Life Insurance IT & PMO Operating Model and Roadmap
In collaboration with Practicus, this Life Insurance company produced an IT & PMO transformation roadmap to drive change, increase project delivery capability and enable engagement.
Following a period of much change and strong growth, the business sought an approach to optimise its IT & PMO function. A review had identified a number of barriers to successful project delivery, such as an unclear structure, technical capability gaps and an inconsistent approach to project delivery. Our client looked to Practicus to lead optimisation. This included preparing an executive report to help the Executive Committee understand how these issues could be overcome and the function matured.
Practicus used a bespoke maturity assessment and heat mapping tool to assess the function’s current state. A series of stakeholder interviews and workshops were conducted as part of the assessment and then used to develop a prioritised list of actions.To meet the current and future needs of the business, Practicus recommended a service focussed Target Operating Model (TOM) that could scale and flex to service the business as it grows. It would also position IT & PMO as an enabler for its business strategy rather than an order-taker. This was used as the basis for a maturity assessment and related roadmap which identified high priority activities that would help specific areas of the function reach an optimised state in six, 12 and 24 months.
Practicus’s report and roadmap was well received by the CIO who then presented it to the Executive Committee. The IT & PMO function was then re-branded as Business Technology Services and the required change and improvements are being driven through.Once complete, the transformation will generate significant benefits, including stronger business engagement, enhanced skills and an increased capability to deliver projects for the business.