9th XBRL International Conference

1
9th XBRL International Conference

• Getting an XBRL project up and running
• Presenter
• Mr. John Morgan
• UBmatrix Australia
• john.morgan_at_ubmatrix.com.au

2
There needs to be ..

• Approval to commence!
• To achieve this, you need
• Vision
• Goals Objectives
• Sponsor/finance (with sufficient budget!)
• Committed stakeholders
• Organisational capability
• Undertake project
• Manage
• Embrace change
• Wrapped into a Business Case for approval

3
Benefits of XBRL

• This Conference will show benefits
• Financial (eg less cost, greater profitability)
• Organisational
• Promotes organisation as easy to work with
• Use of Standards, promoting
• Ease of use
• Interoperability i.e. IT integration
• Adoption of existing standard
• Technical (eg system performance, lower support
  costs)
• Operational
• Improved internal external processes
• Improved decision making (better data quality!)
• Improved data collection (Timely, Accurate,
  Reasonable, Transforming, Efficient, Relevant)
• (Source KPMG International, 2004)

4
Making the Business Case

• Who prepares the case?
• The Sponsor, with a Business Analyst You?
• Getting the budget?
• Show the results if sufficiently funded.
• Show your organisation the real business
  benefits.
• Instil an urgency to adopt and commence a project
  now.

5
Managing a successful project

• A project is a temporary endeavour to create a
  unique product or service
• What is needed?
• A Steering Committee (Governance) comprising
  major Stakeholders (Sponsor, Users, PM)
• Project Management an experienced Project
  Manager who is fully accountable
• Defined and agreed Project Management Plan
• Clear objectives and deliverables
• Required Work broken down to level required to
  manage. Project broken into Phases
• Project metrics and ability to measure monitor
• Change Management process (for Project
  Scope/requirements as well as Organisational
  change systems)

6
Project Management Plan
Significant effort should be spent on planning
what is to be done, and how, before Execution.

• Project Charter (Approval to project and PM
  authority)
• Project approach/strategy
• Scope statement (Objectives Deliverables)
• Work, broken down into controlling components
  (WBS)
• Performance measurement requirements
• Milestones
• Statement of Work - what is being done who is
  doing it (SOW)
• Required staff (plus effort and cost)
• Plans for Scope, Risk, Quality, Communication,
  Procurement, Cost and Schedule management
• If I knew nothing about this project, would I be
  able to understand what is to happen by reading
  the Project Management Plan?

7
Project Management

• Project Management Institute (PMI, PMBOK) is the
  global standard. PMI requires the PM to
  constantly address
• Project integration management
• Project scope management (functional, technical
  Organisational)
• Project time management (schedule)
• Project cost management (finance)
• Project quality management (standards, assurance,
  governance)
• Project human resource management
• Project communications management (HR,
  measurement, reporting)
• Project risk management
• Project procurement management (cost reduction,
  probity)
• Note PMBOK is a trademark of the Project
  Management Institute, Inc. which is registered in
  the United States and other nations.

8
Project Management

• Initiating Set up and obtain authorisation to
  the project
• Planning define and refine objectives and
  select the best of the alternative courses of
  action to attain the projects objectives
• Executing Carry out the plan by co-ordinating
  resources (people and other)
• Controlling Monitor Measure progress to
  ensure project objectives are being met. Identify
  variances from plan so that corrective action can
  be taken when necessary
• Closing Formalise acceptance of the project
  and bring it to an orderly end

9
An XBRL Project

• Business Case
• Objectives (Scope, constraints, exclusions,
  assumptions, )
• Develop
• Obtain approval for pilot/total solution
• Pilot (Manual or Static)
• Create a taxonomy for a component, with some
  instance documents
• To prove
• Technology
• Concepts
• Project approach, plan and budget
• Project
• IT Integration Change Project
• Standard Operating Environment
• Web Services
• Components of a solution
• Always produce a 2.1 taxonomy and some instance
  documents
• Integration with other existing systems and
  processes
• Change to existing systems and processes
• Deployment

10
Project Management Metrics

• Given that our project objectives are SMART
• Stated
• Measurable
• Agreed
• Realistic
• Timely
• Then Milestones can be set to achieve these
  objectives, and progress can be measured.

11
Milestones Metrics

• Key milestones must be identified along the paths
  in reaching the projects objectives
• Each major deliverable may be a milestone, eg
• Business Case approval
• Project Management Plan
• Pilot Taxonomy
• Instance documents
• Metrics must be taken to assist in managing and
  controlling cost, schedule, risk and opportunity.
  
• Many methods available where work performed and
  work scheduled are measured.
• The PM can now report
• How much work should be done by now?
• How much work has actually been completed?
• How much has the completed work cost so far?
• How much more will it take to finish?
• What do we now expect the total cost to be?
• If you cannot measure it, you cannot manage it!

12
Conclusion

• Where is your organisation?
• Vision, Pilot, Existing systems, XBRL preparation
• What will it take for your organisation to
  proceed?
• You can help get it up and running
• Key documents required
• Spec 2.1
• FRTA
• IFRS taxonomy
• Your taxonomy
• Your Instance documents
• PMBOK
• Your Business Case, Project - plans, resources,
  standards, etc