Scope creep – a costly colossus!
Usually, when starting a project, there’s a clear goal in mind, everyone is on board, and budgets and timelines have been set. But, small changes and additional requests trickle in as the work progresses. At first, they seem harmless - maybe even for the better. But, what started as a straightforward task soon grew into something far more complex and time-consuming - scope creep - a dangerous phenomenon that can quietly wreck your project!
These additions can accumulate without careful management, leading to overblown budgets, missed deadlines and stressed-out teams.
Importantly, it’s not always about what’s being added, but how these changes affect the original project framework.
Controlling project scope creep:
Without careful control, scope creep can inflate budgets, stretch timelines and turn your project into a costly colossus!
Be informed, be sharp, bbrief...
Family office investment strategies for effective portfolio management
In recent years, family offices have emerged as formidable players in the global financial landscape, managing substantial wealth on behalf of ultra-high-net-worth individuals.
Although there is still a preference by some family offices to adopt a more hands-on approach by directly acquiring private companies and properties, many are mitigating risk by co-investing with seasoned private equity professionals in direct investments. This co-investment approach allows family offices to benefit from expertise while optimising tax efficiency, agility and limiting liability.
Family offices are diversifying their investment strategies
With their growing prominence, family offices are diversifying their investment strategies, seeking alternative sources of return in today’s rapidly evolving investment landscape. This shift is creating new opportunities for alignment and synergy between family offices and the private equity and venture capital sector...
The rise of AI expertise as a new employment trend in South Africa
As ?Artificial Intelligence (AI ) technology continues to evolve globally, its integration into the South African business landscape is becoming increasingly prominent.
Companies across various sectors are leveraging ?AI to drive efficiencies, optimise operations, and create new revenue streams. This shift has triggered a surge in demand for AI specialists, leading to AI expertise emerging as one of the fastest-growing employment trends in the country.
AI integration and demand for specialists
Over the past five years, there has been a remarkable 182% increase in AI-related job vacancies in South Africa, according to the Pnet Job Market Trends Report of February 2024 . This growth is driven by the widespread adoption of AI technologies in industries ranging from finance to logistics. South African businesses are increasingly recognising the value that AI professionals bring in developing, implementing, and managing AI-driven solutions, making these roles highly sought after.
Furthermore, the interest in AI roles is not just limited to employers. There has been a 180% increase in...
Two-Pot retirement system - withdrawal FAQs
From 1 September 2024 South Africans with ?retirement funds have the option to participate in South Africa’s new two-pot retirement system.
Qualifying consumers with tax directives will be able to access approximately R100 billion in retirement savings.
The implications and benefits of the two-pot retirement system’s reform
The switch to the two-component retirement system will happen automatically except for provident fund and preservation fund members who were older than 55 on 1 March 2021, who can choose to opt in.
The financial industry and employers have undertaken comprehensive education to widen the understanding of the implications and benefits of the retirement system’s reform that will provide access to the savings pot to help consumers to pay off their debt, amongst others financial pressures...
Integrated leadership development - the power of character and soft skills
For decades leadership development has focused primarily on one thing – skills development. The so-called “hard” or “technical” skills were viewed as being of the utmost importance when it came to facilitating effective and efficient team coordination. This makes sense given that we’ve largely viewed leadership as either a transactional or motivational act. The theory behind this training is that new tools and knowledge are necessary to communicate a vision and values, as well as direct effective execution.
Training programs were developed to help leaders be more transformational and become servant leaders. Steven Covey’s “Seven Habits of Highly Effective People” and “Servant Leadership” were the pinnacle of this trend, but they also hinted at something more – a style of leadership training that considered, not only the skills necessary, but the character of the leader involved.
Slowly organisations were realising that no matter how good a leader was at the technical aspects of their job, his or her character was the primary factor in their effectiveness. For the forward-thinking business, these so called “soft” skills have now started taking precedence...
STUDY | Organisational adoption of generative AI boosts productivity and efficiency
A new study by our Institute for Business Value found that the surveyed CEOs are facing workforce, culture and regulation challenges as they act quickly to implement and scale generative AI ?across their organisations.
