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Questions and Answers
What industry does The Accident Fund Insurance Company operate in?
Insurance
What services were provided by PM Solutions to Accident Fund? (Select all that apply)
What was the main challenge faced by The Accident Fund's Office of Innovation and Planning?
Identifying, justifying, and prioritizing projects.
The Accident Fund was ready to implement a PPM tool before addressing their existing process issues.
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Who recommended the establishment of an executive PPM Steering Committee?
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The company managed to reduce the number of projects from 140 to _____ key projects.
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Study Notes
Accident Fund Case Study
- Accident Fund, a leading worker's compensation insurance provider, sought to improve its project portfolio management (PPM) capabilities.
- The company realized the need for a robust PPM system to effectively prioritize projects and utilize resources.
- PM Solutions was brought in as a consultant to assist with PPM tool selection and implementation.
- PM Solutions recognized that Accident Fund's internal processes needed refinement before investing in a PPM tool.
- PM Solutions employed its PPM Maturity and Project Management Maturity Models to develop an improvement roadmap.
- PM Solutions recommended formally chartering the existing strategic planning project management office (PMO) as the organization's project portfolio managing body.
- PM Solutions championed the establishment of an executive PPM Steering Committee to oversee and govern the project portfolio.
- The Steering Committee ensured alignment of projects with the company's overall strategy.
- Through the implementation of these improvements, Accident Fund:
- Identified 140 total projects, initially unaware of almost 70 projects.
- Reduced the number of projects to 40-50 key projects critical to the enterprise.
- Identified the top 10 projects most critical to the business.
- Accident Fund's success stemmed from prioritizing process over tools, ensuring a strong foundation for PPM implementation.
- The company's approach saved significant investment and positioned them for future success.
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Description
Explore the Accident Fund's journey to enhance its project portfolio management capabilities with the support of PM Solutions. This case study details the evaluation of internal processes, the establishment of a PPM Steering Committee, and the development of an improvement roadmap. Discover how strategic alignment and governance play vital roles in effective project management.
