The Postal Service has adopted a structured management process, Delivering Results, Innovation, Value and Efficiency (DRIVE), to improve business strategy development and execution against our major goals. It is sponsored by the Postmaster General with direct oversight from the Executive Leadership Team (ELT).
This process is based on a well-established methodology used by many corporations to apply strategic and financial rigor to decision-making, and to navigate through significant organizational changes. This structured approach to organizing operational and management activities facilitates cross-functional dialogue and collaboration, provides streamlined reporting and accountability and incorporates measurement, analysis and evaluation of a portfolio of strategic initiatives.
Progress is tracked through a detailed reporting system and is reviewed every two weeks by the ELT for the Postal Service. In FY2014, we continue to make improvements to our governance processes using industry best practice approaches to ensure successful outcomes.
The DRIVE portfolio of initiatives is dynamic and changes as priorities and resources require, and as programs are completed or adjusted based on external events. These initiatives support Postal Service corporatewide goals as shown in the table FY2014 Initiatives. In FY2014, the Postal Service focused on the implementation of a portfolio of 19 strategic initiatives to meet its ambitious performance and financial goals. To date, the DRIVE portfolio has been able to drive significant revenue and cost savings measures through our initiatives to make a positive impact on the Postal Service financial outlook in FY2014 and beyond.
The strategic initiatives identified for FY2014 were designed to respond to the changing environment of the Postal Service moving from a solely economic model to a model focusing on change, improvement and increasing our competitiveness to increase revenue generation. Many of these initiatives contribute to achieving multiple goals. For example optimizing our facility footprint and customer growth and retention are very important for revenue generation, while optimizing our network and delivery operations are important to increasing our efficiency and driving growth.
We continue to refine and grow our initiatives to best serve the overall needs of the Postal Service. To that end, the table to the right of this page demonstrates our DRIVE portfolio of initiatives in FY2014 and the changes to the portfolio since FY2013.
The changes to our initiatives can be categorized by the following four actions (see table FY2014 Initiatives):
1) New — Initiative has been created in FY2014 to address an emerging business need.
2) Continued — Initiative continued into FY2014 with minimal changes from FY2013.
3) Closed — Initiative was closed as a result of a completed activity or change in business need.
4) Refined — Initiative has been refined to reflect the current business situation and to achieve greater alignment with organizational goals.
5) Combined — Initiative has been combined with a similar DRIVE initiative(s) to more accurately reflect the current business situation and provide greater alignment organizationally.
