Published on: Wednesday 06 August 2008 by Administrator
CMD at the London Stock Exchange
June 2008 - Paul Carter Hemlin, Founder of Contract Management Direct was invited to address a group of 30 senior Financial Services executives from both the public and private sectors at the London Stock Exchange. Paul was asked to share his knowledge as a subject matter expert in the highly topical area of large-scale business transformation.
Discussing best practice on risk management and avoidance while ensuring deliverables and commitments are tracked and adhered to; Paul advised on the benefits of pro-active Contract Management when transforming a business or business process. The hour long presentation dealt with various scenarios; including transforming your business with an incumbent or a new supplier and transforming during the term of an existing contract
The presentation also contained practical advice on undertaking a business transition whilst in tandem living with the day-to-day pressures of maintaining and fulfilling Business As Usual (BAU) obligations. He advised on how disputes should be promptly dealt with in a contract by including a robust escalation path with short, defined timescales for resolution before an issue is raised to the next level of management.
Paul made it clear that a transformation must have a defined period of time for the activities to be undertaken, with clear and unambiguous obligations and deliverables for all concerned. His key message was "Transformation needs to be treated as a project in its own right and not as BAU, you only get one chance to get it right and then it gets very, very expensive". He emphasised the importance of regularly tracking obligations and key dependencies, which is paramount in order to identify potential issues before they become problems. He said "due to working within a fixed time period change control needs to be performed on a expedited basis and the most successful way to ensure and instil good Governance and Programme Management Office (PMO) processes is to write them into the contract for both parties to comply with".
The presentation reinforces CMD's intent on becoming the market leading Contract Management consultancy in the Financial Services sector. If you think your organisation would benefit from hearing Paul or one of the CMD team give this presentation, CMD can be contacted at
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