Once the M&A transaction has been completed, the complicated process of integration begins. Successful integrations show a number of characteristics:
envisaged synergies are achieved
integration is completed within a short time frame
All this is easier said than done. In order to make this happen, a strong project skills are required. This starts with clarity on project ownership (usually the person who will lose sleep over a failing project), defining stakeholders and appointing the project manager (who will select the right project team members). We also need a clear project mandate, including a definition of the scope of the project. This means we will also need to spell out those elements which will not be included in the project. Deliverables will need to be defined whereby the challenge will be to make them as concrete as possible at the same time leaving some room to manoeuver as one cannot predict all the project’s dynamics.