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Banking and Finance Project Management

AIPM IRC Bibliography 29th March, 2005 ____________________________________________________________


Introduction: Project management is becoming more and more widely used in the Banking, Finance, and general financial services (eg Insurance) sectors. This selection of recent articles looks at case studies of many different projects, best practice methodologies, and who is doing what both within the sector here and overseas, and compared to other sectors. 1. Williams, T. Identifying the hard lessons from projects - easily. International Journal of Project Management 22(4), 273-279. 2004. Keywords: Lessons learned; project post-mortems; financial services. Abstract: Learning lessons from projects is important, but the practice of project post-mortems does not occur frequently in practice. Recent work suggests that one reason for this might be the difficulty in identifying the hard, non-intuitive lessons from projects, such as those resulting from feedback and dynamic systemic effects (which are difficult to discern intuitively and can greatly exacerbate initially small effects). However, while there are bodies of work to explain such effects, what are needed are simple, practical analysis methods that can be used routinely in post-project reviews to explicate how the project turn-out resulted and to identify the lessons which need to be learned. This paper reports a postproject review in NCR Financial Solutions Group, as an example of using just such simple techniques. It describes the procedures used, outlines the results found and discusses when and where such techniques might add value. Finally, it points the way ahead to more wide-ranging research in this field, to enable managers to identify the real lessons from the projects, including the hard lessons, but practically and easily. This paper will hopefully contribute to managers ability to learn from projects. Chauduri, T. and Schlotzhauer, D. So many projects, so little time. Successful high-volume, multi-location projects require unique planning and control methods. PM Network 17(10), 54-61. 2003. Keywords: Project management - methodology. Abstract: This article profiles a one-year project by the Canadian Imperial Bank of Commerce (CIBC) to transform 20,000 workstations at 1,200 branch banks. In addition to using the accepted best practices, the bank's project management team used a planning methodology with three iterative cycles: Approach and Strategy, Process Design, and Detailed Job Procedures. Risks were mitigated by defining gates from phase-to-phase and obtaining sign-off by stakeholders, as well as through the use of checks and balances built into every process. Effective schedule and management control enabled the accommodation of scope changes during the year-long deployment. In a survey of branches following the CIBC deployment, 88 percent expressed satisfaction, thanks to meticulous project planning. Cooke Davies T.J. and Arzymanow A. The maturity of project management in different industries - An investigation into variations between project management models. International Journal of Project Management 21(6), 471-478. 2003. Keywords: maturity; inter-industry comparison; management by projects; leadership. Abstract: This paper presents the results of an investigation into the nature and extent of variations between project management practices in six industries. The investigation had the practical purpose of supporting a group of pharmaceutical R&D organisations in their search for an optimum project management model. A total of 10 domains were identified using qualitative methods and these formed the basis for a programme of 31 in-depth interviews with knowledgeable project management practitioners in 21 organisations drawn from the six industries. Each interview elicited a quantitative assessment of the practices relating the domain, using pre-determined scales, and qualitative comments on the practices based on the experiences of the interviewee. Differences between companies and industries were found to exist in each domain. The most highly developed project management models (which might be said to equate to measure of project management maturity) were found in the petrochemical and defence industries, which on average scored highly on most dimensions. Other industries, (pharmaceutical, R&D, construction, telecommunications, financial services), displayed some interesting differences in different domains, but did not display the coherence or scores of the two leading industries. Finley, M. Bank in a Box: Financial services portal projects can devour enormous resources and still come up short. Here's how to make the right e-project choices the first time. PM Network 17(6), 44-49. 2003. Keywords: financial services industry; IT; information technology; internet; e-commerce. Abstract: With the growth of the Internet in recent years, financial institutions have been scrambling to get their businesses online. This article examines some of the issues and problems surrounding the creation of financial portals, and offers suggestions on managing e-projects more efficiently. Banks should focus on the needs of their customers, and pay special attention to the requirements phrase in order to avoid the biggest pitfall in creating online products: poorly defined deliverables. Mapping financial product development to the project management process will increase the likelihood that projects will meet their intended business objectives. Among other important issues to consider are the expectations of people within the organizational culture, legal and regulatory hurdles, security and privacy, and how the various business processes interrelate. Reiss, Geoff. Smooth operator. Project 15(10), 14-15. 2003. Keywords: finance; change management; IT; information technology. Abstract: Fortis Bank Belgium has successfully completed the migration an integration of hundreds of systems involving thousands of staff and contractors on the exact date announced in the original plan. This was one of the most successful programmes of change in the world of finance in recent years.

