The Ability to Pitstop – Why it Matters & How to Develop It
Pitstops: Towards A New Way of Working
Pitstops are a powerful means of optimizing performance potential – ideal for leader teams in complex and fast changing environments.
Pitstops are particularly powerful for teams that are under pressure to deliver ambitious strategic projects and initiatives – such as:
- New processes or systems
- Digital transformation
- Organizational restructure
- New products, markets or channels
- New business models – revenue streams.
Just like in racing, the objective is to come together as a team – mid-race – to identify what is working and quickly fix what is not. The result is performance gains of 7-25%.
Key to the power of pitstops is the use of systemic data to reveal risks and impediments to the acceleration of key strategic priorities and initiatives.
In the quest for the mili-second advantage, F1â„¢ pitstops are powered by the use of Big Data (Quantitative & Qualitative data sets). The same is true in leader pitstops, with data sets (called Pitstop Analyticsâ„¢) used to visualize and illuminate what the driver, team and stakeholders cannot otherwise see – that is the source of hidden performance losses and potential gains.
Delivered both online and face to face, pitstops typically generate 3 times the level of energy and engagement of traditional project workshops and strategy reviews.
Should you pitstop your key projects/priorities? Find out by assessing the effectiveness of your organizations' approach to project / strategy reviews here
While our Pitstop take inspiration from racing, the pitstop approach has been developed with 1000's of business teams to address the challenges of executing strategic initiatives, including:
- Connecting with business needs/outcomes
- Juggling competing projects
- Securing resources
- Engaging & aligning multiple stakeholders
- Cross-functional collaboration
- Planning under uncertainty and
- Infusing traditional planning methods with agility.
Pitstops mean more frequent and more effective mid race adjustment of key projects or strategies (and the teams running them). This increases confidence around execution, while also building a more cohesive and effective team.
Pitstops progressively measure, test and unlock the performance potential of those individuals and teams charged with ‘making it happen’. They also enable teams to make the progression to a new way of working, that is more agile and collaborative working (which can be measured, modeled and tracked).
Developing the ability to pitstop represents the progression to a more agile, collaborative and innovative ways of working for a fast changing and increasingly competitive world.
Are you curious about your skills, mindset and methods of working around key projects? If yes, it is time to pitstop!
‘…to come together as a team – mid-race – to identify what is working and quickly fix what is not'.
SOLUTIONS & SERVICES: Here are some of the ways that our research & insights are put to work by our clients:
