How our project optimisation framework helped reduce the overall cost of new project developments by 25% whilst accelerating the delivery of strategic IT projects.
A UK financial institution had an overloaded project portfolio of over 100 projects with a projected budget spend of over £45 million per annum. There were too many projects causing critical resource bottle necks and overwhelming scarce management & business capability holding back the delivery of strategic projects required to deliver their business strategy.
We enabled our client to gain a clearer understanding value impact and risk assessment of portfolio of 100+ projects using our project portfolio optimization and modelling process. Projects were assessed according to their value impact, resource demands and risk status. The portfolio approach identified both strategic projects which could be accelerated and candidate projects for elimination from the portfolio.
Rationalising the project portfolio delivered immediate cost reductions. More importantly resources could then be reallocated to more pressing strategic projects allowing their delivery to be accelerated.
The final result was that the optimised portfolio provided cost savings of £12 million on a £45 million annual budget for new projects combined with key accelerated delivery of the most strategic projects , whilst the IT organisation benefited from greater executive confidence in arising from greater transparency and results delivery.