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Brooks, Andrew. Space: the financial frontier. Project 15(10), 20-21. 2003. Keywords: finance; change management; IT; information technology; culture; virtual teams. Abstract: Creating a virtual space linking all Barclay Bank's project communities at home and overseas was the challenge for Barclays Solutions. This article explains how it was achieved. Atkinson, Alan. Culture shock. Project 15(10), 17-18. 2003. Keywords: finance; change management; IT; information technology. Abstract: For several years, Lloyds TSB Group has been developing project and programme management within the business in response to the drive for change. This article outlines how this is being achieved. Ferraro, J. P. Begin With the End Before embarking on business process automation, this financial services provider examined its business needs, focused on process steps and mapped a clear course. PM Network 17(2), 46-51. 2003. Keywords: rate of return; business enterprises; computer networks; case studies. Abstract: This article examines the National City Mortgage (NCM) as they pursued automating its business process technology. However, before beginning the process, NCM realized that they were faced with numerous challenges. Therefore, they first examined their business needs, focused on process steps and developed a plan that assured project success. Finley, M. Money in the Bank. Financial services executives who invest in project management strategies realize the benefits. PM Network 16(11), 30-33. 2002. Keywords: finance; financial services industry. Abstract: In the past ten years project management has become integral to many financial services firms (banks, insurance companies, and investment houses). The business climate demands aligning projects with strategic planning methods. One such method, Basel Capital Accord, is aimed at mitigating risks for financial institutions. The financial services industry is an intangible industry with invisible products so seeing the need for project management has been more difficult than for other industries.

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10. Chen, X. Close Coordination When working with a multi-organizational team, managers must effectively balance interests, maintain favorable communication channels and motivate members. PM Network 16(10), 64-68. 2002. Keywords: team development; cross functional teams; project communications and management; People's Bank of China. Abstract: Information technology projects frequently rely on multi-organizational teams. This presents unique challenges to the project manager who is responsible for balancing interests, maintaining favorable communication channels, and motivating members. The People's Bank of China dealt with many of these issues as they designed and tested the Bank Credit Registration Consultation System, which was then installed in over 300 cities. Despite the conflicts associated with incorporating team members from several organizations, the project staff was able to complete this massive undertaking on time. Includes illustrative matter. 11. Bucero, A. Seamless Transitions: Managing Change on Difficult Projects. PM Network 16(3), 24-29. 2002. Keywords: Organisational change - management; Banking; Finance; Information Systems; Information Technology; IT. Abstract: Caja Granada, a banking company in Spain, was chosen to implement a new banking technology, "Alhambra," an internal information systems project. Key to the project was a successful change management process including process ownership. Five factors were credited for project success: upper management sponsorship, link between project and corporate strategy, a quality management plan, communication planning and deployment, and encouragement of the end user. Hewlett-Packard (HP) Consulting led organizational acceptance through project management processes. Key elements to guiding the technology implementation and change effort were leadership, testing, recognition, and follow-up. 12. Parkes, S. Ringing in the Euro. PM Network 16(2), 20. 2002. Keywords: Banking; Finance; Euro; IT; Informatioon Technology; Europe. Abstract: As one of the most ambitious projects ever undertaken, the introduction of the Euro will have profound social and commercial impact around the world. Looks at the headaches encountered by Europe's IT Project Managers in introducing such a change to the monetary system for much of Europe. 13. Webb S, David G, Peterson C, Oliver M. Basel II and the impact on financial IT project risk management. PMI Seminars and Symposium Proceedings 2002; 2002 Oct. 3-2002 Oct. 10; AIPM (CDRom). USA: PMI; 2002. Keywords: project risk management; financial services industry - management; IT; information technology. Abstract: Project risk management professionals are just now becoming aware of the profound impact that revisions to a decade old minimum-capital requirements accord issued by the Bank for International Settlements will have on tomorrow's project risk management for financial institutions' information technology projects. It is clear that the new accord offers greater incentives (through lower regulatory capital calculations) to adopt sophisticated risk management approaches, which will require the implementation of mature project risk management disciplines. Learn more about the effects of the Basel Accord to operation risk requirements, risk management practices, and its impact to project management for financial institutions. 