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Financial Management

The financial benefits of Corporate Vision come as a result of improving the following processes:

• Resource Supply Planning
• Portfolio Planning
• Time Recording and Charging

For example, improvements in efficiency include:

• Programme/Project office staff may do a lot of the administration work for Project Managers to support their input into their projects functions. Because Corporate Vision is an easy to use tool for all planners, the Project Managers and Resource Managers will be able to maintain their own resource demand plans as part of their normal duties
• The Portfolio Planners are able to extract information and model within Corporate Vision without the need to request additional resource information from Project Managers via separate spreadsheets. Less time collection, consolidating, correcting errors
• Corporate Vision can replace many individual spreadsheets currently maintained by programme offices. The Programme Offices will still need to be involved in supporting the whole planning process, but less people should be needed to do so
• The removal of local time recording tools / spreadsheets, the associated consolidation, manipulation, data quality checking and corrections has resulted in reduced effort and headcount associated with this activity
• Increased accuracy of Management Information, thus supporting decision making and more confident and predictable project delivery
• Quicker production of Management Information, helping to reduce process turnaround time
• Greater accuracy in allocating skilled resource, thus encouraging managers to free up resource
• Greater visibility of processes and data, thus allowing decision making to be closer to the need, rather than centralised
• The ability to support priority changes quickly and effectively
• Increase in staff motivation - more chance of getting right people on the right job