The Briefing
A rapidly growing organisation recognized the urgent need to establish a PMO with a robust management framework to improve operational needs and lay the foundation for future growth. Recognizing the limitations of time and resources, we decided on a six-month timeframe to implement meaningful change. During this period, we aimed to uncover key gaps, establish critical processes, create essential assets and onboard the teams. Importantly, the goal was not to completely overhaul existing practices but to implement meaningful and practical changes. This initiative represents the first step in a continuous improvement journey.
The Outcome
“For first time, we are able to consolidate project financials quickly with minimal administrative overhead. The auditors love it!”
During discovery, we conducted an analysis of existing processes and procedures. We then mapped out an ideal workflow. Based on our findings, we were able to identify and standardise critical documents and assets. This included internal and external documents, as well as engineering drawings. This simple, yet critical, first step helped raised operational standards immediately.
One of the biggest gaps was the lack of standardization in how project financials are monitored. This not only complicated the finance and procurement teams’ jobs, but it also led to a high incidence of errors that were mission critical. We opted for a customized Excel solution as a pragmatic option that balances cost-effectiveness and ease of adoption while achieving the predefined objectives. This tailored solution incorporated features, including real-time exchange rates, scenario analysis, and tracking of baseline versus actual performance. The solution established a clear data standard that can be upgraded or ported into an ERP system in the future.
Additionally, we compiled a detailed project management playbook and executed an onboarding plan to ensure all team members are fully trained and aligned. For first time, the finance team was able to consolidate project financials quickly with minimal administrative overhead. The auditors love it!