14. Warrillow N. Delivering strategic change through projects: a UK bank's quest for world-class performance. PMI Seminars and Symposium Proceedings 2002; 2002 Oct. 3-2002 Oct. 10; AIPM (CDRom). USA: PMI; 2002. Keywords: financial services industry; Lloyds Bank. Abstract: Lloyds TSB uses project management to deliver its corporate strategies. This paper outlines the broad range of activities, which this major UK bank has undertaken to improve its ability to deliver change through projects. The paper highlights the approach taken, and provides examples of the pitfalls encountered along the way.

15. Utendorf M. Euro projects: Unproductive investment or a chance to make PM more professional? - a success story. 16th IPMA World Congress on Project Management, Berlin 2002; 2002 June 4-2002 June 6; AIPM. IPMA; 2002. Keywords: finance; case studies. Call Number: CON 39 Abstract: The example of three successfully implemented euro projects in the insurance sector shows how functioning, professional project management can be put into practice even those kinds of major project, i.e. unproductive for insurers in terms of corporate policy. The important stage of project completion is also dealt with. Using the wide-ranging project scope, a variety of experiences were collated here and transferred for further projects. 16. McCall-Peat C. Case study - establishing a project office in a financial services organisation. PMI Seminars and Symposium Proceedings 2002; 2002 Oct. 3-2002 Oct. 10; AIPM (CDRom). USA: PMI; 2002. Keywords: project management office - case studies; PMO; financial services industry - South Africa. Abstract: Many companies are establishing project offices as a means of gaining control over the project portfolio and ensuring that accurate management information is provided on the portfolio. This case study describes how a project office was established, the issues that had to be dealt with and the successes and failures to date. It will be beneficial to anyone who has a project office or is considering establishing one, as it will alert you to the possible pitfalls and issues to consider. 17. Leybourne S. The project management of change within United Kingdom financial services: What about improvisation? Frontiers of Project Management Research and Application: Proceedings of PMI Research Conference 2002; 2002 July 14-2002 July 17; AIPM . USA: PMI; 2002. Keywords: change management; finance. Call Number: CON 40 Abstract: For some years now there has been an growing interest in the use of improvisation - driven by time-paced pressures - within organizations, a movement intensifying in the 1990s as faster cycle times and more innovative solutions became important. This paper is an attempt to codify and formalize the use of improvisation in the financial services industry. 18. Jerala S, Schoenichen V. Supporting project leaders within an IT department of a financial service company - a little success story powered by partnership. 16th IPMA World Congress on Project Management, Berlin 2002; 2002 June 4-2002 June 6; AIPM. IPMA; 2002. Keywords: finance; IT; information technology; project leadership. Call Number: CON 39 Notes: PowerPoint Presentation. 19. Heinonen A. The major challenges of Euro Cash Changeover project. 16th IPMA World Congress on Project Management, Berlin 2002; 2002 June 4-2002 June 6; AIPM. IPMA; 2002. Keywords: finance; banking; Euro changeover; Germany; case study. Call Number: CON 39 Notes: PowerPoint Presentation. Abstract: Outlines the challenging project undertaken to successfully make the change to the new European currency in Germany. 20. Gray, T. Customers Come First. If giving customers what they want and need is your priority, how can you focus on achieving your company's own project goals? Here's how it's done in the financial services sector. PM Network 15(12), 38-41. 2001. Keywords: Customer Service; Stakeholders; IT; Banking; Finance. Abstract: Virtually every team working on service projects has at least one challenge in common: how to keep up with customers whose technology-driven demands just won't sit still. In a wired environment, companies find themselves constantly pushed to expand access to data and power to offer services, day or night, wherever consumers may be. Rapidfire service projects often span several major corporate functions, including IT, marketing, legal and customer service. Amid all this, project managers must apply basic methods - setting boundaries, defining and supporting process, managing risk while making sure the customer stays paramount. Project Managers should consider key points to help ensure a quality deliverable to the financial customer. 21. Bank grows its own change managers. Project 2001;13(9):24-5. Keywords: Training; Education; Professional Development; Change Management; Banking; Finance. Abstract: Case study of Lloyds TSB and their change management programme. 