EDF Benefits Management enables £30 million savings
"I was impressed with BMT’s systematic, evidence based process which quantified the benefits of a complex, interrelated set of projects. This provided clarity thus enabling us to prioritise work more appropriately across the portfolio." - Brian Harris, Lifetime Programmes
What benefits did we deliver?
- We enabled EDF to prioritise their investment and take a conscious strategic decision of alternative action. This resulted in a saving of £30m, thus reducing pressure on the annual investment portfolio
- We also enabled a targeted, evidence-based investment decision making through objective benefits profiling across the portfolio along with a stakeholder endorsed system model
- EDF gained an understanding of how to manage its whole portfolio, as opposed to stand-alone projects and programmes
- A systematic, independent and auditable approach to benefits management removed optimism bias and double counting to ensure consistency across the portfolio
- Sustainable benefits management capability delivered through skills and knowledge transfer, workshops and stakeholder engagement
What was the challenge?
For only the third time in 30 years of operation, EDF needed to change the fuel for its fleet of seven Advanced Gas-cooled Reactor stations. There were a series of projects and programmes being undertaken to limit any related fuel related risks during the changeover. However, there was a need for stakeholders to understand the business context and viability behind each one to enable informed decision making by the client as to the best way to target their limited investment.
What was our solution?
The HQS team used a combination of best practice System Engineering (SE), Programme, Portfolio and Project Management (P3M) and Benefits Realisation techniques to identify and model benefits via a ‘bottom-up’ approach.
We provided EDF with a complete set of deliverables, including:
- A logical System Model;
- A logical Benefits Map;
- Benefits profiling tool to model scenarios and support what-if analyses;
- Documented, stakeholder endorsed data and assumptions created from workshops with key EDF members of staff;
- A collection of recommendations for the EDF Board on best value mitigations across the portfolio;
- Recommendations on the financial viability of a number of projects via a cost-benefit analysis.