Bank of Brazil



Banco Central do Brasil is Brazil’s highest financial authority.  Its mission is to ensure the stability of the currency’s purchasing power and a solid, efficient financial system for Brazil’s economic stability and sustainable development.

Business goals: Banco Central goals include supervision, regulation and organisation of the national financial system and the formulation of monetary, foreign exchange and credit policies.  Its technology goals centre on defining and managing programs and projects to support overarching strategic goals.

 The Business Challenges

So how can the Central Bank intervene to protect its citizens? It requires a massive social intervention on a country of this vast size. Through the British Embassy and the UK Foreign and Commonwealth Office, the Central Bank was able to access expertise in programme management through pearcemayfield, a UK-based consultancy. Patrick Mayfield, CEO of pearcemayfield, was deeply involved in the shaping of the Managing Successful Programmes (MSP®) framework. Along with another director, Richard Rose, Patrick has helped the Central Bank learn, adapt and tailor this framework. This allows the Bank to achieve step changes in internal bank performance as well as social transformation, such as the financial literacy programme.

Bruno Peres de Agular, Head of Division in the Planning, Budgeting and Management Department, and his team have incorporated progressive programme management practices as a major contribution to their internal methods. These step changes can now be achieved in a practicable and feasible manner.

For example, regarding stakeholder engagement in the financial literacy programme, it became evident that a key stakeholder was the local school. If financial literacy aimed to strengthen through future generations then the Bank had to involve schools. This one of many examples of a stakeholder strategy where the key becomes influencing through one key stakeholder to another.

The Outcome

According to Bruno Peres de Agular, the transition management element of MSP with its emphasis on stakeholder engagement and change management, has been a particularly powerful addition to their project management capability.

However, it is the focus on benefit realisation that has been particularly relevant for this public agency which is, after all, accountable for the regulation of its financial markets. Now, whenever an initiative is proposed, the Bank insists on active business case management. This means 1) that the business now includes all the transition and benefit realisation costs, 2) it requires each programme to consider the wider range of stakeholders involved in any longer-term transformation, and 3) this business case is periodically reviewed for its continuing viability.

Continuous scrutiny of any business case by the Bank is now providing a more robust, and confident approach in its volatile and uncertain world. This project, which ended in March 2015, had to deliver a Program Management Course to be offered to Brazilian government agencies and was a complete success.


Alfredo de Barros Pereira: “We had the opportunity to present to members of more than 20 government agencies, the Central Bank’s programme management methodology, adapted to the MSP as the knowledge that you have given us in for the two projects.

“We want to note that the participation of PearceMayfield on this agreement was extremely enriching and very possible to raise the level of maturity of the central bank on managing programmes, putting our Corporate PMO as a benchmarking on the subject in Brazil.

“Thank you for dedication and expertise you have demonstrated in all contacts with us”. Alfredo de Barros Pereira




Bank of Brazil

15 August, 2017


Babcock International

15 August, 2017