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2.1B
managed across 4 years
213
Projects managed
700
FTE per year
About The Project
AMERICA’S LEADING ENERGY PROVIDER can now effectively handle, forecast and budget multi-year projects with over 400 unique named resources.
The Problem
America’s Leading Energy Provider did not have a standardized 'scratch pad' to build project forecasts and estimate costs. This led to inconsistent project estimates as each project used their own formulas and means of calculating project costs. Once projects were executing, these inconsistencies become evident as projects rarely spend according to their original plan.
The Solution
Create a one-stop-shop for project and portfolio financial management while facilitating best in class financial management practices that included: 1.Resource management. 2.Contingency management. 3.Tracking budgets across multiple operating companies. 4.Track Capital and Expense, as well as Business and IT budgets. The PFOT was designed with the flexibility to handle multi-year projects with over 400 unique named resources, without overcomplicating entry requirements so smaller, shorter duration projects will still benefit from its use.
The Result
The Project Financial Operations Tool (PFOT) is an Excel and SharePoint based system that aided America’s Leading Energy Provider project teams in managing finances and resources across a project lifecycle. The Greencastle team developed the PFOT from supporting a single project in 2017 to supporting 100 dedicated users in 2021 managing: 1. 213 projects. 2. $2.1B across 4 years. 3. 700 FTE per year. IT leadership selected PFOT as the standard tool for planning and controlling project finances and resource management. As of 2021, the PFOT provides granular general ledger transaction data, classified and summarized into relevant reporting lines, cross referenced with the project's forecast and annual budget targets across departments, account types, and business units.
