Developing a PMO for the financial services
The purpose of the project
We undertook a review off all operational and organisational projects and change initiatives and made recommendations for areas the business could improve upon. Following a review there was also a potential requirement to look at the need to develop a Project Management Office (PMO) and a Head of Change role to ensure that future projects were controlled and a formal governance framework was applied and adopted.
What we did
The initial review and analysis of their projects and initiatives in flight commenced with interviews of all stakeholders and board members, to understand their current requirements and perceived priorities. Further interviews were undertaken with people involved in running the projects and change initiatives.
Following this review, a list of all change and their initial requirements and objectives were documented. This included resources that were required to deliver the project, associated costs and any budgets that had previously been agreed. An assessment of the authorisation process for budgets was also analysed and any cost benefit elements captured. Following this review all projects were documented and inter-dependencies between projects were noted, as well as any resource requirements and constraints. All known and estimated financial elements were also captured so as to understand where the most effective projects were and where the best cost benefit could be achieved.
A £3.5m programme of change was approved by the board and they then engaged us to develop a Change Management (CM) strategy. We initially conducted a 360 review of the existing procedures, looking at the four key elements of change management: culture, people, process & technology . A Marbral Advisory Project Manager was then engaged as an interim Head of Change.