Transformation doesn't always need a new business case. Large organizations already invest heavily in ongoing projects. The key is to analyze this existing portfolio, measure success differently, and steer current spending toward more impactful outcomes, starting with the cost of the status quo.

Instead of attempting a risky, organization-wide change, begin by focusing on one service area that cuts across multiple functions like tech, operations, and legal. This focused effort allows the organization to learn about its unique cultural barriers before scaling the transformation.

When driving major organizational change, a data-driven approach from the start is crucial for overcoming emotional resistance to established ways of working. Building a strong business case based on financial and market metrics can depersonalize the discussion and align stakeholders more quickly than relying on vision alone.

NYU's CIO credits her start at Goldman Sachs during the 2008 crisis for her rigorous approach to risk management. The key lesson: you don't have to like the worst-case scenario, but you must have a plan for it and communicate it clearly to stakeholders.

A CIO adds value not by micromanaging, but by acting as a 'snowplow.' This involves proactively exploring and clearing potential investment paths. This forward-looking reconnaissance enables the team to operate at maximum speed and focus on execution, knowing the strategic direction has been vetted.

Instead of seeking board approval at the end, NYU's investment team presents a long list of potential managers at the start of their process. This allows the committee to contribute connections, references, and concerns early on, making their input more strategic and helpful.

NYU’s CIO restructured governance by having the investment committee focus on strategic oversight and risk, while delegating manager selection to the internal team. A 3% portfolio allocation threshold determines when a manager decision requires committee buy-in, ensuring efficiency and proper focus.

To sell large transformation projects, present the ambitious "North Star" goal but break it into sequential stages. Critically, Stage 1 must deliver tangible business value on its own. This approach wins over skeptics by providing an early return on investment, securing the momentum and buy-in needed for subsequent stages.

The "move fast" mantra is often misapplied. True, sustainable speed isn't the starting point; it's the reward. Leaders earn the right to accelerate by first deeply understanding the problem, building trust, aligning the team, and crafting a powerful change story.