Overview
As part of the broader ‘NEXT’ transformation initiative, Mirvac sought to enhance its Forecasting and Valuations capabilities to support long-term asset cashflow forecasting across its diversified property portfolio.
The program aimed to modernise and optimise Mirvac’s 10-year forecast and valuation processes by implementing MRI-IM and Anaplan platforms. Elwyn Consulting was engaged to provide process and solution oversight, as well as direct project management leadership for this critical transformation.
Challenge
Managing a diverse property portfolio with varied lease structures and billing models presented significant challenges. Mirvac needed to harmonise existing processes, which involved reconciling a substantial volume of lease data, including historical billing transactions, clauses, rent reviews, guarantees, and renewal terms.
Additionally, transitioning to new systems and defining a future-state reporting model that met operational, management, and strategic data needs required precision and scalability.
Solution
Elwyn applied a business process-led design approach to ensure the program’s success, which included:
- Providing decisive leadership in project management and governance, ensuring adherence to scope and timelines.
- Shaping the system design to optimise data flow, reporting, and process activity across MRI-IM and Anaplan platforms.
- Overseeing the development of nine key interfaces to ensure seamless data flow between leasing systems and the forecasting platform.
- Managing the migration of complex forecast models and associated data with accuracy to ensure continuity and validation.
- Driving cross-functional alignment and challenging traditional approaches to unlock improved forecasting outcomes.
Elwyn’s meticulous approach ensured that all functional and technical requirements were met while maintaining a focus on operational risk mitigation.
Outcome
The program was successfully delivered, with over 100 forecast models built, tested, and validated without material variances. This was a significant achievement given the complexity of data sources and the long-range nature of the forecasts.
The implementation of MRI-IM and Anaplan established a modern, integrated platform that supports Mirvac’s diverse operations and ownership structures. The result was improved accuracy, transparency, and process efficiency.
Elwyn’s leadership was instrumental in fostering collaboration across business, finance, and IT teams, ensuring the solution met both functional and strategic business needs.
