Client
A leading global banking organisation – Enterprise Change & Transformation Division of Macquarie Bank.
Challenge
The bank had reached Level 3 (Defined) in the P3M3 maturity model, with consistent governance and functioning PMOs. However, the organisation struggled with:
- Fragmented project and portfolio data across business units.
- Reactive decision-making lacking predictive insights.
- Limited use of quantitative KPIs and balanced scorecards.
- Inconsistent integrated reporting and planning tools.
The goal was to evolve into a data-driven, quantitatively managed organisation (Level 4) capable of predictive governance, proactive decision-making, and measurable performance improvement across its change portfolio.
Our Approach
We partnered with the client to design and implement a structured Level 4 maturity roadmap over an 18-month transformation journey.
Phase 1: Diagnostic Assessment (Months 1–3)
Conducted maturity workshops, stakeholder surveys, and baseline KPI analysis (CPI, SPI, BRI) to identify key gaps and create the enterprise maturity dashboard.
Phase 2: Design & Governance Framework (Months 4–6)
Developed a comprehensive P3M3 Governance Playbook, including a quantitative data taxonomy, benefits tracking framework, and risk heatmaps aligned with business goals.
Phase 3: Implementation & Capability Enablement (Months 7–12)
Deployed integrated reporting dashboards, consolidated financial, risk, and benefits data, and delivered structured training to PMs and PMOs to drive adoption.
Phase 4: Enterprise Integration (Months 13–15)
Institutionalized Level 4 practices across the enterprise portfolio, embedding predictive analysis, benefits realisation scorecards, and automated governance reviews.
Phase 5: Continuous Improvement (Months 16–18)
Established a sustainability model through internal audits, refresher training, governance forums, and preparation for external validation and certification.
Key Enablers
- Executive Sponsorship: CIO/COO-led steering committee for strategic alignment.
- PMO Analytics Lab: Dedicated hub for performance dashboards and forecasting.
- Data Governance Board: Ensured accuracy and quality of portfolio data.
- Capability Academy: Continuous learning and leadership development in P3 analytics.
- Change Management Strategy: Proactive communication and stakeholder engagement to ensure adoption and culture shift.
Results & Impact
- Achieved P3M3 Level 4 “Managed” maturity certification within 18 months.
- Implemented real-time enterprise P3M3 performance dashboards, enabling evidence-based decisions.
- Improved benefits realisation rates to 85%+ and governance compliance to 95%+.
- Established a data-driven performance culture across business units.
- Enhanced regulatory compliance, risk transparency, and delivery predictability.
- Recognised as an industry benchmark for enterprise governance transformation.
Future Vision
The bank is now progressing toward P3M3 Level 5 (Optimised) by integrating AI-enabled forecasting, continuous improvement loops, and customer-centric innovation into its portfolio governance framework.