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

CORPORATE PLANNING

VALUES • Reliable

• Integrity

• Excellence

• Teamwork

• Innovative

DEPARTMENTAL STRUCTURE

CORPORATE PLANNING

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

THANKS FOR YOUR TIME