The challenge
How to maximise the chances of project success.
The client had a very successful growth strategy that was creating a pipeline of major projects — but there was no consistent approach to developing and assessing them. The gaps were compounding across the organisation:
- Expanding growth project portfolio. A strong pipeline of major growth projects existed, but without a consistent approach to developing and assessing them, quality and predictability varied widely across assets.
- Inconsistent expectations. Leadership's understanding of pre-approval study outcomes and the resultant level of execution predictability varied — leading to inconsistent expectations and dissatisfaction with actual project performance.
- Centralised decision-making blurred accountability. Ambiguous delegation of authority resulted in all decisions being deferred to executives, causing delay and a loss of ownership at the project level.
Our approach
Establish fit-for-purpose frameworks.
PQ worked with leaders to establish fit-for-purpose investment and project management frameworks, then led the implementation to bring the required level of consistency and rigour across the portfolio.
- Defined an Investment Framework. Covering phases, governance, organisation roles, valuation, and risk/reward factors — responsive to the company's strategy, culture and risk appetite while providing the consistency needed for well-informed investment decisions.
- Defined a Project Management Framework. Spanning project phases, deliverables, quality, controls, governance and reporting — flexible across project types while ensuring information was reliable, accurate, timely and well understood.
- Implemented and facilitated project governance. Established the Investment Management Committee with a clear delegation of authority, and filled the secretariat role to support the implementation and embedding of investment and project management processes and discipline.
The outcomes
A consistent process.
The business now has a consistent process that enables decision makers to influence studies and projects at the optimal time — with increasing confidence that the promised business case will be delivered.
Improved belief in major project value
Major projects at multiple assets progressed through study phases and into execution with leaders having greater confidence in approval requests and the likelihood of success.
More predictable project performance
The most recent projects to enter execution safely achieved production targets within the approved cost and schedule — a material improvement in delivery predictability.
Timely business involvement and influence
The business now has much earlier warnings, greater visibility of issues, and the ability to influence responses — with projects more closely linked to group strategy and ownership shared across the organisation.