Situation:
Academic Research Organization (ARO) affiliated with top tier research institution was experiencing high turn-over and substantial financial losses despite excellent academic reputation.
Solutions:
Detailed gap analysis revealed lack of operational management expertise and robust business processes. An interim Executive Director was placed for 6 months to work with CEO, reporting to Board of Directors, to define and implement a multi-tiered reengineering effort including:
- Upgrade of Business Management processes and systems upgraded.
- Development of standard pricing methodology developed for key offerings.
- Implementation of governance structure implemented, including management team charter and roles/responsibilities definition.
- Introduction of clinical Project Management training and tools introduction.
- Implementation of organizational communication strategy.
- Redesign of financial management process redesign.
Value:
Halloran revised the ARO's management processes, clarified roles and introduced project management, which increased productivity, reduced redundant activities, and improved customer service. As a result, new financial management processes and governance structure increased revenue and reduced losses by over $1.5M in the first 6 months.