A PMI requires a temporary organization structure that exists outside of people’s day-to-day jobs. That structure should consist of five types of teams with clear accountabilities for addressing each of the primary sources of value in the integration and for managing critical areas of risk.
The Steering Committee is the key decision-making body that ensures all aspects of the integration come together as a coherent whole. Depending on the size of the deal, the Steering Committee could be headed by the CEO or a business line leader.
The Project Management Office is responsible for chartering teams, setting the PMI’s agenda, establishing synergy targets and tracking delivery against them, and orchestrating the change process.
Platform Teams provide specialist support in key areas such as finance, HR, IT, legal, and real estate.
Integration Teams are responsible for executing the integration and realizing identified synergies. They are usually organized by function, business unit, business process, region, or some combination thereof. They develop recommendations for capturing synergies, design the operating models and organization, and prepare for day-one operations.
Special-Issue Teams are temporary units that come together to resolve cross-functional issues. Examples include determining the implications of the integration for the combined company’s brand portfolio or maximizing customer retention during the PMI.