The PMO first ensures that a standard, structured, and repeatable process for conducting Project Management is established within the organization. The PMO than expands its influence to develop its methodology to a comprehensive and robust level with appropriate integration or alignment of technical and business processes.

Our client was undertaking sweeping changes across their entire organization. With more than 7 major systems implementations occurring concurrently, the risk to their business was large. With no development organization, or experienced project managers the client needed to ensure that the changes would not undermine the business as it continued to grow at an exponential rate.

The client required an experienced systems integrator who could not only see them through their immediate needs but also set up an infrastructure that would allow them to continue to grow and expand efficiently while ensuring business continuity.

FinServ brought in a team of seasoned professionals having an extensive background in systems integration, project management and the alternative asset management industry. The team leveraged FinServ’s PMO methodology to deploy an extensive set of components to ensure the client’s success.

Prior to our engagement with the client, each fund had been allowed to operate as its own unique business, creating its own operations and systems approach. While each business was very successful, this approach was not cost effective, and senior levels of the organization rarely interacted, losing valuable knowledge and expertise. To address this issue, the first step we took was to create a steering committee and project management office. The steering committee met monthly and was made up of the CFOs of each business. This insured that all funds were aware of all projects, encouraging input across the company.

The PMO setup standard templates for status reporting, issue tracking and resolutions, as well as the components of the systems development lifecycle (SDLC) integrating all these components into Microsoft’s MS Project Professional with Project Web Access application. In addition the PMO established a standard governance structure and communication plan for all projects across the enterprise. The PMO also played a significant role in all third party vendor contract and pricing negotiations helping the client to maximize their budget for the systems they were acquiring. When vendors were brought on board the PMO was responsible for the time tracking, and budgeting and planning and variance analysis for each of those vendor projects.

The PMO also led the client through the creation of key new positions in their internal IT department including the establishment of an application support role which filled the gap between desktop support and the business users who required specific application support on a day to day basis

In a whirlwind of three years’ time, the PMO oversaw over 20 separate systems integrations, and development projects, in every one of the clients 8 separate global entities. During that time the client grew from 100 employees to well over 600 employees and the firm’s assets under management (AUM) grew from $9 billion to $38 billion.

These efforts would be put to the ultimate test when the firm decided to move forward with its plan to go public. With a lot of work from the members of the firm, and the strong support of the PMO and components it had built, the firm did successfully go public.