Wednesday 27 June 2012

Quantified value - examples from CoPs

GIANT VALUE These examples are all taken from the Warwick University/KIN study on Communities of Practice,

All of the comments in this study are anonymous, but they show the value that CoPs can bring in three areas, listed below.

1. Winning Work and impressing customers

“The CoP has contributed directly to over $600M in new work this year.”
“The knowledge and expertise within the community has helped the company to secure both new work and repeat work e.g. it played its part in securing 5 year work programmes with Client X and Client Y”
“Comments from various areas of the business have indicated much improved levels of customer satisfaction around delivery of specific projects, largely attributable to standard internal processes and increased skills.”
“It takes the concept of teamwork to another level - not just the local project team, but the rest of the community within the organisation. It breaks down the "hero" culture and improves confidence in front of the customer.”

2. Saving time and money

“The ABC CoP was used as a platform to gather information on Co X operating experiences on ABC and to assure application of new technology and novel approaches to ABC. Outcome was an astounding success - shaving $13-15million from topsides costs.”
“The network has delivered over 10 million back to the company since last two years.”
“Cost Reduction and reduced lost production opportunities. No figures due confidentiality.”
“CoP core team has helped shutdown teams plan and execute successful shutdowns where in the past they have had difficulty meeting their targets and their commitment to management.”
“Improving the competence of users … they normally get information back within half an hour when they ask for help, which is fantastic.”
“Provides a successful query resolution service with 80% of questioners assisted within a working day with 4 minutes as the fastest response to date.” 

3. Hiring and Retaining staff

“Young consultants get more quickly up to speed and become more motivated.”
“Our groups there have seen a significant benefit in the recruiting area - other firms DO NOT have a group similar to ours and it is becoming a benefit to us.”
“Feedback confirmed that the [CoP] involvement has been the reason for staff retention for some of the staff in the community.”
“They [CoPs] are a major reason I am still at my company”

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