What comes to mind when you hear the term FP&A Change Management? Typically, we think of large projects, acquisitions, reorganisations, or rebranding.

But what about smaller changes?

Examples of minor changes would be a new manager, new team members, resignations, process changes, or planning. Minor changes also need to be managed, even though they may not need an entire project plan. There is a simple four-step framework to help. Small changes happen so frequently that you may already be informally doing this, but the framework puts structure around the process. Pre-planning and thoughtfulness upfront can ensure smoother implementation and tremendous success for smaller changes.
 
1. Define the Purpose

The first step in the framework is to define the purpose of the change. This step is essential as it impacts all the subsequent steps.

Defining the purpose could also be described as defining the why. 

• Why are we making this change, or what is the end goal?

• Is there a specific metric or goal that the change will enable you or your company to meet?  

• Will the change improve or refine a process? 

    
Ask these types of questions to brainstorm and then narrow down the answer.

Defining the purpose will help to identify and understand the stakeholders, help to gain buy-in for the change, and determine the communication plan. Try not to focus on the cause of the change; for example, an employee has resigned or on the tactical plan, which in this example would be coverage of duties, recruitment, and onboarding. Focus on the purpose of the change, which could be maintaining levels of excellence in FP&A Business Partnering while short-staffed. 
 
2. Analyse the Downstream Impacts on both People and Process

You would be surprised how much can be affected by a small change, yet many do not analyse the downstream impacts. Analysing the downstream impacts will drive your communication plan, tasks, and steps to take and allow for prioritisation to mitigate the impact. Many changes have been rolled out and implemented only to find that it breaks something downstream that was not recognised ahead of time, creating the need for an urgent fix. Consider the following points:

• Take the time to think through and take note of first who is impacted by the change and then secondly, what processes are affected by the change.  

• Come up with a thorough list of the key stakeholders and what internal processes are affected. 

• Have preliminary conversations with stakeholders to uncover if there are any unknown downstream impacts. 

This analysis will also identify opportunities to mitigate or decrease effects during the rollout.
 
3. Create a Communication Plan

The communication plan is important because this is where you will gain the buy-in. Consider the timing of communication and when would be the best time to engage stakeholders in the change process.  

Is this something that can be shared with all stakeholders, or are there others who may need to know sooner? The plan should include key messaging around the change, as well as timelines on steps and engagement for stakeholders. The method of communication should also be considered. It could be as simple as an email, or for something more impactful, scheduling one on ones with stakeholders or a group meeting may be more appropriate. 

Take some time to draft the communication. Include the purpose of the change in the communication to clearly define why the change is taking place and eliminates stakeholder assumptions that could derail success. Planning out the communication will ensure consistent messaging and that stakeholders are notified timely.
 
4. Follow Up

Follow up with your team and key stakeholders after implementing the change. This is an excellent opportunity for lessons learned and to identify any gaps. Ask for feedback not only on the change itself but also on the process of rolling out the change. The follow-up will be appreciated and help drive buy-in for the following small change.

Summary

In summary, this four-step framework could take very little or more time, depending on the size and depth of the smaller change. In the end, however, it will be time well spent in that it will save time by gaining buy-in from stakeholders and proactive mitigation of downstream impacts. Following the framework for smaller change will create structure.