Our philosophy behind the In-control Dashboards: the In-control Maturity Model

op 30 June 2014 in Highlights

Laws and regulations continue to toughen, there is considerable pressure on available resources and stakeholders of every kind and description are demanding insight into your financial performance and how you manage external laws and regulations. With everything you’re up against, you need to do your utmost to stay on track.

Our philosophy behind the In-control Dashboards: the In-control Maturity Model

Laws and regulations continue to toughen, there is considerable pressure on available resources and stakeholders of every kind and description are demanding insight into your financial performance and how you manage external laws and regulations. With everything you’re up against, you need to do your utmost to stay on track.

In-control can help. It gives people in the organisation the control they need to steer business operations effectively.

The In-control Maturity Model

The aim of getting In-control is to reach the desired level of control over your organisation and operational processes. Once you do so, you won’t just be ready for change; you’ll also improve the reliability of the service you provide for your customers.

During this process, you will reach a higher level step-by-step. Yellowtail has developed an In-control Maturity Model that gives you insight into the level of control your organisation is at now and helps you to set goals.

The Yellowtail In-control Maturity Model gives you insight into the levels that you need to work through to reach the desired degree of In-control for your organisation. It clearly presents your goals and gives you the tools and objectives you need to determine and reach the desired level of control.

Overview of the In-control Maturity Model

The Yellowtail In-control Maturity Model is made up of six levels, the ultimate goal being to reach organisational excellence. At this level, In-control adds value creation and improved excellence in how your organisation operates. The organisation that achieves the ultimate goal – level 6 of the In-control Maturity Model – is a risk-aware organisation that proactively manages operational processes based on real-time insight.

Level 0

In-control’s basic framework concerns the organisational processes. At this level you need to have insight into your material organisational processes and corresponding responsibilities (governance). This foundation is essential for organising the internal control of your organisation effectively.

Level 1

Once you have mapped out the organisational processes, you can set to work on the performance, risk and control framework. With the key risks that need to be controlled in mind, you determine what the ‘key controls’ for the processes should be; for example arising from internal and external laws and regulations. Based on which KPIs do you wish to monitor and control your organisation? Which projects are considered risky?

An important and often overlooked part of this stage is assigning KPIs, risks and ‘key controls’ to processes. The result is an integration of your performance, risk and control framework with the organisational processes and responsibilities, making assigning responsibilities and organising internal control much easier in the future.

Level 2

You now have the basics under control and the management responsibilities organised. Yet simply having written everything down doesn’t guarantee the quality of the control. We call this stage ‘conscious incompetence’. You know what you need to do as an organisation, but you can’t yet see whether the organisation actually has everything under control.

Level 3

You’ve set up the internal management with regard to key controls, risk management and KPIs, and it’s operational. You report periodically on the control – and quality of the control – within the organisation; however, you still rely heavily on various departments or divisions within the organisation to deliver these reports. As a result, you only find out the status afterwards.

Level 4

Level 4 and above can be described as internal control that is well established – and not just for the benefit of your auditor. You have real-time insight into the internal management and operations, and their performance. Through centrally organised insight, the internal control – and how it’s governed – has become an integral component of the organisation’s operation and its Plan & Control cycle.

Level 5

The dashboard has given you insight, but this doesn’t automatically mean that the operation also governs proactively on quality assurance and risk prevention. To gain real control of your organisation demands a cultural shift. By stationing In-control Dashboards throughout the organisation, tailored to the role of employees, and involving the whole organisation in the implementation, you will create risk awareness. You will then need to develop procedures and agreements that specify how the organisation should respond proactively to possible risks, errors and findings. Employees should be encouraged to act upon errors and should not be punished when an error is identified.

Level 6

The picture is complete. A central dashboard now provides real-time insight into the extent to which your organisation is In-control. Based on this single dashboard, the organisation can now issue an In-control statement.

Your organisation is now proactive and risk-aware. In accordance with procedures, it responds to errors, findings and risks, and identifies process and quality improvements proactively. In this case, In-control means insight and the ability to steer the organisation towards achieving the desired extent of control. In-control is a source of value.

Would you like to learn more about our In-control Maturity Model or our In-control Dashboards? Contact Edwin Lodder at elodder@yellowtail.nl or read more here.

Leave a comment

You are commenting as guest.