The annual?global study of 3,000 CEOs from over 30 countries and 26 industries, including South Africa, found that 64% of those surveyed say succeeding with generative AI will depend more on people’s adoption than the technology itself. However, 57% of local respondents say they are pushing their organisations to adopt generative AI more quickly than some people are comfortable with.
Impact of generative AI on employees
The findings also revealed that nearly two-thirds (65%) of surveyed South African CEOs say their teams have the skills and knowledge to incorporate generative AI, but few understand how generative AI adoption impacts...
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Broadcast media - future of audience measurement
The media industry in South Africa has long relied on world-class research as the foundation for effective ?decision-making .
As the industry continues to transform, we are dedicated to ensuring our audience measurement systems keep pace, providing stakeholders with the insights they need to thrive.
Strengthening TAMS
In response to concerns raised by broadcasters regarding the recently released ?Television Establishment Survey (TV ES) results, we commissioned an independent review by 3M3A.
The findings revealed that the weighting efficiency of the last TV ES was too low, leading to a recommendation against its adoption into the Television Audience Measurement Survey (TAMS).
The TAMS panel has demonstrated...
Job title inflation surging
The phenomenon of job-title inflation has gained traction in South Africa, driven both by young professional’s ambition for accelerated career progression and employers’ efforts to engage staff while managing costs. This trend has led to an increase in roles with prestigious titles, such as ‘Lead’, ‘Vice President’, or ‘Manager’, being offered to individuals with limited experience, skills, or corresponding salaries.
In the past year, there has been a 16% increase in roles featuring these titles for candidates with up to two years of experience in South Africa. For example, in 2022, a leading consultancy firm appointed over 1,000 new partners; however, these partners won’t receive the traditional equity share associated with such titles, prompting questions about the relevance and value of these titles today.
Historically, titles like ‘Lead’, ‘Principal’, ‘Partner,’ and ‘VP’ were earned after years of experience and dedication. Nowadays, these titles are increasingly conferred upon professionals in the early stages of their careers...
Generative AI transforming ERP systems
As the hype around ?artificial intelligence (AI ), and more particularly, Generative ?AI , continues to grow, manufacturers must assess the benefits of adopting this cutting-edge technology into their platforms and processes.
Similar to the innovation in cloud technology, the closer AI is to a business’s processes, the more transformative it will be. In context of Enterprise Resource Planning (ERP), generative AI is ushering in a wave of revolution that will dramatically change how manufacturers manage and optimise their businesses.
New possibilities for automation and data analysis
Manufacturers have long understood the importance of enhancing their operational efficiency and decision-making processes, leveraging predictive algorithms, and unlocking new possibilities for automation and data analysis...
Two-Pot system - impact on equities and retirement
The introduction of the two-pot system, together with possible interest rate cuts, decent momentum in wages and lower inflation, could boost consumer confidence and drive an increase in spending in the months ahead. This is expected to be positive for domestic retailers, particularly discretionary names (clothing and furniture mainly).
There could also be some benefit accruing to the banks, as savers may utilise their withdrawals to pay down debt, which could improve asset quality and free up capital to drive higher quality loan origination as well as higher transaction activity.
Implications for equities and investors
The two-pot retirement system came into effect from 1 September 2024 and South Africans are able to withdraw money from the savings pot component of their pension savings. However, given the landscape this have implications for equities and investors in South Africa...
Construction industry trends and innovations
A wave of technology and process innovation is sweeping the construction industry. The options and pace of change can be overwhelming, so it’s important to stay focused on the goal of all innovation – to improve efficiency, productivity and safety, for the industry and society at large.
In navigating the range of new technology innovations in construction, it’s useful to understand not only which offers the most promise for your sector, or your business – but also how to apply these innovations, in the most effective way. Innovation is a two-legged monster – it involves technology, and it involves application.
Data is power
One of the underlying innovation trends emerging in the construction industry is the acquisition of data from machines. For any business, data is power. The more you can understand about the performance of your business, the better your decisions will be...