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Stanlib - PMO Global Award Regional Winner - Africa- 2018 - FuturePMO 2018

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Stanlib - PMO Global Award Regional Winner - Africa- 2018 - FuturePMO 2018

  1. 1. Cape Town, South Africa Presenter: Charlene Strydom Implementing Agile Governance
  2. 2. Overview
  3. 3. Liberty Overview • Liberty Holdings Limited is a Pan-African financial services company • The third largest life insurer in South Africa. • Liberty Holdings is 54% owned by the Standard Bank Group, the largest African bank by total assets. • Wholly owned subsidiary, StanLib, is the second largest investment manager in South Africa. • Represented in 16 African countries • Liberty Holding’s vision: “to be the trusted leader in insurance and investment in Africa and chosen markets”
  4. 4. Context for Transformation • In 2016, formation of a Group Investment Platform (GIP) Strategic Competency Unit (Platform SCU) – inline with the 2020 vision • An Investment Platform – a digital service (made up of IT and operational business processes) that allows financial advisers to manage their clients' financial investment portfolio • GIP PMO – support major transformation • GIP and its PMO was formed as a new, separate functioning “start-up business” - dedicated to GIP • We seek to have a different delivery process – being more Agile • PMO is integral to the business change process.
  5. 5. Transformation Timeline
  6. 6. Transformation Timeline High Level Timeline
  7. 7. Building Blocks • The building blocks were selected and implemented based on the value of “digital-first”. • PMO Type: the PMO is to be a supportive and strategic function • New business/PMO principles: set of principles aligned to the strategic objectives, developed with executives • PMO Processes: that support agile principles and thus strategic objectives • Best practices and methodologies: based on current global industry standards and trends • Culture: supportive, collaborative, team orientated, flexible and adaptable • PMO Collaboration tools and methods: real-time, cloud-based, collaborative • Vendors and business partners: selected based on their ability to align with our principles, objectives, methodologies and adoption of Collaboration methods and tools • Tools to form part of the culture and thus by using the tools would also encourage the culture
  8. 8. PMO Principles • May 2016 - Job descriptions were defined and first recruitments started • Principles of bringing the right people with the right skills and right mind-set together. • Initially the PMO implementation was driven by the Chief Operation Officer (COO) and CEO with the support of the Head of PMO • Showing partnership, commitment and handholding from the executives • PMO oversight and governance was given to the Head of PMO, with the support and lead from the COO
  9. 9. Agile Onboarding • Stakeholders and executives understood what the principle of “being agile” was and thus aligned the PMO accordingly • Within GIP, “Being agile” principles included: • Agile is a “state of being”. • all team members are trained to understand the Agile principles and accepted digital practices within GIP • Periodic “refreshers” • Continuous commitment from stakeholders to change management (focused on change)
  10. 10. PMO Structure
  11. 11. PMO Structure
  12. 12. Delivery Vs Governance • Project team, respects and relies on the PMO for advice, guidance and correct standards • PMO manages the financial payment and reconciliation of the Statement of work, budget and actuals of the entire business unit • The PMO implements all the governance that surrounds the team • The PMO and COO work very closely together, to ensure that the PMO office functions optimally.
  13. 13. PMO Objectives
  14. 14. PMO Mission 1. To enable business success by ensuring that the projects and programmes are aligned with the strategic vision of Liberty Holding Group. 2. Programmes and projects are delivered predictably and consistent with best practices
  15. 15. Strategic Alignment • Align the PMO milestones with the strategic milestones • Ensure that the business has accurate and suitable oversight of the projects by providing them with short and concise information that highlights the critical areas • Ensure that the PMO reports and gives feedback on the matters that are of essence and are critical to the business.
  16. 16. Resources and Project Team Resources are the core of the PMO and it is thus imperative that the PMO: • Recruits the right people, with the right knowledge, skills, mindset and Emotional Intelligence • Ensures that the team and individuals are driving change and that they are aligned and committed to the PMO culture • Continuous consulting, mentoring and coaching of the resources
  17. 17. Implementing Best Practices • Ensure that the standards and frameworks • Define the project delivery life cycle and accepted methodologies • Regularly reassess and audit • The PMO is the single source of truth • Implementing methods, dashboards, templates • Define and implement metrics • Embed the tools, standards and best-practices • Define consistent procedures and processes
  18. 18. Risk Management • Define risk tolerances, escalations and risk treatment strategies • Reduce project risks • Manage and monitor all the Risks, actions, issue, decisions and lessons learnt logs • Clear accountability and ownership of risks.
  19. 19. Results
  20. 20. Executive Value PMO • Change the way the business and executives viewed a PMO • Assisting the executives to make correct decisions. • Executives understand and supports the believe that removing unnecessary processes and red-tape • Influencing, creating awareness and excitement in the current existing Liberty Holdings S • Gaining much needed credibility by Liberty Holdings group
  21. 21. Culture • Having an agreed set of principles • Creating a culture and environment that allows and encourages fast, frequent feedback allowing for faster changes and cleared decision making. • Being able to use the lessons learnt from the first project to improve the methods, and standards for the next project currently underway.
  22. 22. Tools and Processes • Implemented tools that support culture and principles • Implementing proper budget and finance structures • Digital, real-time dashboards, reports and documents
  23. 23. Next Steps
  24. 24. PMO Next steps • Transitioning the current business culture to the new PMO culture • Continue the transition and improvement of the tools • Maintain the standards, methodologies and process within the PMO • Improving vendor selection process

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