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Best PMO in Europe 2019 - Triglav Group | FuturePMO 2019

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Best PMO in Europe 2019 - Triglav Group | FuturePMO 2019

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Triglav Group won Best PMO in Europe 2019 in the PMO Global Awards (PMOGA). In this presentation, you can learn more about their journey to winning this prestigious award.

Wellingtone and FuturePMO is the UK Partner for the PMO Global Alliance. The PMO Global Awards take place at FuturePMO on an annual basis. www.FuturePMO.com

Triglav Group won Best PMO in Europe 2019 in the PMO Global Awards (PMOGA). In this presentation, you can learn more about their journey to winning this prestigious award.

Wellingtone and FuturePMO is the UK Partner for the PMO Global Alliance. The PMO Global Awards take place at FuturePMO on an annual basis. www.FuturePMO.com

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Best PMO in Europe 2019 - Triglav Group | FuturePMO 2019

  1. 1. 3 PMO Team Andrej Knap Vice President for IT, Back Office and Projects, PMP M. Sc. in Economics Damir Kos Project Director, PMP, CFE MBA, FELU – Faculty of Economics, University of Ljubljana, B. Sc. in Economics Zoran Korenjak Project Director, PMP, NLP Master BHS Practitioner - BBSHE B. Sc. In Economics Darja Resnik Project Manager Informatics Engineer Tine Vižintin Project Director, PMP B. Sc. in Electrical Engineering Jaka Borštnar Director of Project Portfolio and Change Management Department, PMP MBA, IEDC Bled School of Management, M. Sc. in Computer and Information Science, M. Sc. in Economics Mateja Koželj Project Manager B. Sc. in Economics
  2. 2. 4 The story of Triglav The journey • Personal experience of our journey • Project Implementation cookbook • The art of Project Portfolio Governance Takeaways Our presentation covers
  3. 3. EVERYTHING WILL BE ALRIGHT
  4. 4. 7
  5. 5. 8 Triglav Group is an insurance company with over 118 years of tradition and experience Business / strategic activities founded 1900 companie s39 revenue € 1 B net profit € 85 M market share 20 % rating A employees 5000+
  6. 6. 9 PMO as an engine for strategy implementation To be world-class in project and change management vision mission Delivering high value and satisfaction to the stakeholders key activities • Portfolio, project and change management • Strategy implementation • Representative in PM culture - education, coaching, mentoring • Idea and innovation management • Methodology development positioni ngDirectly under the management board establish ed 2008 size 7 budget 10 M project value 300.000 certified pm5 education 225
  7. 7. 10 PMO evolution leverages an increase in business results 2008 2013 2014 2015 2016 2017 2018 Administrative role Triglav on the edge PMO as a strategic partner Reshaping of the PMO Change and risk management Idea and innovation integration BUSINESSVALUECREATION Methodology upgrade
  8. 8. 11 The story of Triglav The journey • Personal experience of our journey • • Takeaways Our presentation covers
  9. 9. 12 Reshaping of the PMO was needed and selection of the right people was crucial • Identifying skilled, experienced and motivated employees as potential project managers and project team members • Implementation of standards based on the PMBOK® Guide • Implementation of a business case selection methodology • Supervision of projects not managed by PMO members • Tracking the business value realization
  10. 10. 13 Successful completion of demanding projects was crucial to achieve the strategic objectives Projects completed by PMO members Outcomes IT-BUILD-NON-LIFEinformation system(theredesignofthecoresystem) (NON-LIFEinsuranceaccountsfor70%ofincome) Management, processes, organization, and technology Client satisfaction Employees and culture Datawarehouse system Internal portal HRMS Clientrelationship management o Integrated client monitoring o Addressing clients in a more personalized manner o Uniform and comprehensive risk-taking o Unification and automation of processes o Paperless business o Predictive models o Career tracking and employee development o Improved corporate communication o Transformation of the organizational culture
  11. 11. 14 Positive measurable impact on the business Decline is a result of e- documents, renewal of insurance policies, automation of processes, and the internet as a sales channel. In year 2018, operating costs rise because of higher collected premium. The gross written premium increase of 13% over the last three years resulting from process automation and better client handling. Improvement of the loss ratio by 12% during the last three years despite all-natural disasters, such as floods, hail, and storms. Last year's results are also the consequence of the extension of current business. 13% 12% 15%
  12. 12. 15 Business is being transformed into more digital An increase of almost 180% in online sales due to the presence of online insurance products and the automation of underwriting processes. An increase of 20 % in paperless business with clients. Digitalization has an impact on a number of employees. However, despite new acquisitions our productivity is growing. 19%5%forfollowing digital transform ation 30 KPIs
  13. 13. 16 Innovations have become a part of Triglav‘s transformation By using the mobile application Triglav „Drive“, you are entitled to an additional discount if you drive safely. Collaboration with start-ups in order to improve business operations. Clients can test their driving abilities on the Triglav drive simulator. Triglav is organizing hackathons in order to get new innovative ideas.
  14. 14. 17 The PMO is the heart in project portfolio management Strategic and PMO objectives are aligned
