Fast-Track Strategic Planning at the Federal Reserve Bank


Challenge


The Federal Reserve Bank needs to pursue a fast-track strategic planning initiative involving multiple stakeholders across the country to create a new computing environment for a crucial research arm of the bank.  Complex needs and interests need to be addressed and solutions created that would be accepted, supported and put into action with everyone’s buy-in.  We are asked to facilitate a fast-track strategic planning initiative that would engage stakeholders in creating the strategy and generate the broadest base of commitment possible to implement the plan.

Solution: Future Search Conference

  • Establish a common purpose and direction across multiple constituencies
  • Broaden horizons and perspectives, recognize differences, integrate common interests
  • Develop shared responsibility and commitment to solutions, strategies and actions

(read more about Future Search here)  (explore www.futuresearch.net)


Results

  • A $2.5M technology-improvement project conceived through multi-stakeholder engagement, planned and implemented through a broad base of support across the organization
  • An efficient planning process that saved the bank significant time and costs usually dedicated to focus groups, surveys and meetings
  • A better-connected organization, deeper professional relationships between people and groups

http://www.ny.frb.org/