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  • Writer's pictureNavigator Consulting

Navigator completes Turn Around Management training

In March 2022, Navigator Consulting implemented an online training programme for a leading Romanian liquidation and restructuring specialist.

The objective of the training was to focus on practical methodological tools and methods for the diagnostic analysis and turnaround management. This is fundamentally different from a classic liquidation situation in that the company in question still has a chance to be saved.

Some of the topics included:

Formal and Informal Objectives of TAM Engagements

The structure and objectives of a Turn-Around Management (TAM) project differ widely depending on the degree of financial emergency affecting the company, and the objectives of its stakeholders. Lenders are typically concerned with debt recovery. Governments are more concerned with corporate survival and continuity of employment. Owners are concerned with survival. One of the first things a consultant needs to understand is how to structure a TAM engagement based on formal and informal objectives.

Structuring & Contracting a TAM Engagement

Five phases of a Turn-Around Management Project:

  • Diagnosis

  • First 100 Days / Restructuring

  • Stabilisation

  • Recovery

  • Growth

Topics covered included:

  • Setting clear and measurable objectives and KPIs

  • Engagement duration and timeline

  • Consulting fees versus success fees

  • Team members needed

  • Typical steps taken in a 12-month engagement

  • Controlling and reporting

  • Hiring and firing staff

  • Business process restructuring scenarios

  • Liquidation scenarios

  • Break-up and sell scenarios

  • Corporate governance during TAM versus normal corporate activity

Budgeting and Organising TAM Engagements

Fees and Costs

Success Fees

Financial and Project Risk Analysis

Principles of Activities-Based Project Costing (ABC)

Turn-Around Management Risks

Outline of risks withing engagements and risk mitigation measures

Dealing with scenarios such as no executive support; executive resistance; faulty information; improper accounts; staff resistance; etc.

Discussion and Closing

Short Case studies of each TAM Phase in practice were provided.

For further information on our consultancy services for turn around management, company restructuring and growth, please contact us.

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