  15. 15. 18 The PMO objectives are supporting Triglav‘s mission through the strategic guidelines • Center of excellence for project and change management • Ongoing continues the improvement process • A strategic partner with focus on delivering business value • The idea accelerator from idea to business cases/innovation PMOOBJECTIVES Long-term stable and profitable operations and greater value of Triglav Group STRATEGIC GUIDELINES • Ensuring the innovation process with emphasis on the result measurement • The driver of the idea collection process • Co-creation of project and change management career path for potential PM • An enabler of culture shift to digital-customer oriented Developing even more cooperative and agile organization and culture Client focus and development of related services
  16. 16. 19 The PMO as a center of excellence represents the central professional service for project and change management Managing project portfolios, managing projects, and change managementEXECUTIVE Supervising the implementation of projects and changesCONTROLLING Financial evaluation of projects, evaluation of projects in all their phases in terms of business, and risk criteria ANALYTICAL Providing knowledge from project and change management, sharing knowledge inside and outside of the organization, education, mentoring, and leadership PROFESSIONAL Standardization of project and change management procedures, documents and the introduction of good practices METHODOLOGICAL Support for project managers who are not from the PMO with templates, tools, and techniques ADMINISTRATIVE
  17. 17. 20 The pool of ideas and the selection of the right business cases create value for Triglav • The idea ecosystem is established to get the pool of ideas (Design Thinking, 4 disciplines of Execution) • The perspectives ideas from the business and innovation perspective is accelerated to the state of business case • The capex is allocated to the most promising business cases and innovations
  18. 18. 21 The PMO as an enabler of the cultural shift • Sharing the growth mindset with the emphasis on giving employees the meaning for change • Transformation of leadership practices through our knowledge, mindset, commitment, and decisions based on facts • Incorporating knowledge about project and change management in order to improve overall company performance (Project Management Academy, mentoring, coaching) • Focus on organizational readiness for change with influencing stakeholders
  19. 19. 22 The PMO is strategic partner with the focus on delivering the business value • The PMO is a member of Triglav‘s strategic group, president of project selection committee, member of Project portfolio committee, and member of the CEO committee • PMO prioritization of the projects and resources is aligned with strategic plan. It is harmonized between the executive leaders • Translating strategic goals through effective project execution into day-to-day operations and monitoring the benefits • Collaborating with executives (C-suits) in the phase of collecting business cases to help and prevent overlapping • The added value of the PMO is to exceed the limits of the silos and focus it on strategic goal realization
  20. 20. 23 The story of Triglav The journey • • Project Implementation cookbook • Takeaways Our presentation covers
  21. 21. 24 Standardized project life-cycle and organization as the base for tracking business benefits Standardized project life-cycle for all projects based on PMBOK@ Guide. • Early stakeholder engagement for long-term support • The sponsor is always a member of the board Various combinations of waterfall, iterative and agile methodologies are supported, e.g. Scrum and Kanban. BEST PRACTICES: 1 2 3 4 PMO members are mentors on all projects to support the project manager. • Selecting and negotiating with vendors to optimize resource planning • Combination of methodologies based on project nature and scope 1 • Constantly tracking end-customer feedback and deciding based on facts • Leadership methods and team harmonization 2 3 Focus on transition from project work to operations with the aim to achieve the sustainability of project deliverables 4 5 5 Tracking business benefits one and five years after the completion €€
  22. 22. 25 Program and project portfolio management for achieving common benefits Standardized methodology for achieving common benefit with a set of projects. 1 2 3 4 BEST PRACTICES: 1 • Each project manager is responsible for contribution of the project • Harmonizing of projects execution (resources allocations, setting priorities) 2 3 Holistic Change Management approach4 A single business case for project or program Maximizing benefits to achieve organizational strategies, objectives, and customer satisfaction
  23. 23. 26 1 The PMO as the change management agent ACMP’s Standard for Change Management© Prosci ADKAR® Exact planning of the transition from current state to future state Integrated change management for complex projects or programs. 2 3 4 5 BEST PRACTICES: 1 2 3 4 5 Assessment of culture, processes, and technological readiness for change Identification stakeholders that support the change Full operational support and problem solving during the transition Informing and training stakeholders before the transition
  24. 24. 27 Enterprise standardization of project management brings positive synergy effects
  25. 25. 28 The story of Triglav The journey • • • The art of Project Portfolio Governance Takeaways Our presentation covers
  26. 26. 29 Fully digitalized end-to-end project portfolio management process The implementation of a new project management tool brought many improvements: • Resource management made easier and more transparent for optimal resource allocation • All steps in the project/program management life-cycle are fully supported by the PM tool including all document generation (ex. Project management plan) • Valuable aid for capital expenditures planning • Saving time for project managers with automatic document generation idea management project management resource management requiremen ts planning financial management portfolio management cost & time management dashboard, reporting document generation
  27. 27. 30 Project risk management is a part of the comprehensive system of Triglav Group's risk management Contingency reserve Project portfolio management system Triglav Group's risk management system Lessons learned Monitoring of risks Top three risks: • Delay due to lack of resources • Slow decision making • Inadequately implemented idea, rejection by users Projects Risk evaluation Project management risk report is a part of the general yearly report of the chief risk officer Managerial reserve
