In this case study, we look at how North Highland NH360 to ensure smooth management of project and site activities, aiming to minimize the impact of energy production.
The Remediation Management department of a global oil and gas company, handles the resolution of claims and necessary remediation activities related to energy generation. The team decided to leverage strategic portfolio management to effectively handle multi-year project and site activities, considering financial aspects and key milestones.
We pinpointed project and site activities, translated business processes, and tailored governance to fit a range of activities. This approach gives a complete view of all financials in the context of project and site activities, allowing the client to:
- Align accounting categories and project types monthly, quarterly, and yearly over a 30-year period.
- Snapshot each transaction for governance and reporting purposes.
- Sync actuals across all activities for side-by-side analysis, moving from budget to draft to submitted and approved forecasts.
- Facilitate top-down planning and bottom-up tracking of all financials.
- Simplify complex reporting needs by using modern extract, transform, and loading capabilities through a shared dataset.
Draft and Submitted Forecast: Financials now include multiple currencies and time-phased exchange rates for all countries where project and site activities take place.
Bulk Edit Forecast: Remediation Managers can now swiftly enter or copy and paste updates for multiple projects simultaneously. These updates are loaded into the system, following the same governance logic of submitting and snapshotting forecast values for reporting.