Portfolio Management Transformation in Energy
As the competitive pressure continued to intensify the client needed to reduce cost to satisfy shareholders in any margin environment and redesign the ways of working to sustain cost savings.
Restructured demand, financial, and resource management
Focused on measures of merit and return projects
Aligned portfolio targets with resource allocation
Portfolio Management Transformation in Energy
As the competitive pressure continued to intensify the client needed to reduce cost to satisfy shareholders in any margin environment and redesign the ways of working to sustain cost savings.
Restructured demand, financial, and resource management
Focused on measures of merit and return projects
Aligned portfolio targets with resource allocation
Portfolio Management Transformation in Energy
As the competitive pressure continued to intensify the client needed to reduce cost to satisfy shareholders in any margin environment and redesign the ways of working to sustain cost savings.
Restructured demand, financial, and resource management
Focused on measures of merit and return projects
Aligned portfolio targets with resource allocation
The Situation: Issues with Long-Range Planning and ad-hoc initiatives
The Situation: Issues with Long-Range Planning and ad-hoc initiatives
Budgetary discipline was turned upside down when projects that were not planned for enter the pipeline or calculations of merits are not comparable across the portfolio. The client realized difficulties in tracking their capital expenditures and was caught by surprise when consolidating year-end reports on returns initiatives. Re-prioritizing projects was done at will and within the sight of the program manager or directors with that budget responsibility.
Odysseus Digital was brought in to implement a system to continuously analyze the portfolio and track progress, financials, and resources.
The organization saw the need of establishing a Transformation Management Office (TMO) in the light of shortcomings in multiple areas of project and portfolio management. Most of which related to spendings and returns:
Loosely structured programs had no comparable elements.
Fiscal discipline was absent from smaller initiatives.
Resource allocation was unstructured. Resources were overallocated.
Budgetary discipline was turned upside down when projects that were not planned for enter the pipeline or calculations of merits are not comparable across the portfolio. The client realized difficulties in tracking their capital expenditures and was caught by surprise when consolidating year-end reports on returns initiatives. Re-prioritizing projects was done at will and within the sight of the program manager or directors with that budget responsibility.
Odysseus Digital was brought in to implement a system to continuously analyze the portfolio and track progress, financials, and resources.
The organization saw the need of establishing a Transformation Management Office (TMO) in the light of shortcomings in multiple areas of project and portfolio management. Most of which related to spendings and returns:
Loosely structured programs had no comparable elements.
Fiscal discipline was absent from smaller initiatives.
Resource allocation was unstructured. Resources were overallocated.
Outcome
Outcome
1,000+ Initiatives re-structured: We removed barriers between strategic governance bodies and the people that executed the work on initiatives in a $200m IT portfolio. Additionally, we increased data discipline with a new tool that required technical and project management expertise from our consultants to deploy, configure, code, train (the trainer) and improve.
Agility: The organization transformed into a faster, and more adaptive organization with a commitment to cross-functional business excellence.
Shareholder value: By redefining processes and ways of working the organization became leaner and increased the value for investors.
1,000+ Initiatives re-structured: We removed barriers between strategic governance bodies and the people that executed the work on initiatives in a $200m IT portfolio. Additionally, we increased data discipline with a new tool that required technical and project management expertise from our consultants to deploy, configure, code, train (the trainer) and improve.
Agility: The organization transformed into a faster, and more adaptive organization with a commitment to cross-functional business excellence.
Shareholder value: By redefining processes and ways of working the organization became leaner and increased the value for investors.
Our Process
Our Process
Center of Technology Project Excellence
Center of Technology Project Excellence
We established a project center of excellence (PCoE) that funneled initiatives from ideation through to financial closure. Portfolio analysis increased maturity and 360 reporting fostered reasoning and transparency.
We established a project center of excellence (PCoE) that funneled initiatives from ideation through to financial closure. Portfolio analysis increased maturity and 360 reporting fostered reasoning and transparency.
All of the above contribute to a modern business transformation, because of their direct impact on the end user. Accompanying, the following programs have recurring needs: hardware refresh / infrastructure modernization, application rationalization, data management, procurement & vendor management, cybersecurity.
The cost-value matrix assists in identifying elements to modernize by evaluation their cost vs value.
All of the above contribute to a modern business transformation, because of their direct impact on the end user. Accompanying, the following programs have recurring needs: hardware refresh / infrastructure modernization, application rationalization, data management, procurement & vendor management, cybersecurity.
The cost-value matrix assists in identifying elements to modernize by evaluation their cost vs value.
All of the above contribute to a modern business transformation, because of their direct impact on the end user. Accompanying, the following programs have recurring needs: hardware refresh / infrastructure modernization, application rationalization, data management, procurement & vendor management, cybersecurity.
The cost-value matrix assists in identifying elements to modernize by evaluation their cost vs value.
A) Demand
A) Demand
Choosing intiatives that align with the business and comparing criticality at scale on TCO an returns entitles the organization to lead broader industry trends.
Choosing intiatives that align with the business and comparing criticality at scale on TCO an returns entitles the organization to lead broader industry trends.
B) Execution
B) Execution
Tracking progress of tasks, assignments of resources, and forecasting of financials enabled the organization to control and swap budgets faster.
Tracking progress of tasks, assignments of resources, and forecasting of financials enabled the organization to control and swap budgets faster.
C) Value Realization
C) Value Realization
The organization has now transparency into the initiative closure processes, including target KPIs and asset investement calulcations.
The organization has now transparency into the initiative closure processes, including target KPIs and asset investement calulcations.
The evident parts of project management are Scope, Time, Budget, Resources, etc. In technology-centric centers of excellence there are additional elements to be included. In the latter half of the engagement the organization was focused on integrating the following elements into the management of the TMO:
The evident parts of project management are Scope, Time, Budget, Resources, etc. In technology-centric centers of excellence there are additional elements to be included. In the latter half of the engagement the organization was focused on integrating the following elements into the management of the TMO:
Risk
Risk
While risk management can successfully be applied by deploying senior project and program managers to large and capital intense initiatives, the organization was incorporated risk management into the demand process.
Vendor
Vendor
Vendors can be MSPs, booked on a statement of work (SoW) or contracted as contingent labor. Providing transparency across initiatives resulted in reconsidering the types and amount of vendors int ath space.
Software
Software
Software procurement, renewal and IT Asset Management were taken into consideration when reporting on cost, feasibility, planning, and continuity of all initiatives that entered the demand funnel.
Value Creation
Value Creation
Value Creation
With new processes came the need for stronger governance & compliance. The organization re-deployed experienced resources to guide projects and programs in the centralized Transformation Management Office (TMO). They oversee budgetary and resource management processes and administer systems of record to keep projects aligned.
With new processes came the need for stronger governance & compliance. The organization re-deployed experienced resources to guide projects and programs in the centralized Transformation Management Office (TMO). They oversee budgetary and resource management processes and administer systems of record to keep projects aligned.
Reach Your Targets
Book Initial Assessment
Schedule a call with Jakub M.
Reach Your Targets
Book Initial Assessment
Schedule a call with Jakub M.
Reach Your Targets
Schedule a call with Jakub M.