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Outsourced project controls for Finance re-platform

A large finance sector organisation had embarked on a major and complex project for their lending platform requiring skilled capacity to supplement the existing project team and ensure appropriate management control within the project.


Project Controls are the data gathering, data management and analytical processes used to predict, understand, and constructively influence the time and cost outcomes of a project.  Controls are essential across all stages of a project lifecycle enabling analysis of overall project performance. Project controls management is a generic function and is not industry specific, therefore it can be readily outsourced to skilled controllers. Given the temporary nature of projects, this presents an alternative for organisations who do not wish to invest in internal capacity.


A large NSW finance sector organisation had embarked on a major and complex project for their lending platform to improve the online user-experience and remain competitive.

Immersed in an extremely high workload managing multiple internal and external delivery teams, the Project Manager could not sufficiently maintain good project management practice.  To address the resource constraints and improve project control, they enlisted external skills using a managed service.


myP3 tailored a ‘Delivery Support as-a-Service’ offering consisting of utilising myP3 expert project controllers. The objective was to provide required skilled capacity to supplement the existing project team and ensure appropriate management control within the project.

The key areas of focus of the service were to work within the client’s delivery framework to maintain schedules, project control registers and provide administration to better enable the project success.


myP3’s as-a-Service scope was across the breadth of control activities required to ensure project information was accurately tracked and maintained with up-to-date information.  Upon commencement, the client elected a progressive handover of their control responsibilities based on priorities.  The agreed approach was for myP3 to investigate the current state of all project information and recommend a plan that would see full transition to myP3 over several weeks.

myP3 then performed a review and identified gaps in controls registers record-keeping that required historic update.  Given the supporting evidence available elsewhere on project files, the RAIDD (risks, actions, issues, decisions, dependencies) and deliverable products registers were made first priorities. Following our updates to these records, we implemented processes to ensure ongoing maintenance and provide quality improvements.  Delivery support services included:

  • Project RAIDD Registers Administration – shared at daily standups and updated weekly across the project team for all open records, ensuring momentum was maintained to action and close relevant items. We also flagged the key actions expected by the Governance Board for progress reporting at their next meeting.
  • Project Deliverables & Documents Coordination – Performed initial peer review of outputs against quality criteria, administered review and approval cycle inclusive of reminders and overdue escalations, maintained products register updates, and performed status accounting. Improvements included establishment of a document hierarchy, product tagging for cross-verification to schedules and hyperlinks to document locations.

During myP3’s assessment of the project schedule, we identified it was comprised of several streams. Each required attention to demonstrate granular consistency, alignment to project stages and product outputs, and task status updates.  This activity was completed in consultation with project team leads and solution vendors and resulted in a fully-fledged schedule complete with critical path.  Delivery support services included:

  • Project Schedule Maintenance – developed and adjusted schedules through facilitated weekly updates with project stakeholders to update progress and assess impacts from delays and interdependencies. myP3 also corrected issues, refined forecasts, and identified delivery variances with suggested schedule adjustments.

The project’s financial information was considered to be in good order. Delivery support services included:

  • Project Financial Maintenance – Ensured up-to-date capture of information for budget vs actuals performance. Provided reforecasts of estimates to complete the project following schedule changes and provided options analysis support.

The quality of project status reporting improved due to its data-driven sources of key project controls being brought rapidly up to standard through myP3’s activities.  Delivery support services included:

  • Project Status Report Coordination – Generated the draft weekly status report with provision of commentary on rationale for RAG (red / amber / green) indicators as evidenced from the project’s financials, schedule, and controls. Distributed the draft report to the project manager and team leads for feedback prior to finalisation.

With services well-embedded in project controls maintenance, myP3’s attention turned to support the project’s meetings. Delivery support services included:

  • Governance Secretariat & Meeting Coordination – Prepared the draft and final Project Board Meeting agendas, meeting packs, submissions and minutes. Administered and attended project team regular and ad-hoc meetings, and performed assigned actions.

myP3’s engagement duration was over 18-months through to successful closure of Phase 1 of the Project.  The client’s future phases were planned to commence after a stabilisation period to embed the newly delivered capability across the business.


The project was governed by timely decisions based on data-driven, up-to-date and evidence-based information to achieve project success.

Key project personnel were able to invest their time and effort in delivery and stakeholder management with the assurance that controls were robustly attended to in the background.

Practices acquired from the myP3 engagement were adopted by the client, enabling future PMO improvements for coordination and support of complex projects.

Delivery Services
Loans Application Upgrade
Banking / Financial Service

Copyright © 2020 myP3 | All rights reserved

Copyright © 2020 myP3 | All rights reserved