Management of a Portfolio of Logistics Improvement Projects
Description of Project:
Our client, the European Logistics organisation of a global Petrochemical company, was seeking $45m net savings from rationalisation and delivery of a portfolio of 100 projects over three year period. Chaucer had previously successfully assisted this client on a similar exercise and was invited to remain with the team to continue their support for the new objectives.
The portfolio of projects was extremely diverse both geographically and in discipline and subject, for example including major logistics platform reviews and procurement initiatives. The client Logistics leadership team had several objectives: clear reporting and visibility on all projects and targets, risks, issues and deliverables, not only for their own assurance, but for reporting to the senior company management; identification of interdependencies; elimination of double counting.
Managing the breadth of the activity over an extended time frame was a major challenge and Chaucer was asked additionally to support key activities in order to enhance open dialogue and communication. Our tailored approach was to generate project momentum by focusing on ongoing identification of a series of savings achieved through delivery of a succession of strategic improvements.
Chaucer’s Scope:
- Capture of the project information required to support the project controls. This included identification of scope, deliverables, action owners, resources, dependencies, timings, Issues & Risks
- Provide a delivery assurance structure and tracking, in particular for financial allocation of savings across the multi year plan
- Provide robust, detailed reporting to the senior company leadership team and Logistics Leadership team on a monthly and quarterly basis
- Organise and support the Team Leaders regular project progress meetings
- Provide Project Management support and advice to the Delivery Team Leaders
- Facilitation of key meetings and Away Days including running cross function and global participation sessions over two days for 60 delegates
Benefits:
The Logistics team successfully delivered above their financial target. Chaucer’s focus on robust, verifiable data collection and analysis led to clear reporting and our thorough methodology avoided double counting benefits. This assurance ensured that the Logistics Leadership team could demonstrate their hard work had delivered significant results.
Chaucer’s capability in working with high level sponsors, diverse cultures in disparate locations helped ensure ongoing contribution from all parties over a long period of delivery. Additionally, in order to satisfy the drive for further savings, Chaucer introduced a methodology to examine the extension of appropriate projects and the introduction of new ones into a ‘Savings Pipeline’.
The Logistics team were identified as best in class within the company by the senior leadership for its reporting and governance assurance which was based entirely on Chaucer’s work.
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