTATION OUTLINE
Corporate Vision & Mission
Department’s Purpose Statement
Core Values
Departmental Structure
Main Functions
Key Result Areas
Critical issues
CORPORATE VISION
CORPORATE PLANNING
To be the model electricity grid company
We provide a reliable grid for quality livelihood
CORPORATE VISION
DEPARTMENT’S PURPOSE STATEMENT
CORPORATE PLANNING
To assist Management to define a strategic
direction for the company, help set achievable
strategic goals and objectives and facilitate its
implementation in an effective and efficient
manner
MAIN FUNCTIONS
CORPORATE PLANNING
• Develop a 10-year rolling Corporate Plan & Budget in accordance with GRIDCo’s Objectives
• Develop and use financial models to analyse and define strategic direction and set the paths to corporate growth and profitability
• Undertake business process re-engineering through studies of work processes to enhance effectiveness and efficiency
MAIN FUNCTIONS
CORPORATE PLANNING
• Develop and maintain GRIDCo’s management accounting information, budgeting and costing systems to support the decision making process
• Prepare the Annual Corporate Business Plan and Budget with associated financial statements and underlying assumptions
• Co-ordinate and assist Departments prepare Annual Business Plan & Budget for incorporation into the Annual Corporate Business Plan
• Submit Annual Performance Contracts & quarterly reports to State Enterprises Commission (SEC)
MAIN FUNCTIONS
CORPORATE PLANNING
• Monitor corporate performance against planned targets
• Monitor the operational performance of all Departments and Area Offices and issue periodic report – Performance Variance Reports
• Evaluate and appraise projects for economic viability and profitability and determine indicators for prioritisation projects for implementation
• Facilitate the implementation of the Performance Management System – Balanced Scorecard
KEY RESULTS AREAS
CORPORATE PLANNING
• Corporate & Business
Planning
• Financial Modelling
• Financial Analysis
• Balanced Scorecard
• Performance monitoring
• KPI evaluation
• Recurrent & Capital
Budgets
• Management reports
Define the Company’s corporate goals and objectives.
Collect and evaluate internal and external information that may affect the organization’s present and future state including energy projections.
Develop the Company’s long range (strategic) and Medium-range (operating) plans.
Identify yearly operating targets and tactical/short-range plans.
Develop and maintain Financial Models to facilitate financial analysis and reporting
Assist in structuring financing for Investment projects in conjunction with other client departments
Undertake Business process reviews and re-engineering to ensure optimization of processes.
KEY RESULTS AREAS
CORPORATE PLANNING
KEY RESULTS AREAS
CORPORATE PLANNING
Develop and implement a Performance Management System
Identify and Implement performance measures and targets for each Budget center and employee
Provide an effective awareness and communication support programme for the system
In conjunction with the Human Resource Department, develop a suitable reward system to complement the Performance Management System
Develop a feedback system to Management, Departments and employees as a basis for improving performance
Evaluate the programme on a continuous basis to ensure optimum performance and impact on the company.
KEY RESULTS AREAS
CORPORATE PLANNING
•Develop the Company’s corporate short range (operating) plans and Budget including Departmental and Sectional plans.•Provide management with timely and accurate performance reports on each Department‘s budget Centre.•Provide other government agencies with timely accurate performance report of the Company. •Evaluate the accomplishments of each Department and Budget Centre in relation to planned activities with emphasis on deviations warranting closer examination in the light of established evaluation standards.•Evaluate and undertake periodic review of the implementation of policies and accomplishments.•Develop and implement feedback and measurement systems that will assure implementation of approved plans and budget at all levels
CRITICAL ISSUES & STRATEGIES
CORPORATE PLANNING
Fragmented planning processes
Strategy: Develop a culture of integrated business planning process
• Realign all operational plans to the business plan
• Make business plans and budget the basis for all spending and approval
• Develop a system of feedback and feedforward control to sustain the planning culture
CRITICAL ISSUES & STRATEGIES
CORPORATE PLANNING
Lack of an effective performance management system
Strategy: Establish an effective performance management system
• GRIDCo has adopted the Balanced Scorecard for an integrated strategic planning and performance – corporate, department & Individual levels
• Continuous review of the corporate performance metrics to enhance performance management