Pensions Project Management

How will you deliver a successful pensions project?

Pensions projects are complex. There will be multiple stakeholders, workstreams and advisers. It can be a drain on your time and resources to keep track of progress and manage such a project. If your project isn’t carefully planned and managed, then it could fail to meet its objectives, resulting in wasted time and costs.

Our Prince 2 qualified project managers have experience of the full range of pensions projects. Using a pensions specialist to manage your project means that your project manager has a clear understanding of what you are trying to achieve. We know what can cause your project to fail and have the experience to ensure that your project has a successful outcome.

Why do you need a project manager?

The value you are trying to derive from a project is maximised by having a project manager.

Our clients often have limited capacity and are under pressure to complete a project within a fixed timescale in order to maximise the value, for example:

  • To deliver a reduction in pension costs before the end of the accounting year, or
  • To complete a pensions risk transaction before an insurer’s price lock expires

We provide a project manager to:

  • Manage and save costs – We will monitor progress, ensure efficient processes, appropriate resources and control the scope of the work to ensure the project meets budget and cost constraints.
  • Manage deadlines – We carefully plan a project from the outset, liaising with all parties to ensure the deadline are achievable. Throughout the project, we monitor progress and to make sure that the project is on track.
  • Manage risk – Our experienced pensions project managers know what can go wrong and how to avoid this. We identify and manage risks throughout the process.

What do you need to run a successful project?

Clear roles and responsibilities

We take the time to set up a clear governance structure at the start of the project. Everyone should be clear on their role, what is expected of them and where they fit in.

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Collaboration

We work closely with you and your advisers, building strong relationships and trust. We work together with all parties and get their buy-in to achieve the required objectives of the project.

We tailor our approach depending on the parties involved. For example, some people need more interaction than others.

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Quality project plan

A good project plan is essential. We work with the range of specialists involved in the project to understand all of the steps necessary to complete the work, to determine realistic and achievable timescales, the dependencies and the critical path.

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Good communication

We have close regular contact with you throughout the project and we have frequent interaction with all parties involved, particularly during busy periods. We ensure that all parties are dealing with consistent information. Where appropriate, we keep all parties briefed on the bigger picture, as this helps people to feel more engaged. The project manager acts as a single point of contact to direct queries to the right place.

We encourage open communication. Our project managers are good listeners, have empathy and provide challenge where necessary. We get to the root of any problems that arise.

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Strong controls

Our project managers put in place clear controls and processes in order to monitor progress, budgets, resources, risks and issues.

At any point in the project we will know how each part is progressing and what needs to happen next. We can provide you with regular reports and updates to enable you to oversee the project without you getting involved in every detail.

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Experienced team

Our project managers are Prince 2 qualified and have years of experience of managing pensions projects. We have established tools and plans for a range of different types of pension project. We understand the range of different stakeholders and advisers involved.

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A digital approach

Using a cloud-based platform to gain oversight of your project, you will be able to view the latest version of the project tools, such as project plans, actions log, risk tracker.

 

 

Accessibility

You will be able to log on at any time, on any device and view the status of your project in real time at a time and in a level of detail that suits you.

 

Collaboration

All parties involved in your project can have access to ensure everyone is working from the same source of information.

 

Tailored to you

We can create dashboards and tools tailored for you, you can have all the information you need and in the way you want it.

How can we help?

  • Standalone service – We can provide a single project manager, or a project management team to run your project.
  • Light touch service – We can provide support with the initial planning of your project. For example, we could put together a project plan, carry out a risk analysis and set up a structure for you to run the project yourself.
  • Rescue service – If your project is running into trouble, we can get involved quickly to put it back on the right track.
  • Integrated service – We can provide a project manager as part of the PwC adviser team.

Contact us

Lindsay Smith

Lindsay Smith

Pensions Project Manager, PwC United Kingdom

Tel: +44 (0)7808 799 389

Rachael Nurennabi

Rachael Nurennabi

Pensions Project Manager, PwC United Kingdom

Tel: +44 (0)7525 281251

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