The major objective of the Opportunity Realisation Process is to ensure that the right
opportunities are progressed in the optimum manner by improving decision quality.
Within the Opportunity Realisation Process there are two major ways in which corporate
governance (management overview) is exercised to assure that the underlying value of the
opportunity is realised.
1 Adoption of the Decision Review Board concept in which a team of Decision
Makers external to opportunity/project team is formally constituted for each
opportunity with its role and responsibilities established as described below.
2 Incorporation of the mandatory SIEP Value Assurance Review Process into the
ORP. This process supports the Decision Review Boards in their work.
Both elements of corporate governance are described below.
2.5.2 Decision Review Board
The ORP requires ongoing dialoque between opportunity/project leaders and Decision
Makers. The key is that wide involvement and challenge starts early, before the final
concept is decided, such as that the widest possible range of options has been considered
The Decision Makers are those people (or groups of people) who have a major stake in
the outcome and are:
• responsible for the final decision within a New Venture, Company, Business Unit, etc.
• likely to be affected by its outcome.
• in a position to approve funding for proposed activities
• able to add significant value because of their expertise
Within the responsible New Venture, Company, or Business Unit an internal Decision
Review Board (DRB) made up of the Decision Makers must be constituted for each
opportunity or project 1
. A Decision Review Board is a multifunctional team external to
the opportunity/project led by an opportunity executive/sponsor charged with:
(i) evaluating the status of a opportunity at key milestones in the development
execution of an opportunity
(ii) endorsing the recommendations of the opportunity team before those
recommendations are passed to the corporate body and JVPs etc.
The DRB provides line guidance and sanction before the opportunity/project
recommendation is passed on to Company and Group corporate bodies or partners.
The DRB is a fundamental part of the Opportunity Realisation Process and will monitor
that the Value Assurance requirements have been satisfied.
The DRB membership for each phase of each opportunity/project must be agreed with
the relevant senior manager and included in the Opportunity Roadmap. The DRB is
seen as providing line steerage and accountability for opportunities and projects prior to
that provided by Company or Group corporate bodies. On occasion the role of the DRB
and Company corporate body may coincide and this should then be agreed and recorded
on the Roadmap.