Two large-scale IT projects operating without adequate control mechanisms
An IT service provider for a service group developed two strategic software modules with a focus on AI and digitalization. After years of development, the budget had been exceeded and the project ran over schedule. Without a controlling department or adequate cost control, there was a complete lack of transparency.
Undefined responsibilities coupled with significant communication gaps
The biggest challenges lay in project accountability and breakdown in communication channels: decisions were made without the IT subsidiary. A lack of direct communication between developers and users delayed important modifications. In addition, there was no cost control or transparency regarding the project status.
Setting strategic goals to ensure transparent structures
The interim CFO focused on three key levers: creating transparency by manually researching all project costs and service providers, introducing control mechanisms with monthly reporting and forecasts for the executive board, and establishing various tools for controlling and expense tracking.
From chaos to clarity
The interim CFO successfully implemented the planned strategy: Through manual cost preparation, monthly reporting, and digital tools, he not only created a transparent controlling structure, but also real-time data for the executive board, optimized service provider management, and a three-year budget.
