Wachovia

Situation

Wachovia Financial (now part of Wells Fargo), was a large financial institution with over 4,000 facilities. Many their branch roofing systems were nearing the end of their useful lives. A capital improvement project was at hand. They had experienced a round of replacements, prior to inRevo2 getting involved, and from all accounts it was a terrible experience. Expensive, disorganized, chaotic, were terms used to describe the work and management processes. More specifically, they felt the competitive bidding process was “fixed”. They felt there were too many layers of management involved (consultants, contractors, manufacturers) driving up the cost and they felt that contractors were not sensitive to the specific needs of retail banking. The work had to be performed as quickly as possible, outside of retail hours and special clearance was required for roof access to banks. In addition, each community has separate guidelines for managing to local labor (union vs non-union) requirements.

In other words, there was much more to managing their capital replacement needs then just lining up a few bidders and picking the lowest price.