Implement a New Industry-wide Measurement System
This industry association had been charged by its members to build a new ratings system as the existing one lacked credibility with customers. Given the membership of the association — both buyers and sellers — an ‘agnostic’ third-party was needed to build consensus on the new approach to ratings, to build an implementation plan, and finally to work with members to implement the new system.
Extensive interviews with buyer and seller Executives to hear their point of view on measurement and implementation, followed by meetings with each, meetings with the Board Executive Committee, and the Board, to present findings and recommendations. Substantial benchmarking on measurement systems in other industries was also completed.
At three Board meetings over the course of 8 months, over 14 resolutions were proposed to the Board and all were unanimously approved. The industry is on track to complete a full cut-over to new measures, processes and standards by 1/1/14.