Transformation Portfolio Optimization
A Global Bank was managing a large portfolio of disparate programs and projects.
A Global Bank was managing a large portfolio of disparate programs and projects. This case study highlights how Axis Corporate worked with the client.
- A Global Bank was managing a large portfolio of disparate programs and projects;
- The Transformation budget was over-subscribed with increased demands for further change or scope-creep;
- The limited understanding of benefit realization at various stages in the portfolio;
- Strategic objectives for the client were clear but there was no “true” alignment involving the portfolio change.
HOW WE HELPED
- Established over-arching governance arrangements to ensure “value-added” change was being monitored
- Confirmation of strategic objectives and criteria to assess “critical” programs and projects – does the change support both strategic and business objectives with the right outcomes?”
- Developed 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;
- Determined business change that is “critical now” for this year and those that can be “deferred” to next year;
- Analyzed the forecast budgets for each project within the program, linking back to benefits and categorizing costs;
- Linked agreed spend back to change capability, i.e. IT development and delivery capacity, to understand ability to deliver in line with project timelines;
- Identified critical priorities and dependencies;
- Provided challenge to projects with clear scope or requirements’;
- Set-up ongoing monitoring and reporting.
- 300+ projects considered and realigned against business objectives;
- All critical change priorities accommodated with additional change being “deferred” to next year;
- $656 million 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.