Case Study:
Centralized Portfolio Reporting
A successful engineering company with a few hundred employees and a portfolio of projects of varying sizes for multiple clients needed to improve the accuracy, timeliness, and quality of its project, program, and portfolio reporting.
The company’s current reporting inconsistencies were delaying issue identification and management, hindering strategic decision-making for program and resource planning, and inhibiting client confidence, which resulted in delayed invoice payments and lost revenue opportunities.
The company wished to create a reporting structure that could meet or exceed all internal and external reporting requirements.
After the company’s issues, concerns, and objectives were understood, an analysis was conducted that included interviews of the relevant stakeholders, evaluations of the company’s systems and processes, and reviews of multiple project and program reports.
The assessment’s findings confirmed that there were opportunities for improvement, and it was recommended that the company consider:
- Creating a standardized information management (IM) and reporting methodology
- Incorporating a company-level work breakdown structure (WBS)
- Implementing a single, fully-integrated project management information system (PMIS), and
- Enhancing project-, program-, and senior-management knowledge of project management and project controls processes, principles, and norms
These four items establish the plan, structure, tools, and knowledge from which high-quality reporting is derived, and high-quality reporting can lead to improved decision-making and proactive project management, enhanced client relationships, and increased company profits.
The implementation of these principles and subsequent centralized portfolio reporting structure directly resulted in accurate, timely, high-quality reports that:
- Provided comprehensive program information for decision-making and planning
- Helped substantiate and expedite payment of about $4 million in overdue invoices
- Promoted the extension or addition of approximately $40 million in new purchase orders
- Directly influenced the award of a five-year $50-80 million contract extension
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