KeyLogic Paves the Way for PBGC Financial System
The Client: KeyLogic was hired by Deloitte Consulting as a subcontractor to manage earned value management (EVM) for its client, the Pension Benefit Guaranty Corp (PBGC). PBGC is a government agency that guarantees pensions, early retirement benefits, survivor’s annuities and disability funds.
The Challenge: Deloitte’s mission was to implement an automated financial system for PBGC. That project had to follow EVM mandates from the Office of Management and Budget (OMB). Deloitte asked KeyLogic to manage the EVM process, freeing itself to focus on the main task. KeyLogic’s challenge was using automated tools to create an EVM system that synched up with a manual reporting system that PBGC had in place and wished to retain.
The Solution: PBGC’s system was based on an array of Excel spreadsheets produced by various project managers. KeyLogic instituted a portfolio and performance management system that allowed PBGC to retain its existing processes. They also distilled thousands of lines of data from the Microsoft Project–based master project plan supplied by Deloitte. Much of that data was exported to Excel for EVM analysis, and that imported information then had to be scrubbed further to flow with PBGC’s spreadsheets. Because of KeyLogic’s help, Deloitte was able to create a corrective action table that reports project variances and suggests process improvements.
The Result: KeyLogic created a master EVM template that both analyzes earned value and tracks project funding and expenditures. In doing so, KeyLogic helped PBGC maintain compliance with OMB mandates. This helps the office avoid government penalties that could forestall projects or halt them all together. Among other results:
- Improved Communication. By bridging the gulf between PBGC’s manual system and Deloitte’s Microsoft Project-based system, KeyLogic facilitated and improved communication between PBGC management and the project’s lead contactor. That helped facilitate completion of the PBGC financial system, which was the projects’ main goal.
- Improved Efficiency. Deloitte did not have to invent a process to report EVM—a task that could have been a major distraction from the main task. KeyLogic’s work helped the lead contractor easily filter through the information it needed to track the project for PBGC’s financial system. In short, KeyLogic enabled Deloitte to utilize earned value information to efficiently manage the financial system development project.
- Improved Documentation. KeyLogic built a documentation process that allowed the lead contractor to show PBGC that its processes were being complied with. It also documented for the client all the steps needed to achieve that compliance.
To learn more about how portfolio management solutions from KeyLogic can help your agency manage EVM, please contact us today at 888.204.9649.