Transforming Finance Excellence: Delivering Q2 Performance and Empowering Change

Our customer is the UK’s largest electricity distribution network.

To understand root causes and develop roadmaps, a number of process sprints were conducted. The sprints concluded that the poor efficiency metrics were driven by high headcount, which in turn was caused by complex system landscape requiring a lot of manual intervention to move data through processes, fragmented data model which leads to a lot of manual manipulation to create user ready reporting, unclear accountabilities leading to duplication of effort and legacy systems, which restricted the use of best of breed applications and digital tools. A Target Operating Model (TOM) was designed against which a new organisation could be developed.

To address this, our customer needed to launch a multi-workstream programme covering all of the key end to end processes in the finance function.

Additional complexity was added by the fact that multiple acquisitions and divestments were occurring within the same timeframe, impacting the systems and resources required for the CFO transformation.

Project One was asked to support the programme by setting up and running a robust and intelligent Project Management Office to ensure clear governance and accountability across the programme and provide key stakeholders with confidence in delivery and clear decision-making pathways.

The first step was to set up a clear programme structure with clear accountabilities. The structure set up reflected the desire to optimise the key end to end processes and so workstreams (or modules) were created for each of these processes. Each workstream had a clear owner, structure and objectives. Supporting workstreams for risk and controls, change management and organisational design were also created.

The programme scope was expanded to include the main transactions and the IT developments happening on the major financial systems. This allowed for prioritisation decisions and resource allocation to happen in the most efficient way.

A clear governance structure and reporting hierarchy was created to ensure programme progress could be tracked, issues escalated effectively, and decisions taken quickly. This included a Steering committee, Programme Management boards, Design Authority, Change control and RAIDs.

Key stage gates were developed to provide an overall structure to the programme. Each workstream was provided with support to develop the standard project management artefacts (charters, plans, etc) to a defined standard aligned to the stage gates. These were then centrally amalgamated into an overall programme plan with key milestones and dependencies identified, baselined and tracked to provide early indicators of potential delays and issues.

Each workstream delivered their efficiency and effectiveness targets on time allowing the target operating model to be implemented. Supporting workstreams ensured a smooth transition to a new organisational design including the compliant implementation of new SAP roles and segregation of duties.

Project One value Add:

• Expert in PMO methodology, tools and processes allowing the PMO to be quickly and effectively deployed

• Excellent governance processes implemented to ensure clear and consistent reporting to key stakeholders, building confidence and allowing decisions to be made quickly

• Robust plans and RAID logs developed to ensure early earnings of risks, issues and when plans were coming off track allowing early course correction.

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theteam@projectone.com