A large multi-national outsourcing firm sought the ability to accurately and completely report on key financial metrics concerning project profitability.
Innovar Collective was enlisted to lead and deliver on the design, development, implementation of a new Work In Progress (WIP) tool to provide accurate decision making information specific to individual project contribution margin. WIP would be used by throughout the organiztion including IT, Finance, Business Development and Program Management.
Innovar Collective effectively worked with Finance, Accounting, Information Systems, Network, and the Project Management Office to gain acceptance for the purpose, design, and testing of the WIP tool. WIP provided the critical financial data required by the company to begin the process of determining how to drive more profitable and efficient projects. The tool exceeded expectations by enabling project managers more complete access to data needed to more effectively manage their projects in multiple areas beyond profitability. Innovar Collective was responsible for:
- Strategic leadership
- Project management – business side
- Project management – technical design
- Financial reporting and metric creation
- Q&A testing
Proven Innovar Collective Differentiators on Margin Improvement Engagement:
Cross-functional Integration – the engagement required that multiple functional areas with different goals and objectives for the tool come to agreement. Innovar Collective delivered an unbias, neutral party leadership and delivery style to achieve concensus.
Cost Effective – Innovar Collective fees were significantly less than Tier 1 advisory firms with a more experienced team.
Financial & Operational Experience – The ability to blend strong project financial understanding along with deep experience on the project operations side enabled a rapid delivery of a successful outcome.