Because reengineering doesn't happen overnight, and because competitive conditions are increasing, now is the time for insurers to overhaul their business processes. Changes in the industry are accelerating and will continue to do so as less competitive companies are acquired by larger, more nimble companies.
Pacific Mutual is one of those nimble companies demonstrating its ability to blend people, processes, and technology together successfully. It continues to move on all fronts—strategic, organizational, and technological— in a coordinated fashion.
Pacific Mutual has responded to the ever-present need for new products in its highly segmented markets by specifically addressing the whole team concept, a phased approach in research and development, organizational tools, and project management techniques. It is moving toward a more open, innovative culture. Evidence of this is its new entrance into self-directed work teams for the day-to-day functional administrative service work.
Pacific Mutual respects the flexibility and fluidness of its "new product implementation process" as evidenced by the high level of ownership to keep the process contemporary and innovative. Each time a product is implemented, mechanics of the process are examined for appropriateness and changed as needed.
Pacific Mutual has also favorably impressed its insurance agents with its ability to deliver a quality product in less time, resulting in earlier sales than ever before following a product introduction. The products themselves continue to be highly successful with no product undergoing this process being discontinued due to fragmented, ineffective research and develop-
ment, fn fact, the company in 1990 and 1991 enjoyed its highest sales volume in its history since its formation in 1868.
Project management has arrived—agàin. Its principles and practices are spreading throughout the company. What makes it successful this time around is the project management support staff's ability to reintroduce it in a way thattós been acceptable to the entire organization while retaining the basic principles' effectiveness. Each division of the company has its project management experts who have collaborated on various project management efforts including a generic project management guide, review of project management computer software, arid other related endeavors. The company's first in-house project management course previewed this year.
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What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.