Company Overview: Company A has hired your team because you are experts in defining a process and deliver

Company Overview:

• Company A has hired your team because you are experts in defining a process and delivering projects on time.  Company A has only been in business for ten years, and they have experienced a large turnover in the project management area;which has prompted senior leadership to investigate.  
• Senior leadership has determined that Project Managers are frustrated with the amount of required documentation, which has impacted their ability to successfully manage projects.  In addition, project budgets are coming in over budget, and projects are being delivered late, also resulting in PMs' inability to meet performance guidelines. 
• A recent review of the current process has determined that Company A has spent between 30-40% of its total project budget on projects' overhead costs to include project management costs, which are typically between 20-25%.  Project Management overhead includes the PM's time to manage the project, attend meetings, and develop the required documentation.   
• Company A has hired your team to create a new project management process to meet the strategic goals and ensure the project meets the financial objectives.
  • Goals of the new process
    • The company must have a view into total life cycle project costs to include what has been spent to date, baseline budget, any changes to the budget, remaining budget, and cost of the project at completion
    • The company must have a view into the project activities to include what has been completed, what is remaining
    • The company must have a view into project status issues, risks, any changes to dates