This project was aimed at resolving challenges in project prioritization and the allocation of resources and budgets within the company’s extensive portfolio of 500 projects. AdvanceWorks developed and implemented tools to facilitate decision-making, streamline reporting, and improve governance across various regions and countries. The tools provided management with greater visibility and control, enabling more informed decisions and better alignment of business objectives with project execution.

Team Collaboration

A dedicated team from AdvanceWorks worked alongside both Business and IT teams to understand the company’s challenges and design a tailored solution. The team leveraged Wrike and Resource Development Office (RDO) technologies to create centralized financial tools that empowered project managers and executives with real-time data and insights to optimize portfolio management.

Goals Achieved

• Save $100M over three years across the pool of 500 projects.
• Create and implement tools to facilitate effective reporting and portfolio governance.
• Support Business and IT teams in managing projects more efficiently.
• Enable faster, data-driven decision-making for management.
• Standardize reporting processes across different regions and countries.
• Establish resources to ensure strong portfolio and program management practices.

Results

The implementation of the financial tools and governance framework helped the company save $100M over three years by improving resource allocation and reducing inefficiencies. The tools facilitated more transparent and standardized reporting across regions, leading to better portfolio oversight and alignment with business objectives. The decision-making process was significantly improved, enabling management to allocate resources more effectively and prioritize high-value projects.

Next Steps

The next phase will focus on continuously refining the tools and processes, incorporating feedback from stakeholders, and ensuring the system can adapt to evolving business needs. Additionally, future initiatives will aim to integrate more advanced analytics and automation into portfolio management to further optimize decision-making and resource utilization.