IT programme back on track

IT transformation icon Re-energising a troubled IT Transformation for innovation and growth

 

Peru's commitment

One of Ireland’s leading general insurance companies was struggling to progress a multi-million Euro IT change programme.  Completion would deliver more innovative products to new and existing customers, as well as expanding its online direct insurance business.

Peru committed to re-focus and re-energise the main programme to ensure the large investment already made delivered all of the expected benefits.  Peru’s Transformation leaders undertook a rapid, rigorous analysis of the key issues, risks and hurdles that needed to be overcome to complete the transformation. Our focus was to help the company recognise the scope and scale of change it could handle, while gain stakeholders’ recognition of the underlying causes of the Programme’s delay.

The substance

Knowing we had a specific understanding of their business, the company called on Peru’s transformation expertise to address its IT Programme challenges and lead the recovery. This meant:

  • A rapid, but rigorous, analysis of the key issues, risks and hurdles that needed to be overcome to complete the transformation.
  • Gaining company-wide support to understand and address the underlying causes of programme delay.
  • Re-setting the Programme Plan milestones to focus on development requirements and create a new Solution Roadmap that was agreed by all stakeholders.
  • Embedding a suite of programme controls and ‘accelerators’ to boost the project pace and meet the targeted ‘go-live’ date.
  • Establishing a ‘Design Hub’ that reviewed all software development requirements and provided detailed systems design to be signed-off by the business before implementation
  • Working closely with the main IT supplier to improve processes and gain better value from licencing and support arrangements.

The outcomes

The Programme was recovered and set on a new track to hit the strategic targets, while protecting the initial investment and re-focusing the implementation team. The spending rate on software development for the remainder of the programme was reduced by 25%. This was achieved by recommending a reduction in product variants and consolidating project workstreams with improved programme governance.  This avoided wasting design time by ensuring stronger validation of business requirements.

The final outcome was the successful delivery of the first two major releases of the IT Transformation Programme delivered on time, under budget and with the full support of a newly energised and enthused business.

THE PERU REPORT ON RETAIL BANKING IT

Turn to Face the Change is a survey of 100 senior banking IT leaders and 1,000 UK consumers, highlighting the pressures facing the traditional retail banking sector from customer expectations and agile competition.

For your downloadable version of this 'must read' research, CLICK HERE...