Overview
In an ambitious engagement with Verisk Analytics/ISO, our consultancy was called upon to establish a Project Management Office (PMO) while refining the existing processes of project prioritization and governance. Over a span of six months, Kaeppel meticulously organized a sprawling portfolio of 250 projects, instituted robust governance through a steering committee, and imparted PMO practices training across the organization.
Areas of Strategic Focus
PMO Establishment: Recognizing the need for structured project management, our goal was to stand up a PMO that would serve as the nexus of project coordination and execution for Verisk Analytics/ISO.
Project Governance & Prioritization: Instituting a clear and efficient governance mechanism, along with robust project prioritization, was identified as a linchpin for optimizing resource allocation and ensuring the alignment of projects with organizational goals.
Organizational Training: Ensuring the sustenance and success of the PMO and its processes demanded comprehensive training across the organization, imparting best practices and ensuring a cohesive approach.
Challenge
Managing a vast portfolio of 250 projects, each with its unique demands and stakeholders, and instilling a culture of structured project management across Verisk Analytics/ISO posed significant challenges. The imperative was not just to organize, but to prioritize, ensuring that projects of strategic importance received the attention and resources they warranted.
Strategic Approach
Drawing from a suite of tools, including Project Prioritization Criteria, Steering Committees, Program Sponsors, Project Sponsor Training, and an efficient Project Intake Process, we crafted a strategic roadmap. Through meticulous Design and Build phases, our focus was sharpened on the Top 10 Projects, ensuring they received the requisite support. Additionally, we established a Steering Committee with Governance at the Senior Vice President level, further solidifying the project management framework.
Impact & Outcome
Our engagement culminated in a transformative outcome for Verisk Analytics/ISO. With a newly minted Intake and prioritization process in place, coupled with robust governance mechanisms, the organization now boasts a streamlined project portfolio. The results speak for themselves: projects are executed with greater precision, resources are optimally allocated, and feedback from the client confirms a heightened level of satisfaction.