2013 - 4th Quarter

The Compass Guide to HCP

By UM Budget

The COMPASS Program continues to be a complex group of projects, but each project is a building block that gets the University closer to its goal of a standard budgeting process.  The next building block of COMPASS, and the final piece of the Hyperion application, is called Human Capital Planning, or HCP.  After implementation, HCP will provide detailed position data which will be the foundation for a series of strategic reports.  Those reports will allow departments to optimize their resources and virtually eliminate the need for the variety of “homegrown” or “side” systems.

Successful projects go through a series of five management stages:  Initiation, Planning, Execution, Monitoring and Controlling, and Closure.  The HCP project team currently is working in the planning stage in an effort to provide training, materials, and support in addition to the technical interactions of HCP with PeopleSoft.  If you are anxious to hear more about the benefits of HCP, how it fits within the strategic vision of COMPASS, and what your individual role will be as a part of implementation and use, plan to attend one of the Strategic Overview sessions being held on every campus between November and January.  In addition, lab training is planned for 2014.  Contact your campus budget officer for additional details.

The project team is looking forward to giving you a map for learning position budgeting as well as a big picture look at what Hyperion will offer the budgeting process in the future.  A lot of work has been accomplished in the University efforts to improve administrative processes as a part of the Operational Excellence Initiative (OEI).  HCP will move the needle of COMPASS even farther.

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