Merger Integration
Description of Project
Chaucer was retained by Russia’s third largest independent oil business, formed as a result of the merger of several entities, to provide merger integration planning, facilitation and assurance for this very substantial amalgamation and integration program. The merger was a major undertaking, the first of its kind within the Russian Federation and, as such, very high profile. Flawless execution was required in an uncertain environment.
Chaucer’s role was to provide the planning, facilitation and project assurance to ensure that all the integration activities required to achieve financial, operational and organisational control were achieved in time to support ‘Day 1’ operations and management of the new company. Additionally, Chaucer supported the process for developing the new organisational design. All this work took place not only at a corporate level, but down into all the operational business units and service functions, including; Upstream, Downstream, Procurement, Legal, Financial, IT, HR, Technology, Business Development, etc.
Chaucer provided the overall planning and co-ordination of the individual merger integration teams and consultants by means of an overall Project Office. In the merger environment this is a particularly onerous task because of the large number of business and functional interfaces and interdependencies. Our scope of work therefore extended to comprehensive interdependency mapping and systematic risk identification and mitigation.
The project was delivered successfully in a high pressure environment without disruption to ongoing business, and lead to Chaucer’s appointment to a series of post merger development projects.
Chaucer’s Scope
- Project Office and Project Management services, including project strategy development, project planning, work breakdown and progress tracking, estimating and cost control
- Risk and issue management
- Communication planning for projects with very diverse subject matter
- Project Management support to the Project Director
- Design and development of project content e.g. process controls, delegation of authority framework, etc.
- Project co-ordination of the various Consultancy companies employed by the client
- Continuous guidance on team effectiveness, including elements of communication and mentoring
Benefits
Chaucer’s systematic and detailed planning and control processes provided the Project Director and his team sound assurance that the overall merger timeline was on track and that, post ‘Day 1’ processes were ready for implementation. This was achieved by clear communication of a very complex situation by means of both formal and informal status reporting.
Our consultant’s experience and cultural sensitivity permitted them to adapted to local culture to and become trusted members of the overall client teams. This allowed us to be able to identify and resolve any gaps and issues before they became a problem.
Chaucer’s framework for weekly target setting drove the progress of each work group to reach intermediate targets set by the Directorate. The project was extremely successful in all respects.
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