The cofounders have worked on several projects , across industry segments. Here are some of the success stories.
PM COE set up for multi-million functional portfolio of a mining giant leads to multi-million dollar saving
A way was needed for project ideas globally to be received, reviewed and implemented with financial, aligned to existing governance and new project management controls.
The additional mandate was that some projects – will be managed by professional project managers, others would need to be managed by functional subject matter experts. The process implemented would impact global functional employees and the projects implemented would impact 50K plus employees across the globe.
First off, our unique PM Maturity Curve was used to study the current culture of project and portfolio management.
Based on feedback from senior leadership, existing project managers and, aligned with the current governance practices portfolio management process was designed. The global PMO team was hired and set up.
An internal SharePoint based process was developed to collect, assess, approve ideas and execute projects. Finance teams were involved to align with the financial process cycle for this multi-million dollar portfolio.
This was followed by a global rollout of the portfolio creation process.
To ensure standardized project management methods are being used across the globe even for small projects. We launched training for relevant personnel – and trained over 200 people in the function of project management basics.
PMO team set up lead to the creation of support processes for PMs, reports, risk, issue, finance and change management processes being set up and with diligence increase in adherence.
Tools & Techniques used:
PM maturity curve@
Project management workbook
Risk, issue registers
The portfolio management process executed the first time, resulted in a soft saving of $10 million – due to the assessment and pre-approval discussion done with requestors- to merge, reduce projects. budgets, scopes as required.
Tighter controls meant that – the projects once approved were finishing on time and budget with managed scope changes – the adherence of projects came up from 15% to 80%
Savings of about $1 Million were achieved with the several members of the PMO team were set up in a low cost- high quality location
Feedback on training from an experienced subject matter expert – who had managed projects in the past:
“After the training, I was able to relate to the reasons, of the issues I faced in my previous projects. Thank you – I am now much better equipped to be project manager”
Feedback on portfolio management process from a senior global head
“This is the first time, where we all (global functional leadership) were on the same page about projects we are approving and then managed to keep a line of sight and intervention for the year- on their execution along with the project finances”
Improving Fraud Capture Rate – Large Private Label Credit Card provider
Suspicious fraudulent transactions were queued for review to the Fraud review team for account block and minimising fraud on PLCC cards. A Key Metric for operational review was Fraud Capture. The process was operating at a False Positive of 160 which was way below the industry average thus impacting the Fraud Leakage and having high process manpower cost
Formulated a project team across Decision Sciences, Technology and the Operations team, The charter was to revisit the existing Fraud Queue rules and determine the existing FP rate.
Using data mining tools like CHAID (Chi - square Automatic Interaction Detector) & CART (Classification & Regression Tree), new rules were determined using existing in-house databases and credit information provided by 3rd parties.
A Champion-Challenger strategy was piloted to determine the effectiveness of new vs. existing rules, post which the new rule set was implemented in the decision engine.
Tools & Techniques used:
Chi-square Automatic Interaction Detector (CHAID)
Classification Regression Tree (CART)
Statistical Process Control Mechanism
False Positive Rate was reduced to 110 from a baseline of 160, resulting in annualised savings of USD 160K
This Project was judged as the Best Project Overall in “Lakshya”, annual Project showcase across industries hosted by National Institute of Industrial Engineering, NITIE Mumbai.
Reducing stabilisation period of large deals for an IT major leads to >20% improvement
The organization was facing issues with delays in Go-Live for Multi Vertical, Multi Geo deals owing to coordination and communication issues within departments. Given the fact that these deals were multi-million deals, this impacted the perception of the company to deliver on large and complex deals and in turn delayed the revenue realization thus impacting the Top Line for the company.
Using Design Thinking principles, the End State was arrived at keeping the customer requirements in mind.
The whole Sales to Delivery framework was re-designed and TAKT time established for each sub process.
Utilising BPMS principles Key Metrics were established for each subprocess in the lifecycle ad a weekly reporting rhythm was established using Microsoft Knowledge Management Framework
Reduction in stabilization timeframe for all large deals from 140 to 110 days.
One View readiness framework established for all sub-functions.
The improvements ensured
quicker revenue realization,
reduced turn around time for metric stabilization and
improved client satisfaction.