One of the largest advertising conglomerates in the world had discovered reporting irregularities in their financial statements, and was in the midst of an investigation. In order to regain financial integrity and control, the company decided to restate corporate earnings, implement a centralized ERP system, and establish a corporate shared services model across all subsidiaries. Although the initiative had support from an extensive project management structure, the project lacked a framework to effectively manage complex work streams, realize critical milestones, and organize both internal and external resources.
Approach: Think + Do
Understanding we were engaged to bring organization and management disciplines to the project, we began with a thorough appraisal of the company’s existing processes and systems. From that analysis we created a revised project structure, managerial controls, and reporting practices. Highlights of that included our establishing of interdepartmental and project communication strategy, and our creation of complex resource models to determine personnel gaps. We worked with team leads to develop various management models, and we analyzed cross-functional team relationships to understand integration points and communication. Finally we defined a process for management to track the workflow of approvals on deliverables.
The company implemented our recommended project and program management best practices, improving their administration, governance, and leadership abilities. Our resources supported key business needs by participating as co-leads on functional sub-teams, coaching managers on organizational approaches, and providing senior management strategic counsel and guidance. Our efforts contributed to enhanced project execution on deadlines. Overall, the client successfully implemented a global financial system, standardized accounting practices, and realized financial reporting compliance.