HOW GAP ANALYSIS ADDS VALUE TO YOUR BUSINESS

A Gap Analysis can help you understand and prioritise business needs by helping identify any deficiencies or shortcomings that need to be overcome. Once you uncover the gaps, it becomes easier to quantify them and identify the work effort that will be required to address them. From here, you can help prioritise them so that the greatest gaps can be addressed first.

A Gap Analysis is a formal study of what a business is doing currently and where it wants to go in the future. An important point to remember is that the exercise is not an academic one; its aim is to enable you to add genuine value to your business.

Project Management Gap Analysis

Very often, business stakeholders have a sense of what they think the goal state of their organisation, process, or technology should look like. But they are often hard pressed to talk about how that goal state differs from what they have today. Taking time to complete a Gap Analysis helps articulate those differences in a meaningful way.

Gaps can exist in three primary categories:
  1. People, for example, resources lacking the right skill set, or roles that aren’t clearly defined.
  2. Processes, such as excessive redundancies in business processes, or unclear handoffs between steps in a process.
  3. Technology, like missing technological capability or incompatible systems.

Each type of gap requires a different approach, and they may be prioritised very differently. A thorough Gap Analysis can help identify the gaps, their root cause, and the solutions that can overcome them.

20|20 often find the best way of diagnosing organisational and operational effectiveness is to measure against the McKinsey 7S model that highlights seven interrelated elements: Structure, Strategy, Systems, Shared Values, Style, Staff and Skills.

Whilst formalising your organisational assessment may initially appear to be an exercise solely in documentation, it can become an essential and invaluable component in the analysis and design of any change within your business and provide a continuous roadmap for future developments and improvements. To fulfil this role the organisational structure must be updated and maintained regularly, so it doesn’t become a merely historical picture of your business at a particular point.

The challenges your organisation faces are often more apparent than the possible solutions. Working alongside you, our experienced consultants will analyse your current state of business, your operations, your management processes, procedures and tools.

So what are the advantages of having a Gap Analysis done?
Whether it’s the maturity of the organisation’s people, processes and tools to successfully deliver projects, or indeed the structures and dynamics within the projects themselves, 20|20 can deliver a gap analysis that provides clarity on where you are and where you could go, baselined against project delivery best practice, that can add real value to your business.

 

A Gap Analysis can give decision makers a comprehensive overview of the entire company or particular function such as accounting, information technology or operations. This allows directors and executives to determine whether the department or organisation has the resources to meet their mission, goals and objectives.

The Gap Analysis helps the business focus its efforts and make informed decisions. In addition, a company can allocate limited resources and design efficient budgets by taking into account its main concerns. Priorities are categorised as high, medium and low; the classification does not necessarily mean the priority has a higher ranking over others for attention or resources, but may help when conducting further investigation into issues.

The gaps between expectations and experiences generally lead to dissatisfaction. Therefore measuring these gaps is the first step to stakeholder satisfaction. Having the realistic ability to reach identified strategic goals and targets puts you, your team and your organisation at a distinct advantage. This inevitably leads to better projects, enhanced reputations, more business and higher profits.

This also applies to your internal customers – your staff! If there are gaps between their expectations and work experiences this can lead to low morale and poor productivity. If the same values and goals are shared across the organisation, success will ensue. An efficiently conducted gap analysis looks to improve the entire operation and ethos of the business. Employees are better motivated, more projects can be successfully closed in a shorter time frame – project life cycles can be positively impacted. Risks and losses can also be mitigated or eliminated.

A Gap Analysis truly does add value all round to your business.
Contact us now to see how we can add value:
Europe
Pete Walters
(T) +44 (0)1935 816774
(E) pete.walters@2020businessgroup.com
North America
Graham Chapman
(T) +1 713 243 0708
(E) graham.chapman@2020businessgroup.com

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