Public Investment Fund Achieves Top Accreditation for Strategy and Performance Excellence

Written by Kimberly Tilar on July 26, 2024. Posted in News

The Public Investment Fund (PIF) has proudly attained the highest accreditation for excellence in strategy and performance management, awarded by the Global Performance Audit Unit (GPA Unit), a division of The KPI Institute. This esteemed Level 5: Optimized recognition is the result of a thorough evaluation of PIF’s strategy and performance management system.

A Mark of Distinction

“This distinguished accolade underscores PIF’s unwavering dedication to strategic excellence, performance measurement, and continuous improvement,” remarked Adrian Brudan, General Manager of the GPA Unit and Vice President of The KPI Institute. “Our commitment to unlocking organizational potential through rigorous research, expert insights, and cutting-edge solutions remains steadfast.”

Key Areas of Excellence

The accreditation highlights PIF’s outstanding performance in three pivotal areas:

• Strategic Planning: Crafting a comprehensive and cohesive strategic framework that ensures alignment between organizational goals and operational activities.
• Performance Measurement: Deploying precise and thorough Key Performance Indicators (KPIs) that promote informed decision-making and accountability.
• Performance Improvement: Continuously refining processes and practices to achieve superior results and foster a culture of ongoing excellence.

The assessment, conducted by the GPA Unit, utilized their PMS Maturity Model framework, which included an in-depth analysis of over 300 statements reflecting industry best practices. This robust methodology measures the complexity and efficiency of organizational capabilities in the realm of strategy and performance management.

A Global Investment Leader

PIF, a leading global investment entity, plays a critical role in driving Saudi Arabia’s economic development, diversification, and transformation. Known for its long-term investments aimed at maximizing sustainable returns, PIF has become the preferred partner for global investment opportunities. The fund’s stability is further validated by top-tier credit ratings: A1 with a positive outlook from Moody’s and A+ with a stable outlook from Fitch.

Partnership for Growth

PIF’s collaboration with GPA Unit is part of its ongoing effort to enhance its performance management practices. This partnership enables PIF to identify areas for growth and improvement, further solidifying its position as a pioneering sovereign wealth fund.

A Testament to Success

This achievement is a testament to PIF’s effective strategy and robust performance management system, underscoring its position as one of the most influential sovereign wealth funds worldwide. The recognition also reinforces PIF’s status as the leading brand among sovereign wealth funds globally.

Ceremonial Recognition

The milestone was celebrated during an award ceremony in Riyadh on June 6, 2024, hosted by Saad Alkroud, PIF Chief of Staff and General Secretary of the Board of Directors. The event highlighted PIF’s exceptional achievements and its ongoing journey towards strategic success.

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How public entities can better communicate strategy to citizens

Written by Contributor on April 11, 2024. Posted in Consultants, Strategy

Over the recent years since Vision 2030 of the Kingdom of Saudi Arabia (KSA) has been initiated, the massive changes within the operations of government entities have led to a rise of expectations for better communications with the stakeholders to achieve effective citizen engagement. Communication strategies and initiatives have been developed and launched with the initiation of KSA’s Vision 2030 in order to streamline the strategic objectives and clarify the roles of stakeholders and staff as well as identify the target audience and communicate with them more effectively.

To implement the communication strategy of any public entity effectively and efficiently, the communication plans should include what information should be communicated, who should receive that information, when that information should be delivered, and how those communications are tracked. Also, some actions need to be considered within the implementation of communication strategy, such as opening two-way communication means, using technology to streamline the communications, and focusing more on engaging with the audience–not just listening to them and answering.

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No “I” in team: the significance of multilateral coordination between government entities

Written by Kimberly Tilar on December 18, 2023. Posted in Interviews, Practitioner

Rayed Alhumaid is the current Head of the Strategy & Institutional Performance Program for the Kingdom of Saudi Arabia’s Ministry of Finance. He previously participated in the drafting and planning of the digital projects portfolio for the Ministry of Higher Education.

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