2. Project Charter
• Business need: The State of TN is conducting a
thorough analysis of the performance of investment
funds that contain state funds utilized for pension
payments.
• Solutions: Measure rates of return earned on various
segments of the Program’s portfolio that are in
accordance with proper investment practices and
methodologies, conduct a benchmarked study,
provide a best practice solutions for TN.
3. Constraints
• As a consequence of a bench-marked study, consulting personnel
may not have sufficient access to external data and information
found in publications, reports, journals, and information from key
municipal directors and personnel.
• State budgets may not be sufficient to drive project to completion
• Employee turnover may severely impact the project. If a particular
employee with key information resigns, quits, is fired, etc., it may
be difficult to gather enough data to accomplish the bench-marked
study or investment portfolio analysis
• Improper scheduling of events, meetings, and deadlines may alter
or truncate the normal flow of project routines
4. Interested Parties and Stakeholders
• Michael Brakebill, State of TN Chief Investment
Officer
• Bill Haslem, Governor of TN
• Christopher Smith, CEO of TCG
• TN State Council on Pensions and Insurance
• State Treasurer
• TN State Board Retirement members
• Council on Pension and Insurance committee
• Board of Trustees of the Tennessee Consolidated
Retirement System
5. Work Breakdown Structure
• To complete this project for TN, a hypothetical
consulting company, Tennessee Consulting
Group (TCG), with fictitious personnel, will be
contracted to perform the necessary analyses
and provide a best practices portfolio. Here
are the names of TCG personnel:
– Christopher Smith
– Patricia Johnson
– Jake Williams
6. Christopher Smith
• TCG CEO
• Will present at each meeting
• Will provide performance metrics to all interested
parties
• Will meet on a consistent basis with Mr. Brakebill and
when necessary, Governor Bill Haslem.
7. Patricia Johnson
• Administrative Manager
• Proofread all documents prior to submittal
• Attend all meetings with Mr. Smith and take careful
notes
8. Jake Williams
• Research Consultant
• Will be in charge of researching internal and external
data for establishing best practices report that will be
utilized in providing recommendations for better
management of TCRS portfolios
9. Activity List
Initial meeting to analyze current State
investment plan and fund allocations
November 23rd, 2015
Meeting to discuss project expectations November 30th, 2015
Develop bench-mark framework December 2nd, 2015
Analyze and synthesize bench mark
information
December 16th, 2015
Regulatory oversight December 17th, 2015
Consultative services for the State December 18th, 2015
Follow up and tweaking of
recommendations
March 21st, 2016
Final meeting March 28th, 2016
10. Project Network Diagram
• Start
– Analyze current investment plan and fund allocation 5 days
– Discuss expectations of project 2 days
– Develop bench-mark organization and framework 10 days
– Fill in key indicators and bench mark information 25 days
– Ensuring all practices are done with GAAP and GASB regulations
1 day
– Feedback reports 2 days
– Determining proper approach and plan of attack for State
investment plan and allocation practices 90 days
– Follow up and tweaking of implementation strategies 5 days
• End
11. Communication Plan
• Key information to discuss is as follows:
– Deadlines for project updates and completion
– Clear budget limit
– Who will be privy to confidential information
– Who will participate in the project
– What state governments the State of TN would like
TCG to correspond with
– What deliverables will be expected to be achieved
– Who will be included in various meetings
– Outline additional stakeholders as needed
12. Risk Mitigation Strategy
• (This portion of my RFP is several pages long.
If you have any questions in detail, send me a
message on the discussions page.)
• Various risks associated with:
– Political risks
– Employee/staff/personnel risks
– Communication risks
– Budgetary risks
13. Project Evaluation and Criteria
Checklist
• Conduct analyses to determine if post-
contract Total Assets are being actively
managed and are within acceptable risk
limitations according to the TCRS’s primary
investment objective.
• Proper adherence to laws and regulations
must be maintained during the course of the
project, as outlined in verbiage from the RFP
as described.
14. Project Evaluation and Criteria
Checklist cont’d…
• As a gauge for successful completion of the
project, the Chief Investment Officer will be
responsible for implementing sound
recommendations.
• TCG will follow-up with the State to ensure
that the project has been satisfactorily
completed and that recommendations are
being implemented correctly.
