Innovation and New Ventures
Our Innovation Incubator has developed formal processes for innovation harvesting. We expect our innovation process to deliver increased value to our customers while providing new opportunities for growth consistent with our horizon 2 and 3 strategies. The New Ventures group will continue to search for new opportunities for growth through the development of standalone, adjacent and complementary offerings like the Digital Enterprise and Advisian businesses.
Group Project Management Office (GPMO)
The GPMO has been set up to centrally manage internal investments and improvements in the business lines. By centrally controlling investment, we avoid duplication of effort and rigorously assess opportunities to ensure that we are investing in areas that deliver the greatest return on investment and deliver real value for all our stakeholders. The GPMO will take a portfolio management approach with individual activities run as projects with resources assigned as required. The GPMO also project manages all areas of investment across the Group so that overall investment in the organization can be captured and measured.
Mergers and Acquisitions
Mergers and Acquisitions is one of the ways we deploy capital to achieve the strategic growth ambitions of the Company. WorleyParsons has a long history of acquiring organizations to help improve our service offering and capability to meet the needs of our customers and we continue to look for opportunities to grow in this way. The Mergers and Acquisitions group drives the acquisition program and manages the divestment of non-core assets at the Group level.