Large Professional Services Engineering Company Battles Project Overruns
OEi’s successes represent meaningful, measurable, sustainable results that have enabled our clients to achieve their goals and objectives. The examples below have been selected to represent the widest cross-section of needs and applications.
challenge
A mid-sized contract engineering firm hired by prominent companies across a broad range of industries to design cutting edge products on their behalf, was considered to have a world class Project Management approach. When it was identified that the firm lost millions of dollars each year due to projects coming in over budget, after deadlines and/or failing to meet contracted project goals, leadership knew immediate action was needed.
solution
The following steps were planned and implemented as part of a customized solution for meeting the Challenge described above:
- Defined and documented a highly flexible PM process adaptable to a wide range of project types and needs.
- Created project performance metrics which aligned project financial results with corporate performance.
- Instituted new project review and governance structure.
- Coached and mentored project managers to elevate their capabilities.
- Drove IT strategy and successful implementation of a new ERP system, which included integrated project management tools.
- Realigned PM resources and capabilities.
results
PM Function Goes From Good to Great!
Below are shown some of the key benefits the organization experienced as a result of this work:
- Decreased PMO resources by 20% and increased the value of projects managed by 36%.
- Improved organizational profitability by 25%.
- Doubled revenues from the firm’s largest customer in one year.
- Significantly upgraded the overall PMO talent pool while reducing relative salary costs.
- Received Small Business Excellence Award.