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Topics: Change Management
What would be the starting point for a revival. The company has been among the top EPC Companies for in its field at one time
Network:62



I have recently got an assignment to revive an Insolvent EPC company. The company has been among the top 5 EPC Companies in its field.
There is lots of information whcih leads to overwhelming
In such a case what should be a list of information to be collected to initiate the changes
What would be the starting point for a revival?
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Network:1604



Hello Sandeep, I am sure for any really useful advice we would need to know far more detail about the context, environment and history, and current staff, jobs, etc.. However, I imagine that two things come first - an assessment of stakeholders and their position, expectations and level of support (or resistance) they may be willing to offer, and secondly, where does the company have value that can be used to focus recovery?
Once the focus and value are clear, then you can make a plan based on the available resource.
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1 reply by Sandeep Kotwal
May 17, 2019 1:22 AM
Sandeep Kotwal
...
Thank you Christopher. I am trying to do the same. New investor has just been announced and the formatilities for take over of the Company has just initiated.
I am just collecting detailes about the projects and their status. There are currently 62 domestic projects and 10 international projects. Of these 16 projects have been identified as live to be closed for quick cash flow.
Should you be interested I shall keep you posted.
Network:22058



Start from top competitors. Perform a gap analysis.
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1 reply by Sandeep Kotwal
May 17, 2019 1:24 AM
Sandeep Kotwal
...
Seeking information on competitors is a big challenge. The pulicly available information might be a good staring point. A dummy bidding was done for a new project for an assesment of the competition. And that gave a good feel of the competition.
Network:62



May 16, 2019 7:54 AM
Replying to Christopher Bragg
...
Hello Sandeep, I am sure for any really useful advice we would need to know far more detail about the context, environment and history, and current staff, jobs, etc.. However, I imagine that two things come first - an assessment of stakeholders and their position, expectations and level of support (or resistance) they may be willing to offer, and secondly, where does the company have value that can be used to focus recovery?
Once the focus and value are clear, then you can make a plan based on the available resource.
Thank you Christopher. I am trying to do the same. New investor has just been announced and the formatilities for take over of the Company has just initiated.
I am just collecting detailes about the projects and their status. There are currently 62 domestic projects and 10 international projects. Of these 16 projects have been identified as live to be closed for quick cash flow.
Should you be interested I shall keep you posted.
...
1 reply by Christopher Bragg
May 17, 2019 4:02 AM
Christopher Bragg
...
Hello Sandeep, yes - I am interested to hear how things progress. Are there projects that you should drop that will free up resource to ensure you can be successful and maybe even speed up others, especially those you are looking for to generate cash flow? And of course, I imagine that boosting employee morale and stakeholder confidence will be critical to turning things around, so generating some positive achievements that can be celebrated and reducing stress by ditching projects that may be unrecoverable may be helpful. Of course, it depends on the projects and contracts and penalties, etc., but I think it is worth including non-financial measures and of course non-financial risks/opportunities in a portfolio selection exercise for all projects, and then run through the portfolio and get your teams and other stakeholders to categorise the projects, predict cash flows versus time, profitability, risks and then look for innovative ways to get rid of 'problem' projects and to increase the value that can be obtained from 'good' projects especially by looking at key resource allocation and reducing 'friction' between projects that may only be connected by virtue of the fact that they are placing demands on resources (site and back office) that are delaying 'better' projects. Also, having identified where you offer the best value, obviously you might want to drop or reduce commitments to those projects that are outside this 'value' position unless they score very high on some other factors (e.g. early cash flow, high penalties, etc.)
Network:62



May 16, 2019 7:55 AM
Replying to Abolfazl Yousefi Darestani
...
Start from top competitors. Perform a gap analysis.
Seeking information on competitors is a big challenge. The pulicly available information might be a good staring point. A dummy bidding was done for a new project for an assesment of the competition. And that gave a good feel of the competition.
Network:1604



May 17, 2019 1:22 AM
Replying to Sandeep Kotwal
...
Thank you Christopher. I am trying to do the same. New investor has just been announced and the formatilities for take over of the Company has just initiated.
I am just collecting detailes about the projects and their status. There are currently 62 domestic projects and 10 international projects. Of these 16 projects have been identified as live to be closed for quick cash flow.
Should you be interested I shall keep you posted.
Hello Sandeep, yes - I am interested to hear how things progress. Are there projects that you should drop that will free up resource to ensure you can be successful and maybe even speed up others, especially those you are looking for to generate cash flow? And of course, I imagine that boosting employee morale and stakeholder confidence will be critical to turning things around, so generating some positive achievements that can be celebrated and reducing stress by ditching projects that may be unrecoverable may be helpful. Of course, it depends on the projects and contracts and penalties, etc., but I think it is worth including non-financial measures and of course non-financial risks/opportunities in a portfolio selection exercise for all projects, and then run through the portfolio and get your teams and other stakeholders to categorise the projects, predict cash flows versus time, profitability, risks and then look for innovative ways to get rid of 'problem' projects and to increase the value that can be obtained from 'good' projects especially by looking at key resource allocation and reducing 'friction' between projects that may only be connected by virtue of the fact that they are placing demands on resources (site and back office) that are delaying 'better' projects. Also, having identified where you offer the best value, obviously you might want to drop or reduce commitments to those projects that are outside this 'value' position unless they score very high on some other factors (e.g. early cash flow, high penalties, etc.)

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