Risk Management for Major Energy Project
This project was conducted for a branch of a Victorian Government body involved in large-scale energy projects. Their role involves settlements, financial forecasts, energy market analysis, and reporting of energy and financial data related to the division’s projects.
Business Problem
This Government branch administers Government support agreements with large-scale energy projects. The branch’s financial and accounting risk management was exposed to significant risk without a tactical or strategic system in place as payments were already being processed to existing projects.
Project Objectives
Empower the Government body to effectively manage significant financial and accounting risk exposure.
Add value to data captured through the body’s management of large-scale, long-term, renewable energy contracts.
Leverage existing Government Enterprise data warehouse systems to integrate and support the project’s additional reporting and analytics requirements.
Establish data source connectivity and visualisations for the body’s business data in the Government Tableau server.
Provide a pathway for other Government bodies and projects interested in improving data insights through similar technology and projects.
Approach & Solution
The solution was to support the development of tailored data visualisation and analytics capability as extensions to existing Government Enterprise systems. We designed and developed a data warehouse and automated reports that deliver sustainable, robust, and auditable management systems.
This fostered the provision of a centralised unit and efficient reporting and accounting information. The warehouse interfaces with existing departmental-level business management systems (most notably Oracle).
The solution is intended to be leveraged by contract administrators and business managers for:
Managing incoming & outgoing project payments
Managing program budgeting
Enhancing efficiency & accuracy of financial reporting
Business Benefits
Real-time visibility of projects budget & finance information for energy projects.
Efficient reporting and accounting information.
Ability to utilise preferred reporting software.
Increased employee efficiency when it comes to generating insights and improving operations.
Improved oversight over organisational KPIs and monitoring of operations and business usage on the platform.
Customised visualisation and reporting dashboards.