With the project portfolio, Fingrid can manage all its investment and refurbishment projects, as well as major maintenance. The portfolio includes completed, ongoing and possible future projects.
The content of the portfolio is prepared by Fingrid, and is used by, for example, project portfolio managers, grid planners and project managers in their work, throughout the life cycle of a project. Information about projects is also directly available for management. At management level, it is now easier to monitor project progress and to form a real-time overall picture in the company of ongoing and future investments.
With regard to financial management, the project portfolio includes all investment costs to the level of individual invoices, and serves as a primary budgeting tool. From the project portfolio, information is automatically transferred at row level to the company’s financial systems, and this enables the approval process for payment instalments and invoices to become more efficient. The project portfolio also includes planned investment costs 10-15 years into the future, so the development of grid value in the coming years can be forecast.
Since the project portfolio contains all significant work from the planning stage all the way to investments and maintenance, it gives the possibility for efficient optimisation of work resources and costs. The occasional dependency on a specific person of planning and project management work will be reduced, since information is located centrally in one application. In the same way, centralisation of information to one application increased the real-time quality of information when everyone is working with the same information.
In terms of reporting, ELVIS brings more diversity to the creation of reports. Thanks to the centralisation of information, it is easier to find and more easily utilisable by users.
The above-mentioned function is being handled by Oracle products.
Tuomas Maasalo, Development Manager, tel. +358 (0)30 395 5183
Jari Tiusanen, Project Manager, tel. +358 (0)30 395 5146