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Case Study
Transformation Portfolio Optimisation
A Global Bank was managing a large portfolio of disparate programs and projects.
AUK Bank was managing a large portfolio of disparate programs and projects.
THE CHALLENGE
- A UK Bank was managing a large portfolio of disparate programmes and projects.
- The Transformation budget for 2017 was over-subscribed with increased demands for further change or scope-creep.
- There was limited understanding of benefit realisation at various stages in the portfolio.
- Strategic objectives for the client were clear, but there was no ‘true’ alignment involving the portfolio of change.
HOW WE HELPED
- Establish over-arching governance arrangements to ensure ‘value-added’ change is being monitored.
- Confirmation of strategic objectives and criteria to assess ‘critical’ programmes and projects – ‘does the change support both strategic and business objectives with the right outcomes ?’
- Development of a high-level business ‘blueprint’ with measurable outcomes for external (e.g. customers) and internal (e.g. staff) priorities.
- Recut the overall portfolio roadmap into delivery ‘themes’ and recut plan into manageable tranches driving business benefit (e.g. collection of project phases producing benefits together at key stages).
- Determine business change that is ‘critical now’ for this year and those that can be ‘deferred’ to next year.
- Analysis of the forecast budgets for each project within the programme, linking back to benefits, and categorising costs.
- Linking agreed spend back to change capability ,i.e. IT development and delivery capacity, to understand ability to deliver in line with project timelines.
- Identify critical priorities and dependencies.
- Provide challenge to projects with clear scope or requirements.
- Set up ongoing monitoring and reporting.
RESULTS
- 300+ projects considered and realigned against business objectives.
- All ‘critical’ change priorities accommodated with additional change being ‘deferred’ to next year.
- £50m budget remained the same, but with more projects being delivered.
- Business has better grasp on assessing projects and deciding their value for customers and business alike.
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