Services – European Power Company
European Power Company
This organisation tried to manage the strategic budgeting process within a project management tool and failed due to the simple fact that project management and financial management are two decidedly different disciplines.
The project tool could not cope with the raft of financial data or the complex financial calculations analysis required.
A set of OPPM forms were designed by the joint project team and after much socialisation an agreement was reached. Data was spread across multiple tabs, as multiple people and processes might be responsible for adding data, i.e. risk data was added by the risk department into the risk tab, feasibility data and analysis was added by the analytical team and so forth.
Each specialist section collaborated by adding their expertise to an proposed budgeted item, at the same time, thereby reducing the time to collect data, increasing the accuracy and removing hundreds of dummy records from the project management system.