  28. 28. 31 Measurable and unmeasurable results of our journey Tracking project KPI success factors: on time, on budget, meeting original goals, satisfaction of stakeholders Tracking key business factors (premium, loss ratio, employment, productivity, NPS) Project selection with defined financial KPI's (NPV, ROI, IRR, PP - company's ROE is key) Tracking digitalization and optimization of processes Project selection with future company's benefits Grow mindset culture – ambassadors of changing organization's culture through leadership and academy Selection of innovations – allocated budget Through lessons learned and post- mortem analysis defining future actions MEASURABLEBENEFITSUNMEASURABLE BENEFITS Risk and change management improvement
  29. 29. 32 • Benefit realization framework ensures us to monitor and govern benefit across the project life cycle • Results from innovation projects are also measured • Post mortem analysis and lessons learned are the base of the project and change management continuous improvement • Focus on transition from project work to operations with the aim to achieve the sustainability of project deliverables Tracking the business benefits after the project completion based on metrics system EBITDA Business case outcome CUSTOMER SATISFACTION Business case outcome Revenue OPEX NPS Benefit realization is measured one and five years after project completion
  30. 30. 33 CAPEX is defined for strategic period with rolling planning • Capital expenditures plan is approved for strategic period and is updated yearly in the beginning of each year based on strategy initiative, new business cases, products and new innovations. • Reserve is defined for unexpected risks, business cases, and innovations. • Operation cost plan is approved at the beginning of the year according to the needs. The costs are divided in salaries (consists of the fixed and variable part - it is based on achieved objectives).
  31. 31. 34 Triglav Group efficiency in the execution of projects is continuously improving Pulse of the Profession 2018: Success in Disruptive Times, 10th Global Project Management Survey, Link: https://www.pmi.org/-/media/pmi/documents/public/pdf/learning/thought-leadership/pulse/pulse-of- the-profession-2018.pdf • Past improvement actions: • Vendor selection before confirming project management plan • Precise risk identification • New resource management • Defining less goals which are clearly defined • Future improvement actions: • Shorter projects, 6 to 12 months • Defining measurable and concrete goals
  32. 32. 35 Evolution of the PMO through continuous process improvement • Inputs analysis, grouping, and selection • Defining initiative for a change • Selecting initiatives based on benefit estimation Project, change, and risk management methodology Lessons learned and post-mortem analysis Employee initiatives Triglav's strategy and objectives Business and technological trends Stakeholder satisfaction survey Committee efficiency assessment Assessment of initiatives implemented last year Updating project and change management methodology Project portfolio Committee improvements Project selection committee improvements Updated Project Management Academy Implementation of relevant international best practices Changes in organization and processes Development of professionalism and expertise through experiences and new business and technology trends INPUTS IMPROVEMENTS
  33. 33. 36 The story of Triglav The journey • Personal experience of our journey • Project Implementation cookbook • The art of Project Portfolio Governance Takeaways Our presentation covers
  34. 34. 37 Switch of the PMO role in the future  Assessment of stakeholder satisfaction and improvement of PMO services  Establishing the idea of the ecosystem to invoke ideas of employees, vendors, and clients  Managing transformational projects of the company (culture shift, digitalization)  Representing a role model for leadership, cooperation ,and execution  Implementing leadership methods with intention to improve employee and business performance  Transformation of innovations into quality services with business outcomes  Sharing knowledge, experience, and best practices through mentoring and the Project Management Academy  Annual revision of corporate methodology, policy, and project templates  Development of professionalism and expertise through experiences and new business and technology trends CONTINUOUS IMPROVEMENT CENTER OF EXCELENCE BUSSINES VALUE MAXIMIZATION
  35. 35. 38 PMO‘s contribution and influence through the eyes of the company The reflection in the company confirms our view and a valuable contribution.
  36. 36. 39 PMO's actions and influence outside company Vendors satisfaction also counts Sharing knowledge with the external society: Speakers at national and international conferences Workshops and sharing knowledge on the events outside the company
  37. 37. 40 Our recipe for a successful PMO  Positioning the PMO on the executive level responsible directly to board members is a precondition for an independent professional service  Structured corporate project management methodology based on recognized standards can be used in a flexible and dynamic way  Trusting and effective working relationships are built with addressing challenges, sharing experiences, and acknowledging achievements in the daily communication  Stakeholder involvement throughout the whole project life-cycle is necessary for successful project execution  PMO can build trust and gain relevance with representing the value of project management based on the exact data, outcomes, and the impact on business  A standardized business case selection methodology is the key to maximize the bussies value  Business outcomes-oriented planning and executing with constant results tracking
  38. 38. Contact Information Jaka Borštnar, Director of Project Portfolio and Change Management Department E-mail: jaka.borstnar@triglav.si

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