$34B Financial Services & Insurance Company
Anticipating a 40% increase in customer volume in 2007 (due largely to the acquisition of another company), Synaptix Systems’ $34B financial services & insurance client needed to mature its IT Portfolio Management processes and tools, with a view toward devoting its limited resources to the top priority programs/projects. The company did have a Program Management Office (PMO) in place with considerable Project Management and Business/Systems Analysis resources, but was missing an executive-level view into its project portfolio’s performance along financial, scheduling and scope lines. Additionally, the client lacked an efficient and effective mechanism for prioritizing potential and in-progress projects.
Synaptix Systems partnered with the client’s leadership team to develop and implement a refined Portfolio Management capability that would address these business challenges. By clearly defining the desired metrics, key performance indicators (KPIs) and reports to enable portfolio-based decision-making, Synaptix Systems was able to help the client establish a foundation from which to identify gaps in current PMO processes and systems. The team then performed a gap analysis against portfolio management products available in the marketplace and identified a best-fit solution. The client’s management team also relied on Synaptix Systems to assist with implementation of the system and with providing key Program/Project Management and Analysis resources on an ongoing basis.
Synaptix Systems’ client forecasts an aggregate return on IT project investment of 30+% for projects in the 2007 portfolio, an ROI supported by the company’s ability to better and more proactively manage the project portfolio.