Leading Financial Services Firm
Project Management Maturity Initiative

Business Challenge

A division of a leading financial services company has embarked on a three-year Program Management Maturity Initiative (PMMI) that will provide a standard framework for managing projects and programs throughout the organization. Regulators have required a significant improvement in Program and Project Management and with support and representation from all sectors and regions, the PMMI was launched. The objectives of the PMMI are to increase the success rate of programs and projects by improving the quality of program management. In addition to meeting regulatory commitments, PMMI will provide the company with improved standardization, increased efficiency, and quicker realization of benefits derived from program management. The Portfolio, Program and Project Management Maturity Frameworks (aka “Methods Work Stream”) were designed based on Project Management Institute (PMI) industry standard methodologies, and customized by incorporation of internal and external leading practices.
The company requested Acumen’s assistance with the global rollout of the PMMI which included the deployment of the methods, tools and capabilities that comprised the project and program management frameworks. The client was challenged with the task of revising the current methodologies to align them with current internal policies, as well as the latest PMI methodologies. In addition, it was looking to Acumen for leading external practices as part of an independent assessment of the current framework, in addition to a gap analysis/review of current policies and potential areas for improvement.

Solution

Acumen Solutions consultants have deployed a program assurance solution at the company and have incorporated top-notch project management methodologies, tools and capabilities throughout the organization. Our consultants utilized their vast expertise in Program and Project management to assist the company’s various sectors with adopting a standard methodology and measuring the overall program management maturity of the organization. In addition to our project assurance and PMI qualifications, we also demonstrated expertise in the areas of business process reengineering, quality assurance, risk mitigation and SDLC.

Technical/Business Expertise

The following technical and business expertise was applied on the project:

• Business Process Reengineering/Business Analysis
• Certified Project Management
• Risk Analysis and Mitigation
• Quality Assurance
• SDLC

Return on Investment

Although the project is not complete, the company recognized an immediate 50% cost savings by employing Acumen Solutions and replacing their higher-priced resources. In addition, the fact that our consultants came to the organization with prior “hands-on” experience and similar business processing expertise, many best practices have been shared with the client and this knowledge sharing opportunity has resulted in improved methodologies that are aligned with the company’s internal policies and external leading practices.

Project Management Maturity Initiative (PDF)