22. Kwak YH, Dewan S. Risk management in international development projects. PMI Seminars and Symposium Proceedings 2001; 2001 Nov. 1-2001 Nov. 10; AIPM (CDRom). USA: PMI; 2001. Keywords: international development; risk management. Abstract: International Development Project Management refers to development projects funded by the international development financial institutions such as World Bank Group, Asian Development Bank, African Development Bank, European Bank for Reconstruction and Development (EBRD), and the United Nations Development Program (UNDP). International development projects are discovered in the public and private sectors in developing countries. The main focus of these projects is on poverty reduction and improving living standards of people in the recipient countries through socioeconomic development including health, education, and basic social services; promoting environmentally sound development; and supporting private sector and infrastructure development finance. International development projects cover wide range of sectors such as electric power and other energy, oil and gas,

Risk management in international development projects contd transportation, mining, telecommunications, cement and construction materials, chemicals and petrochemicals, water supply and sanitation, irrigation extension, institutional development, education, rural and urban development, private sector development, and environment protection. This paper primarily discusses infrastructure development projects and it is believed that the discussions are equally relevant to development projects in other sectors. International development projects are characterized by elusive goals, constantly changing bureaucratic and political environment, lack of end user participation, and use of foreign technology and consultants to achieve ambiguous objectives in the development environment. The planning and implementation of these projects presents unanticipated difficulties and risks. As a result, international projects require many special considerations that are not usually encountered in domestic projects in industrialized nations. Despite the billion of dollars spent on international development projects each year, cost and schedule overrun are quite common in these projects due to development context of projects. The objective of this paper is to identify risks associated with international development projects and devise risk mitigation strategies. The risks are grouped into four major categories based on their source. 1) International; 2) Developmentoriented; 3) Located in developing countries; and 4) Financed by international development financial institutions. These groups are further classified into ten categories based on their risk nature. Political, legal, technical, managerial, economical, environmental, socio-cultural, financial, corruption, and physical risks. A competent international development project manager should identify and evaluate risks proactively and plan risk mitigation strategies to relieve their impact for achieving international development project goals successfully. Few of the mitigation strategies include application of advanced project management tools, practices and principles, participation of beneficiaries, development of training programs, implementation of sophisticated project monitoring and evaluation system, and development of effective communication environment. 23. Bains S. Business on call. Project 2000-2001;13(7):10-1. Keywords: Outsourcing; Call Centres; UK; The Woolwich; Finance; Banking. Abstract: Examines the concept of outsourcing call centres and how a low cost, high quality customer service approach can be achieved. Focuses on the Ventura Call Centre in the UK. 24. Australian stock exchange relocation project completed with 100 per cent uptime. Australian Project Manager 2000;20(3):4. Keywords: ASX; Australian Stock Exchange; Banking and Finance; IT; Information Technology. Abstract: Moving an entire data centre comprising hundreds of system components is a task in itself. But when the data centre provides the IT support for the Asia-Pacific's second largest stock market, any downtime is simply not acceptable, it is in another league. 25. Banking on project management. Project 2000;13(1):28-9. Keywords: Project office establishment - Finance industry - London Clearing House. 26. Tanrow TA. Thirteen easy steps to implement project management into a financial firm. Connections 2000. PMI Seminars and Symposium. Proceedings; 2000 Sept. 7-2000 Sept. 16; AIPM (CD-Rom). USA: PMI; 2000. Keywords: financial services; organisational change. Abstract: The financial industry spends hundreds of millions of dollars annually on large-scale projects to develop sophisticated financial systems to support a rapidly changing business environment. Lately, the back-office, comprised of finance, accounting, operations, and information technology professionals, has been the center of much project activity. Oddly enough, the majority of people in these areas have never heard of the concept of project management. Is there any surprise that an overwhelmingly large percentage of projects fail? Failed projects translate into millions of wasted dollars annually. To this day, the primary responsibility of accountants, controllers and financial industry professionals has been centered on