Turning Vision into Value - SPM
A financial services firm used a portfolio management platform to bridge the strategy-execution gap, increasing project alignment by 75% and reducing project delays by 20%.
Challenges
A global financial services firm struggled with a disconnect between its strategic vision and project execution. Siloed departments, a lack of consistent prioritization, and manual processes for managing demand resulted in a portfolio of misaligned projects. This led to inefficient resource allocation and a failure to deliver on key business objectives.
Objectives
The organization aimed to align all projects with strategic business goals, gain real-time visibility into its entire portfolio, and optimize resource allocation to ensure every investment delivered maximum value.
Solution Implemented
A centralized Strategic Portfolio Management (SPM) platform was deployed to create a single source of truth for all projects and resources. The solution included tools for strategic planning, demand prioritization based on business value, and dynamic resource allocation to optimize team assignments across both Agile and Waterfall methodologies.
Outcomes
The implementation led to significant improvements in portfolio performance. Strategic alignment of projects increased by 75%, and resource utilization was optimized, leading to a 20% reduction in project delays. Real-time dashboards provided actionable insights, enabling leadership to make faster, data-driven decisions and ensure every initiative contributed directly to business success.
Conclusion
The deployment of ServiceNow SPM transformed the organization’s approach to project management, bridging the critical gap between strategy and execution. This provided a foundation for continuous improvement, ensuring all efforts and investments were focused on driving strategic business outcomes.
