Opportunity Framing is a simple yet extremely powerful project delivery tool, originating in the pharmaceuticals industry more than 30 years ago, Opportunity Framing is now widespread in oil and gas development opportunities, is also used in renewable power opportunities and can be applied in any type of project.
Typically applied within a stage-gated development process as part of identify/assess, the tool can also be used in the select phase to “re-frame” the opportunity if significant changes occur. Opportunity Framing sessions are between one and two days and involve the entire team in an intense, focussed workshop with the main deliverables being the project initiation note, initial risk-register, fully developed decision-based opportunity roadmaps, project sponsor closer-out presentation and complete team alignment across the full range of disciplines.
Complex multi-level projects can be successfully approached by developing nested roadmaps which can usually also be done in the two-day session. Opportunity framing also demonstrates significant value when applied taking a new perspective on the opportunity e.g. in joint-venture developments taking time in the workshop to also frame the project from the JV partners’ or other stakeholders’ viewpoint.
Whilst opportunity framing is a standard approach, EPEn experienced facilitators are able to tailor the modules within the workshop session to the project’s needs and challenges. Opportunity Framing has also been shown to add significant value in specific situations such as:
- Mergers & Acquisitions – framing potential acquisitions targets prior to the investment or to bring on-board a new project team once the investment has been made.
- Joint Ventures – overcoming the challenges of different working cultures and company expectations by framing the opportunity with the combined team.
- Divestments – approaching the divestment target in a holistic way, with all relevant disciplines allows the prospect or opportunity to be prepared for successful divestment by ensuring that clear areas of potential value are ready to present to potential buyers and any possible areas of concern are identified.
Opportunity Framing workshops are best facilitated by consultants who are not only skilled facilitators but also industry specialists, whatever the challenges in your opportunity, EPEn can provide the experts that you need.