the production of detailed and accurate reports for business unit decision-making purposes. Traditionally, finance and accounting professionals have not been the decision-makers or drivers of management actions. Their predominant business orientation has been focused on looking backwards in time. (e.g. what was the P&L yesterday, last month, last quarter?) The nature of projects, however, requires a mindset geared towards dealing with uncertainty, risk and events that have yet to occur. The challenge becomes one of training people to think and act 180 degrees from their baseline, a difficult undertaking and often psychologically painful for the trainees. Yet in order to increase the success rates of projects, the gap between the project management mindset and the accounting mindset must be bridged. The following offers a proven approach to implementing the project management discipline enterprise-wide. Approach Organizations can be transformed. Projects can be delivered successfully. The following program has been successfully implemented and can be used as an implementation model in other organizations within the financial services industry: Step 1: Slowly Build a Business Case *Slowly grow project management -- manage management expectations *Demonstrate in pilot areas - provide proof of concept and then allow word of mouth to communicate benefits *Do not push project management - roll out project management based on client demand

Thirteen easy steps to implement project management into a financial firm contd Step 2: Know Your Client and Focus on Customer Service *Client oriented - provide total customer care and give them what they want, not what you feel they need *Understand the power of the business units - minimize reliance on a centralized management or process group; keep the money-making business units happy - they are the source of power and your success *Provide hands-on project management support - the clients want help to make their lives easier, not more difficult *Total flexibility - remain totally flexible in approach in order to satisfy your clients Step 3: Hire Top Talent *Hire the best - find people that have external consulting experience and can adapt to others' personalities; avoid scheduling experts - they will not connect with the client and they will fail Step 4: Keep it Simple *Forget best practice - it is too rich for accountants in the financial industry; consider your audience; consider the level of maturity of the organization *Forget sophisticated tools - they will likely be rejected and will not solve the business problem Step 5: Design an Easy-to-Use Process, Tools, Templates and Training *Use a simple process - stick with the minimum basics; communicate in a very simple and clear fashion *Create a simple project report - keep it clear, simple, low-maintenance, with a business view; from this report clients will determine how much project management they need in order to deliver *Utilize the web for delivery and repository - but do not expect many to proactively go to it *Create a project office for support -- keep support decentralized in order to ensure alignment to the clients *Provide applied training - bring in a big name for the project management executive overviews; make the training relevant and applied around the process and organization The financial industry has unique project management challenges created by its short-term mentality. Specifically, the areas with high accounting responsibility are the most difficult in which to roll out project management. These project management guidelines have been proven to increase project success in this challenging environment. 27. Smith RB. Reusable processes for financial project managers. Connections 2000. PMI Seminars and Symposium. Proceedings; 2000 Sept. 7-2000 Sept. 16; AIPM (CD-Rom). USA: PMI; 2000. Keywords: financial services; matrix organisation; project communication management. Abstract: I have been a Project Manager (PM) for over 25 years and have spent most of that time in financial application development. I have a Bachelor's degree in Accounting and a MBA in Finance and Marketing. I work for IBM Global Services and recently became an IBM Certified PM. Over the years I have developed a set a reusable processes that I use for each new project that I take on. Since every project has its own unique personality, I am constantly customizing and improving these processes. Reusable processes will help you to get up to speed fast, start adding value and a sense of direction to your project, improve team communications and eliminate many of the negative effects of developing systems. The following are some of the reusable processes that I developed or enhanced, and can easily be "customized" per your needs and work environment. 