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• Cost and productivity review
– Patterned after McKinsey TOP/Comalco PEP
– Target 40 percent reduction in compressible costs
– 28 work units cover all departments and people
– Over 700 ideas selected to be implemented
– On track for overall 20 percent cost reduction
– Two year implementation window
• Rigorous capital spending process
• Performance management system
– Patterned on “balanced scorecards”
– Identify key value drivers for business
> Corporate “dashboard”
> Diagnostic
> Leading and lagging
– Target setting principles
– Consequence management
– Signed performance “contracts” for all employees
Secure profits
Secure profits