Stantec drove value-for-money by establishing a portfolio optimisation approach, focused on delivering MAG’s strategic objectives
As part of a Capital Programme Transformation project, Stantec worked with MAG to review its publications, presentations, messaging to staff and stakeholders to develop an understanding of MAG as a business, its mission and values. From this, we agreed on six Primary Objectives and supporting Key Performance Indicators (KPIs). These were used to assess and prioritise a disparate portfolio of projects, for tracking benefits realisation, as a starting point for MAGs Quality Model and could also be used as a framework for cascading KPIs to Contractors, teams and staff.
Using a 5x5 Risk Scoring Matrix for each Primary Objective, the Likelihood score was determined against a standardised MAG trigger threshold and Consequence was scored using defined Consequence KPIs. This encouraged each risk or issue to be described with its full range of consequences.
The cost of each proposed intervention was also used so that the biggest risks in each Primary Objective could be compared with the best value interventions in each area. This gave MAG the ability to assess its portfolio of projects in several ways to ensure its programme was dealing cost-effectively with its risks in alignment with its mission.
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