1. Matrix Management The author will show how to use different matrixes to control and manage your project such as: *Issue Coverage Matrix *Change Control Matrix *Decision Logic Matrix *Flexibility Matrix *Ranking Matrix *Responsibility Assignment Matrix (RAM) *Risk Matrix 2. Communications Management The author will show how to use different communication approaches for reporting project status to the following groups: *Team *Non-Executive Management *Executive Management 3. Systems Development Process The Systems Development Process (SDP) is a structural approach to building information systems. SDP is simply a sequence of rational and logical thoughts and actions used regularly in making decisions. As such, it is an essential process used to increase individual contributions in project planning and development and to ensure project success. The rest of this section will be a pictorial walk-through of the SDP presented through eight process figures. 4. High-Level Work Break Structure The author will show how to start out with a high-level work breakdown structure (WBS) and how to come up with a detailed plan by dividing-and-conquering. 5. Weak Link Auditors have related that the documentation of financial controls for application processing is weak at best. Much personal

Reusable processes for financial project managers contd experience agrees with that premise. How often does an auditor audit a financial system and find the following situations? *No documentation *Outdated documentation *Current documentation but not enough of it *Everyone's documentation on the system is different *Some key people have documentation and others do not *The user left the company and took the system's documentation to his or her next job *No sign-out and/or control procedures from the library within the Information Systems Department *No library in the Information Systems Department The use of financial systems brings with it special needs to establish and document controls over the entire processing system. Many times there are adequate controls in a system but the documentation is not standardized. The general purpose of controls in any system is to ensure that all data is entered accurately into the system, processed correctly and the results verified. The purpose of "Weak Link" is to illustrate a financial process model for documenting controls for your system. System designers, user management, internal auditors and independent auditors can use this process model. When writing the controls for this process, it is best to use as little "computerese" as possible. In this way the non-technical reader can better understand the control contents of the system. The following list reflects the eight standardized process controls: *Controls Overview *General Narrative *Input preparation *Input Transmission *Data Preparation *Computer Processing *Output Processing *Output Reconciliation 6. Project Book The author will show how to develop and more importantly maintain this valuable resource that chronicles the history of your project for future reference. In short, the Project Book uses most of the outputs from the above mentioned processes. 28. Plevyak HM, Pierce JE. Managing the colossal project: how a major financial institution was able to successfully design and implement a master program office and enterprise-wide project management information system (PMIS). Connections 2000. PMI Seminars and Symposium. Proceedings; 2000 Sept. 7-2000 Sept. 16; AIPM (CD-Rom). USA: PMI; 2000. Keywords: financial services; information systems; PMO; project management office. Abstract: How can you successfully manage over 75 simultaneous projects encompassing scope with over 1,000 applications (i.e., 105 million lines of code), 13 mainframes, 400 minicomputers, 65,000 PCs, and over 10,000 pieces of network equipment, all with a steadfast deadline? This paper presents a case study of how a major financial institution was able to successfully tackle this complex problem by means of implementing an enterprise wide program office (i.e., Master Program Office) and an enabling project management information system (PMIS). Aspects of the Master Program Office will be explored in the areas of organizational design, corporate governance, executive communications, decision and risk management, project planning, tracking and control, and change management. Critical success factors for establishing the Master Program Office, its infrastructure, and human resource requirements are provided. Key challenges during initial program office setup and implementation are also discussed. Guidelines are suggested for ways in which project managers can improve communication both within and outside the program office, to executive management and other essential key project stakeholders. Strengths and weaknesses of setting up the program planning, tracking, and control system will be discussed along with specific practical experiences and lessons learned. Details of how a successful program office can be implemented are provided. An important enabler of the Master Program Office was the management information system. The project management information system was used to track and maintain control over the company's portfolio of Year 2000 projects. A Lotus Notes database, dashboard control panel, and electronic mail system served as the "user front end" to allow navigation through the various project management data collection and control applications. Details of the Lotus Notes based project management information system will be provided in the areas of: *Program Governance (Executive Leadership and Sponsorship) *Project Scope Management (e.g. the Project Charter) *Project Planning, Integration & Schedule Management using Key Milestones *Project Change Control and the Change Control Board *Corporate Change Administration *Year 2000 Inventory & Deliverables Management *Project Risk and Quality Management (i.e., Project Audit and Reviews) *Project Issue Management (Why an issue is not a risk and why I need both.) *Project Communications *Executive and Project Status Reporting

