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LAFAYETTE FEDERAL CREDIT UNION

Louder Co. consultants work with business leaders across the country to overcome challenges, uncover opportunities, and enhance productivity. The success stories of our clients cover a range of industry sectors and diverse operational strategies.

Louder Co. consulting case studies are a window into how a community of solvers combine the strengths of people and technology to deliver profitable, and sustainable outcomes.

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Case Study

Develop a Project Management Office (PMO) To Improve Project Performance and Organizational Efficiency

Client: Lafayette Federal Credit Union
Industry: Financial Services
Our Role: Establish a PMO to employ a company-wide method of project management, as well as to reinforce the monitoring and governing of projects in line with key corporate goals
Services: Process Design, Process Improvement, Training, and Change Management

The Challenge

 
In today's fast-paced business environment, many organizations struggle with the absence of a standardized process for project intake, leading to inefficiencies, misaligned priorities, and missed opportunities. Without a clear framework, projects can often be initiated haphazardly, lacking the strategic alignment and resource allocation necessary for success. So how can a company create a unified project management strategy that supports corporate goals? This was the challenge for our client, Lafayette Federal Credit Union (LFCU), a recognized industry leader in the Northeast, celebrated by S&P Global and Newsweek for its excellence in providing financial services.
 
As a member-focused, service-driven organization, LFCU set out to design and implement a PMO that serves as a centralized hub for project management excellence. They teamed up with Louder Co. to strategically develop and implement their PMO so teams are empowered to optimize resource utilization, improve decision-making, and deliver projects with precision and consistency.

 

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The Solution

 
Louder Co. conducted an in-depth evaluation of LFCU's current project management processes, thoroughly assessing communication practices and workflow efficiencies to identify both strengths and areas for improvement. After gaining a deep understanding of the client's current processes, Louder Co. developed a PMO governed through a stage gate process, creating templates for standardized project documentation beginning with a project charter. A project charter is an important document that defines the high-level objectives, scope, decision making processes, and stakeholders involved in a project. This foundational document not only guides project execution but also serves as a reference point to maintain focus, manage expectations, and drive successful outcomes throughout the project lifecycle.
 
Once LFCU's Project Management Office was established, Louder Co. developed and implemented a tailored training program for key stakeholders. The goal was to ensure that the newly centralized team—tasked with maintaining project management practices, processes, and standards—was fully equipped to successfully launch and lead the department. The training introduced essential components, including PMO roles and responsibilities, comprehensive governance frameworks, and detailed templates for each phase of the Stage Gate Process, providing the foundation for consistent and effective project management across the organization. The training not only facilitated a smooth transition but also empowered the team to drive long-term success within the newly structured project management framework.
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The Results

  • Designed and implemented a new PMO for decisions, accountability, and execution of future initiatives for attaining strategic goals
  • Optimized strategic decision-making processes for resource allocation and project selections
  • Increased project visibility driven by improved project reporting for increased accountability.
  • Completed company-wide training to onboard stakeholders
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