Wrestling control back to the boardroom has been saved
Perspectives
Wrestling control back to the boardroom
Providing reliable, quality information to make informed and timely decisions
A large regional contractor with a US$ multi-billion portfolio of projects, was experiencing significant operational issues and concerns around the accuracy of reporting from the project level to the board level.
Abstract
A large regional contractor with a US$ multi-billion portfolio of projects, was experiencing significant operational issues and concerns around the accuracy of reporting from the project level to the board level. Unsubstantiated forecasts for cost and time to complete the projects were causing a disconnect between the actual project’s performance, and information relied on by the board for decision-making. As a result, unexpected cost overruns and losses were reported at project close.
How we helped
We conducted a programme of diagnostic reviews of the company’s projects, including site visits and desktop reviews of information. The findings were captured on a one-page project dashboard, specifically developed for the client, providing an accurate overview of the project’s status in terms of cost, schedule, quality and risks.
Real information around key issues was considered for the Project Control and Reporting blueprint. This involved a review of current (“as-is”) business processes related to Project Controls and Reporting, a gap analysis of “as-is” processes against industry leading practices (“to-be”), conducting workshops to identify and confirm gaps between “to-be” and “as-is” processes, and the development of a roadmap for the implementation of “to-be” leading practices.
Results
The development and use of a one-page project dashboard report provided the companies’ Executive Board with the accurate information required to regain control of their projects. This meant that the previous gap between projects and the boardroom was bridged by ensuring “one version of the truth”.
Our work provided clarity around common issues encountered by projects, and recommendations for immediate improvement (“quick wins”). The company’s in-house ability to undertake diagnostic reviews of its projects was developed and more accurate reporting of current and forecast performances of projects was ensured. A roadmap was developed to align current practices with industry leading practices which DTTL will deploy and implement alongside the company’s teams.