Managing the colossal project contd *Weekly Reporting Cycles *Event Calendars *Contact Management *Defect or "Bug" Management *Documentation Library *Training and Education *Project Close Each of the above areas are examined for strengths, weaknesses and implementation issues to provide intellectual capital and enable future program managers to be more successful in Program Office Management. Best practices and implementation issues of how the company effectively implemented the core PMI project management processes and controls in the areas of project integration, scope, time, cost, quality, human resource, communications, risk and procurement management are presented. You will learn how a major financial institution embraced project management to effectively manage the colossal scope of their Year 2000 effort. Best practices, critical success factors, and lessons learned presented will enable your team to more effectively design and implement your own company's program office. 29. Edwards SM, Neef WL. Rules of engagement...leveraging technology to define project business requirements. Connections 2000. PMI Seminars and Symposium. Proceedings; 2000 Sept. 7-2000 Sept. 16; AIPM (CD-Rom). USA: PMI; 2000. Keywords: financial services; technology innovations. Abstract: As we forge ahead into the 21st Century, technology is rapidly permeating into the financial services sector: *Computer imaging is replacing microfiche; *P.C. programs are replacing manual paper processes; *ATM's are replacing branch tellers; and *Internet web sites are replacing brick and mortar. The obsolescence of such banking traditions as the abacus, ledger books, and large storage buildings dedicated to paper retention brings a new set of challenges. As technology drives us into a more efficient and effective era, it has quickly become a critical component of virtually any bank's operations. Consequently, technology development is often the most common type of project implemented within today's financial institutions. This evolvement of technology raises old questions to new and more critical levels: What does the client expect from the end deliverable? What are the client business requirements that define the planning and implementation stages of this project? In other words, what is the REAL scope of the project? This paper describes how Comerica turned technology upon itself, creating an innovative Intranet application that facilitates the comprehensive collection and effective communication of business requirements for technology development projects within financial services institutions. BACKGROUND As with many banks, Comerica has spent several years and significant effort in defining processes that would ensure an accurate and complete understanding of client business requirements by the Information Services (I.S.) liaison. These requirements form the infrastructure for estimating project effort/cost and later, become the foundation for project design. However, picking the brain of a business client can be a difficult process. Often, a technical professional cannot fully understand the intricacies of the client's business and the needs of their external customers. Similarly, the client may have difficulties putting their "vision" into clearly understood, technical business requirements. The end result can be a project that falls short of fulfilling the client's needs: *Work estimates are underestimated; *Project scope is incomplete; *Project deliverables are insufficient; and *Rework is often necessary. Consequently, all three sides of the traditional project management triangle (scope, budget, quality) are negatively impacted. The project is considered a failure. To attack this problem directly, Comerica Business Technology Services area initiated a "Rules of Engagement" process in 1998. The overall goals of the process were: *To improve project management efficiency and effectiveness; *To ensure consistency between business units and technical professionals; and *To improve the quality of the business requirements and design deliverables. The end result was a new approach to technology development projects that encompassed a "Joint Requirements Analysis" phase where the Project Manager, Core Team and Business Client Management followed a set of preestablished steps to produce and validate detailed business requirements. This revised process included a comprehensive template to assist in the creation of business requirements. The successful adoption of the Rules of Engagement process fostered Comerica to further analyze methodology to increase the effectiveness of the Joint Requirements Analysis. As a result, a project was initiated in 1999 to leverage existing Intranet technology to create an automated, standardized process to gather and share business requirements for technology development projects. Thus, the Rules of Engagement (R.O.E.) system was created.

