PMI PMO of the Year Finalist 2022: Johnson & Johnson FS&T Project Management Office
Summary
TLDRJohnson & Johnson's Finance, Solutions, and Technology PMO, a finalist for PMI's 2022 PMO of the Year, spearheaded a transformation program to reimagine finance within the company. The initiative aimed at global standardization, digital enhancements, and process simplification. The PMO's success was attributed to a strategic blend of finance and technology professionals, ensuring a single source of truth for financial data. They transitioned from project-based to outcome-based reporting, fostering a business partnership with function leaders and breaking down project silos, positioning the PMO as a continuous source of innovation for Johnson & Johnson's digital finance organization.
Takeaways
- 🏥 Johnson & Johnson's Finance, Solutions, and Technology PMO was a finalist for PMI's PMO of the Year award in 2022.
- 🌟 The PMO aimed to transform finance within Johnson & Johnson by achieving global standardization, enhancing digital capabilities, and simplifying processes.
- 🔄 The company sought to centralize financial data and harmonize business processes to establish a single source of truth.
- 📈 The goal was to shift from retrospective reporting to proactive planning and forecasting.
- 🤝 The PMO's success was attributed to a strategic blend of program and project managers with diverse backgrounds in finance and technology.
- 📊 The team worked closely with the Global Finance Leadership Team to bridge the gap between strategic vision and its execution.
- 👥 Implementation leads were appointed to ensure organizational readiness for the transformation.
- 🔄 The PMO demonstrated agility by adapting its approach and pivoting its journey as needed.
- 📊 Transitioning from project-based to outcome-based reporting was a significant change that helped break down project silos and fostered collaboration.
- 🚀 The PMO is committed to driving business outcomes and operational excellence in Johnson & Johnson's digital finance organization, positioning itself as a continuous source of innovation.
Q & A
What was the main goal of Johnson & Johnson's Finance, Solutions, and Technology PMO?
-The main goal was to reimagine finance within Johnson & Johnson to deliver global standardization, enhanced digital capabilities, and process simplification.
How did Johnson & Johnson address the challenge of being a complex, diverse, and global business?
-They aimed to centralize financial data and harmonize business processes to provide a single source of truth.
What was the shift that Johnson & Johnson's PMO wanted to achieve in their financial reporting?
-They wanted to move from backward-looking reporting to forward-looking planning and forecasting.
How did the PMO blend different backgrounds to create an integrated team?
-They deliberately blended program and project managers with talent from both finance and technology backgrounds.
What was the role of the Global Finance Leadership Team in the PMO's success?
-They partnered with the PMO to close the gap between strategy and its execution, appointing implementation leads on programs to ensure organization readiness.
How did the PMO's approach to reporting change during their journey?
-They pivoted from project-based to outcome-based reporting, which helped them become a true business partner to their function leaders and break project silos.
What was the impact of the PMO's new approach to reporting?
-It was a game changer, allowing the PMO to drive business outcomes and become a source of innovation for Johnson & Johnson's digital finance organization.
What does the PMO's future role entail in terms of driving business outcomes?
-The PMO will continue to drive business outcomes for future releases and the operational side of Johnson & Johnson's digital finance organization.
How did the PMO ensure the integration of business and IT within their team structure?
-By blending program and project managers with finance and technology backgrounds, they created a PMO that truly integrated both business and IT.
What was the significance of the PMO's pivot in their approach to reporting?
-The pivot to outcome-based reporting allowed the PMO to become more aligned with business goals, enhancing their role as a strategic partner within the organization.
How did the PMO's success contribute to Johnson & Johnson's overall transformation program?
-The PMO's success in integrating finance and technology, along with their innovative reporting approach, contributed significantly to the company-wide transformation program by enhancing digital capabilities and process simplification.
Outlines
🏆 Johnson & Johnson's PMO Success Story
The script introduces Johnson & Johnson's Finance, Solutions, and Technology PMO as a finalist for the Project Management Institute's PMO of the Year in 2022. The PMO played a pivotal role in the company's transformation program, aiming to standardize finance globally, enhance digital capabilities, and simplify processes. The challenge was to centralize financial data and harmonize business processes to create a single source of truth, shifting from backward-looking reporting to forward-looking planning and forecasting.
Mindmap
Keywords
💡Project Management Institute (PMI)
💡PMO (Project Management Office)
💡Transformation Program
💡Global Standardization
💡Digital Capabilities
💡Process Simplification
💡Single Source of Truth
💡Forward-Looking Planning and Forecasting
💡Program and Project Managers
💡Implementation Leads
💡Outcome-Based Reporting
💡Innovation
Highlights
Johnson & Johnson's Finance, Solutions, and Technology PMO is a finalist for the 2022 PMO of the Year award.
The PMO aimed to reimagine finance within Johnson & Johnson for global standardization and digital capabilities.
The challenge was to centralize financial data and harmonize business processes for a single source of truth.
The goal was to shift from backward-looking reporting to forward-looking planning and forecasting.
Casting played a significant role in the PMO's success by blending finance and technology talents.
The team understood the importance of strategy execution and structured their team accordingly.
Partnering with the Global Finance Leadership Team was crucial for strategy and execution alignment.
Implementation leads were appointed to ensure organization readiness for program execution.
The PMO's pivot in their journey and the new approach to reporting created significant value for the organization.
Transitioning from project-based to outcome-based reporting was a key change for the PMO.
This shift helped the PMO become a true business partner and break down project silos.
Innovation is considered a continuous journey rather than a destination for the financial solutions and technology PMO.
The PMO will continue to drive business outcomes and be a source of innovation for Johnson & Johnson's digital finance organization.
The PMO's success is attributed to its ability to integrate business and IT, creating a cohesive team.
The PMO's approach to team structuring and partnering with leadership ensured the gap between strategy and execution was closed.
The PMO's innovative reporting methods have been a game changer, enhancing its role as a business partner.
The PMO's focus on outcomes rather than projects has helped to break down silos and improve collaboration.
Transcripts
(air whooshing) (upbeat music)
- [Narrator] Welcome 2022's project heroes.
The Project Management Institute's PMO of the Year Finalist.
Johnson & Johnson's Finance, Solutions, and Technology PMO.
(air whooshing)
(bright techno music)
- As part of a company-wide transformation program,
we wanted to fundamentally reimagine finance
within Johnson & Johnson to deliver global standardization,
enhanced digital capabilities,
and process simplification for our organization.
- We are a complex, diverse, and global business.
So our challenge was to centralize financial data
and harmonize business processes
to give us a single source of truth.
We wanted to move from backward-looking reporting
to forward-looking planning and forecasting.
- [Narrator] Casting played a big role in the PMO's success.
- We deliberately blended program
and project managers with talent from both finance
and technology backgrounds to create a PMO
that really integrated both business and IT.
- Strategy doesn't go wrong, execution does.
The Johnson & Johnson team really understood this
in the way they structured their team.
- We partnered with the Global Finance Leadership Team
to close the gap between the strategy they bought into
and its execution.
They appointed implementation leads
on programs to ensure organization readiness.
- It's impressive the way the PMO pivoted on their journey
and the value of a new approach to reporting
has created for the organization.
- Moving from project-based
to outcome-based reporting was a game changer.
It's helped us become a true business partner
to our function leaders
and break the project silos.
- [Narrator] Innovation is of course a journey,
not a destination.
- The financial solutions
and technology PMO will drive the business outcomes
for future releases as well as the operational side
of Johnson & Johnson's digital finance organization
and continue to be the source of innovation for us.
(bright techno music)
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