Key Findings – Implementing Technology Change

Ben Walder, our Head of Transformation is writing a series of posts on the FCA’s Implementing Technology Change report – sharing thoughts and ideas on the reports key findings.

The FCA’s review of Change is driven by fear of failure.

This fear of failure leads to some conservative recommendations in the report – tightening governance for example.

Their analysis identified change related incidents as a significant causal factor in operational failure and disruption:

17% of “material” incidents reported to the FCA in 2019 were attributed to change failures.

Similar to the FCA, many businesses approach change from a position of fear rather than opportunity.

Fear can be overcome in 2 ways by:

🧩 giving responsibility for the delivery of the Change to those with the most knowledge

🧩 cultivating psychological safety

Operating in an environment of fear provides a constant distracting noise for any organisation, it clouds judgement and erodes confidence. Remember:

“It’s better to have tried and failed (with proportionate and dynamic guardrails) than to live life wondering what would’ve happened if I had tried”

Alfred Lord Tennyson (+ Agile ways of working)

It would be great to discuss the Implementing Technology Change | FCA with any Change colleagues – please get in touch to see how @ISCtd can help you with your Change practices.