Real Project Management for Real Equity Compensation Professionals October 24, 2013

Transcription

1 Real Project Management for Real Equity Compensation Professionals October 24, 2013 Pam Ellis VP, Communications & Industry Relations, Solium Michelle May Manager, Equity Administration, Questcor Pharmaceuticals Barrett Scott Principal, Stock & Option Solutions Lydia Terrill Director, Global Shareholder Services, TIBCO Software

2 Agenda Introductions The Value of Project Management Skills in the Equity Comp World Our Top 5 Favorite Project Management Strategies Issuer Examples Questions Extra Resources

3 The Value of Project Management Skills Think you don t manage any projects? Guess again New plan rollouts Annual reports & shareholder Period closes meetings Vendor Proxy reporting evaluations Focal grants Year-end closes/ tax reporting IPOs Option exchanges Data audits RSA/RSU releases Vendor implementations Software migrations/upgrades ESPP purchases Corporate transactions System integrations

4 The Value of Project Management Skills We manage projects that have significant implications to the company and individuals Financial impact, compliance and reputational risk Most of us are not professional project managers, but we are responsible for managing projects daily Knowledge and understanding of certain techniques will: Help accomplish project goals in a timely manner Save money Avoid hiccups along the way and downstream Decrease risk Improve quality Make you look like a superstar!

5 Logic of Our Top 5 Favorite Strategies These tactics have worked! Seem like common sense, but require practice Don t be discouraged if the outcome isn t immediately ideal Requires repetition Determine what works for your specific situation Tactics will vary depending on company culture, project type, players involved, and other factors

6 #1: Know the scope Get a good handle on the task What are we trying to solve or improve? What is the end goal? What is at stake? What constitutes success? Is this a formalized project with specific tasks/milestones, owners, and deadlines or a git er done project? Players (stakeholders and individual contributors) What role does each play? What expectations do they have? Identify key things to be accomplished and by when

7 #1: Know the scope Understand project feasibility within the parameters given In some cases, there might not be much wiggle room Set expectations Provide feedback once initial assessment is made Visualize success how does it look and feel? Plan a celebration for project completion!

8 #2: Know your Budget / Resource Allocation Budget What is the project budget, budget process, and what is covered? Who is responsible for the budget and related decisions? Are some costs fixed or variable? What is the consequence if it goes above budget? Are different approvals needed for different aspects? Resource Allocation Are you on your own? Is there a team? Do you have access to others in the company? Do others have deliverables? Will vendors give you resources? How much time will people dedicate to the project? Is there cost or budget for other people s time commitment?

9 Contact Sheet

10 #3: Plan early and plan often Save time, effort, and heartache by putting in effort upfront Devise strategy Where you re going, who s going with you, and what you need to accomplish each step of the way Research previous attempts and what was learned Create project plans High level Plan Deliverables Gantt Chart Detail Project Plans Actions Update regularly! Add key dates on calendars and factor in holidays, vacations, market close dates, quarter/year-end, blackouts, etc. Get plan buy-in and sign-off from those involved Contact information for all participants How do I reach you on New Year s Eve at Midnight?

11 Gantt Chart MS Excel Template

12 #3: Plan early and plan often Know what is in your toolbox To manage the owners, tasks, deadlines, and deliverables Know your audience Intangible skills Work to the strengths and weaknesses Nag with donuts Think what makes people respond positively

13 #3: Plan early and plan often Plan for the unexpected Projects often take unexpected turns Start and stop Players and conditions change Requirements shift around Deadlines are missed How do you adapt? Know the potential risks May need to respond and take action quickly Keep team members updated Try not to allow feature creep Keep an issues log

14 #4: Communication - Get everyone on your side Know who is involved: stakeholders, milestone owners, task doers, backups May need a corporate executive sponsor Understand who owns the project: accountability, consequences Give everyone a voice and involve them early Build and foster internal and external relationships Make sure communications about the project are delivered consistently throughout the organization Hold regular meetings to update the players Be receptive to all forms of feedback and LISTEN! Don t wait for them to ask you how the project is going

15 #4: Communication

16 #4: Communication Global ESPP Rollout Action Item: Responsible Party: Preconditions: Target Date: Comments: Draft offering Outside Counsel None Completed Delivered on-time Vendor contract Project Leader Final offering documents Completed Form approved by Legal 10/7 Plan document Legal Shareholder approval Completed Comp Committee approval Legal/Board Final offering documents ASAP Awaiting meeting on 11/1 Prospectus Human Resources Comp Committee approval In Progress Prelim scheduled for 10/15 Employee announcement Project Leader Need legal approval Over-due Employee education Project Leader PowerPoint presentation Week of 11/14 Enrollment forms need revision Offering begins Project Leader Project completed On-time Canada first offering, all other foreign subs to follow 2 nd offering

17 #5: Remember to celebrate Provide positive reinforcement Host a post-mortem Document lessons learned Acknowledge various contributors publicly and recognize achievements Remember these are skills and experiences you can take anywhere and apply in many different situations Rewards and accolades may come from where you least expect it

18 The 5 Points #1 Know the Scope #2 Know your Budget / Resource Allocation #3 Plan and Plan Often #4 Communication #5 Remember to Celebrate

19 Examples & Questions Pam Ellis, CEP VP Communications Solium , Michelle May Manager, Equity Administration Questcor Pharmaceuticals , Barrett Scott Principal Stock & Option Solutions , Lydia Terrill, CEP Director, Global Shareholder Services TIBCO Software ,

20 Symptoms of Project at Risk Unclear goals and objectives Lack of alignment to project goals across stakeholders Non-participative sponsors and stakeholders, or users poor communication of objectives and targets across the team Unofficial scope creep Poor or lack of measures / information on project performance Unclear responsibilities (can be catastrophic on its own) Lack of or poor quality or resource planning Poor supplier integration and/or management Lack of commitment or team work Lack of ownership (relates to many areas) All of the above

21 The Project Process Pre Planning Project Work Post Project Preliminary project plan Cross functional brainstorm Project sponsor Identify players, roles, responsibilities DRAFT project definition Kickoff meeting Project work begins Status updates Status meetings Issues log Project plan updates Status reports to management Assess goals Lessons learned review Update project plan for future use

22 Sample Project Plan Task/Deliverable Due Date Owner Status Notes Onsite Employee Training on Dispositions 10/15/08 Stock Plans / HR Behind Schedule End of Year Disposition Surveys go out to employees YTD Tax Amounts from Payroll to Stock Plans Tax Rate Export from Payroll to Stock Plans Disposition surveys due back from employees Employee Data to Stock Plans Group 11/1/08 Stock Plans Complete Segmented by location 12/1/08 Payroll Not yet started 12/1/08 Payroll Not yet started For reconciliation 12/15/08 Employees Not yet started If transactions come in after 12/15, 12/15/08 HR Not yet started

23 Online Tools for Project Management MS Excel Gantt Chart Google Excel Gantt Charts Microsoft template Web Based Project Management Tools Do.com, MS SharePoint, MS Project Online, Workzone, Psoda, Paymo, Zoho Projects, Teamwork at TWProject.com, Smartsheet