Tuesday, December 17, 2019

FST Update: Wrapping up Phase 2; looking toward Phase 3

Not only will we ring in a new year this January, but we'll also ring in a new phase of FST.  Here are a few points to keep in mind as we look back at Phase 2 and ahead toward Phase 3.

Want to listen to this update instead of reading it?  Tune in to WFST Radio now!

Phase 2: Readiness

Phase 2 has been a time of intense work, together with our stakeholders and partners across Grounds.
One important happening is that The FST Steering committee voted in favor of expanding the Planning and Budgeting Pilot. Next, we'll need to decide which schools and business units will participate in the expanded pilot, and define a roll-out schedule

Additionally, a cross-functional working group has been working to refine the FST Design Principles, using feedback from the Advisory Committee and the Steering Committee. You can view the design principles here on the FST website. 

In Phase 2, we have sought to identify high-level change impacts through a variety of activities, including our Business Process Discovery sessions, the Chart of Accounts Straw Model, Workday HCM and Finance Integrations, and more. These change impacts will help us confirm the scope and budget of the project, understand and communicate what is changing, inform our change management plans, and guide further analysis during Phase 3.

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Phase 3: Implementation

FST is a multi-step journey. So what's next? In January, Phase 3 begins. And yes, that's "Phase 3: Implementation" -- remember that we have a long lead time before go-live!  Phase 3 stretches from January 2020 through June of 2021, which gives us a long time to plan, architect, configure and prototype, and to test the system thoroughly.

Visit the FST website for a more detailed look at the Phase 3 Timeline.

As we move into Phase 3, you'll notice the project team getting larger as we add the expertise and bandwidth this phase will require. As we've dug into Phase 2 these past several months, it's been terrific to have the partnership of schools and units, with folks sharing their concerns, their ideas, and questions. We're truly looking forward to what Phase 3 will bring, and to that continued work and partnership. 

Comments and questions are welcome in the online community, and here on the blog.

Visit FST on the web: financetransformation.virginia.edu

Email us at financetransformation@virginia.edu 

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