Projects

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Problem Statement

In 2018, CVS project managers took the lead in the CVS/Aetna migration. A senior project manager was designated for each workstream to oversee the merger activities between the two companies, scheduled to merge post day-one approval. The Medicare and Medicaid workstreams of CVS, pertaining to government projects, were notably delayed for various reasons. Recognizing the challenges, Aetna senior leadership sought project assistance. To rectify the setbacks and adhere to the project timeline, CVS enlisted the help of a consultant.  

Purpose

During the merger process, CVS made efforts to meet deadlines and implement strategies to achieve this goal. Fast tracking deliverables from three workstreams was necessary to recover the project schedule. CVS and Aetna executives aimed to introduce a new project management approach to enhance communication and coordination between them.

Custom Solutions & Actions Taken

Christopher, a senior project leader, provided guidance and support to the CVS workstreams, collaborating with the CVS and Aetna leadership teams to achieve the following:

• Implementation of a new project management method that emphasizes each executive's deliverables and deadlines.

• Creation of a tri-view of deliverables in each workstream's executive scorecard, highlighting past due deliverables, deliverables due in the current week, and those due in the next two weeks.

• Prediction and communication of schedule and process-oriented bottlenecks two to four weeks in advance.

• Recovery and delivery of each workstream’s past due deliverables, with fast-tracked upcoming deliverables to ensure each workstream is two weeks ahead.

• Enhancement of senior leaders' ability to balance daily work and merger activities.

• Completion of each workstream’s project plan four weeks prior to unified operations.

Conclusion

The project management strategies devised by Christopher for CVS, derived from top industry standards, significantly contributed to its merger and acquisition with Aetna. Alongside enhanced executive collaboration, these strategies facilitated smoother day-to-day management of CVS project tasks and reinstated confidence in the project leadership team following a period of doubt. This achievement allowed both companies' leaders to fulfill their goals and enjoy an extended break before diving into business on the first day.