The strategy focuses on positioning AI projects on a two-axis map based on influence and ease of technology acquisition. The first strategy emphasizes prioritizing projects that have high corporate influence and are easy to acquire. It involves identifying such projects, allocating resources for rapid implementation, building cross-functional teams, and setting KPIs for tracking progress. For example, a project with readily available technology that aligns with corporate goals should be fast-tracked for success.
The second strategy is aimed at enhancing capabilities for projects that have high influence but face difficulties in technology acquisition. This involves conducting feasibility studies, forming alliances, and investing in employee training. A company might partner with a tech provider to overcome these challenges and ensure project alignment with strategic goals.
Lastly, the strategy calls for redirecting resources away from low influence projects, reassessing their value, and possibly scaling them down. This ensures resources are directed to projects that offer higher strategic returns, like repurposing a low impact project for better outcomes in future initiatives.
The strategies
⛳️ Strategy 1: Prioritise high influence and easy acquisition projects
- Identify AI projects with high corporate influence and technology that is easy to acquire
- Allocate resources and budget towards these projects for quick wins
- Establish a timeline for rapid implementation and deployment
- Communicate the strategic importance of these projects within the organisation
- Build a cross-functional team to support fast execution
- Develop measurable KPIs to track project success and influence
- Create a feedback loop for continuous improvement
- Document successes for internal case studies
- Benchmark project outcomes with similar industry projects
- Ensure compliance with corporate policies during project execution
⛳️ Strategy 2: Enhance capabilities for high influence and difficult acquisition projects
- Conduct thorough feasibility studies to understand technology gaps
- Seek partnerships or alliances with technology providers to ease acquisition
- Invest in employee training to build internal capabilities
- Develop a long-term roadmap for technology integration
- Secure executive sponsorship to ensure project alignment with corporate strategy
- Break down projects into phases for manageable implementation
- Regularly assess and mitigate risks associated with technology difficulties
- Identify and leverage internal champions to drive progress
- Utilise pilot projects as stepping stones for full-scale deployment
- Set clear milestones and evaluation criteria to measure progress
⛳️ Strategy 3: Redirect resources for low influence projects
- Identify low influence projects and assess their strategic value
- Engage with stakeholders to reassess project alignment with corporate goals
- Evaluate whether projects can be repositioned to increase their influence
- Consider scaling down or halting projects that do not add value
- Redirect resources towards higher influence or strategically critical initiatives
- Leverage learnings from these projects to inform future project selection
- Ensure there is clear communication to stakeholders about strategic decisions
- Explore potential for salvageable components or innovations within projects
- Create a portfolio review process to avoid similar low impact projects
- Document reasoning and outcomes for organisational learning
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
