236  Blockchain

currencies to transact on digital ART. This requires using the best

architecture, cyber and operational best practices. It would be benefi-

cial to establish a CoP and CoE to exchange ideas and set up standards.

• Get sponsorship and buy-in from the senior management as COP and

CoE require SME time and also budget for innovation.

• Select stakeholders for each CoP and CoE. It needs to be a panel

with exceptional skills and also who can contribute towards set-

ting up standards, analyse the existing business process and suggest

improvements.

• Select an owner of the CoP and CoE. The owner needs to schedule

recursive sessions with the stakeholders and capture minutes/actions.

• The sessions must have a clear agenda. Every session must have minutes

of the meeting and actions assigned to stakeholders with a due date.

• Invite external industry experts as required on the CoP and CoE to

provide the latest developments on innovative technologies like block-

chain, cyber security and more.

Programme and milestone governance

Many programmes fail without delivering a business value, wasting time

and money, without a tight governance. Hence it is important to spend time

on setting up programme level governance to deliver strategic milestones

successfully. In this section, we will walk through good practices to estab-

lish governance:

• Define appropriate milestones as part of the programme deliverables.

• Milestones can be monthly, quarterly or yearly depending on the

complexity.

• Categorise milestones into levels to set up parent and child relation-

ship. For instance, creating an interoperability with various block-

chains can be level 1 (parent). Multiple child milestones can be

classified as Level 2–4. All these milestones have a target to deliver

programme level outcome.

• Each milestone must have quantitative and qualitative benefits associ-

ated with them.

• Milestones must be reviewed and measured on a weekly basis to

assess the progress as well as highlight any risks/issues against

them.

• Transparency, clarity and communication are essential for all mile-

stones. An appropriate communication and reporting mechanism

needs to be set up to provide updates to all stakeholders across the

IOSpeed organisation.

• Every programme and milestone has risks and issues associated with

them. It is essential to raise them on time.

• Budget allocation for the programme and individual milestones needs

to be managed with caution. The potential of overspend or underspend