Client circumstance
Within a large Financial Services organisation, a divisional portfolio office was suffering from increased demand, by large programs and projects, for portfolio office services beyond the group’s core capabilities and experiences. The portfolio office focused primarily on operational and support based projects, six sigma process improvements and organisational change initiatives.
With a change in organisational structure, the group was now responsible for all programs, projects and initiatives undertaken by the division. The divisional portfolio office was unable to gain visibility over the pipeline, manage demand or gain visibility over the pipeline, perform portfolio management functions, enable and support programs or projects, control delivery or provide advice.
What the client needed
The problems being experienced were due to a lack of adequate structures, controls and measures, business engagement, capabilities across project management and business analysis, inadequate financial governance and lack of visibility. This led the need to implement a suitable structure, together with operational models that were more suitable for a portfolio office.
Why InnerCircle?
The client selected InnerCircle based upon a tailored approach underpinned by unique models and demonstrable experience working within the client. InnerCircle had a deep understanding of the client environment and stakeholders, and the client valued the incremental approach and the high levels of experience and strong reputations of the InnerCircle consultants.
Our approach
InnerCircle deployed two senior consultants to assess the maturity and develop models that the divisional portfolio office could operate against within short time frames, while supporting the client define their longer term goals.
The approach focused on developing a set of models for the divisional portfolio office that would allow them to take control over resource and capability management. This included providing recommendations on the key areas the divisional portfolio office should focus on in the short term in order to improve their brand and ability to support programs, projects and initiatives across the portfolio.
In addition, InnerCircle led the approach to develop operating models for workforce management and practice management across both Project Management and Business Analysis competencies, including developing a business case and component model for the divisional portfolio office. We also assessed the current operating state and identified a number of areas requiring focus in order for the group to support their new operating mandate as a result of the restructure.
Areas InnerCircle provided visibility over were associated with demand management, program management/project delivery, governance, PMO services and portfolio management functions.
What happened next?
Our approach helped to provide a framework the divisional portfolio office could use to improve their operating state, while giving them room to identify and plug the financial leakages.
While the engagement was a discrete piece of work with prescribed deliverables, there has been continual dialogue with the portfolio office manager to support program management/project delivery, which will enable InnerCircle to further help reduce the financial leakages from a project perspective.
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