Rules of engagement...leveraging technology to define project business requirements contd THE R.O.E. VISION This section will review the scope of the project, including the issues/concerns that were addressed. The process behind the tool will be described. Interrelationships with other project management processes will be referenced. COMPONENTS OF THE R.O.E. The core components of the R.O.E. will be reviewed in detail: *Project Management Tool *Questions Repository *Project Archive R.O.E. DEVELOPMENT CHALLENGES The challenges associated with development and implementation of the R.O.E. will be addressed in this section. Categories include: *Organizational Issues; *Corporate Acceptance/Buy In; and *Project Management Process Changes. BENEFITS OF THE R.O.E. This section will present the benefits gained through the implementation of this automated, standardized tool for the collection and communication of technology project business requirements. THE FUTURE R.O.E. OF COMERICA This section will review potential enhancements of the R.O.E. within Comerica. Alternative applications will also be discussed. 30. Carroll T. Creating the environment for project success - new skills for a changing world. Congress 2000. 15th IPMA World Congress on Project Management; (22-25 may 2000); AIPM. Zurich, Switzerland: International Project Management Association; 2000. Keywords: Conferences; Project Management; IPMA; Congress 2000; Finance; Banking; Success; Competencies. Call Number: CON 3 Abstract: The central theme of this paper is that, in improving the success rate of projects, our attention continues to focus on the processes and competencies of project and change management. But, as the volatility and rate of change of our environment increases, it is now critical that we move on to also address the area of benefits management. Techniques in this area are immature compared to project and change management, but these techniques are becoming essential for managing change in our businesses in this new millennium. 31. Bucero A. How to manage the change through project management. Red Castle project, a real case. Prosperity through Partnership. World Project Management Week. Incorporating Project Management Global Conference; 2000 Oct. 82000 Oct. 11; AIPM (CD-Rom). 2000. Keywords: organisational change; change management. Abstract: This case study focuses on the process of leading change that was necessary in Caja Granada, a Spanish banking company, in order to reduce resistance to change and to take advantage of favorable existing conditions. 32. Murphy J. "Banking on projects: in the competitive finance marketplace, developing new projects is the only way to survive". Project 1999;12(7):15-6. Keywords: Finance - Product development. 33. Millis L. Branding and banking: Project talks to the Brand and Research Manager of EGG. Project 1999;12(7):21-. Keywords: Finance - Online financial services organisation launch. 34. McNellis T, Hanzok J. Building quality and process methodology into a software development project. Learning, Knowledge, Wisdom. PMI Seminars and Symposium. Proceedings 99; 1999 Oct. 10-1999 Oct. 12; AIPM (CD-Rom). USA: PMI; 1999. Keywords: finance; software development; quality management. Abstract: Building quality into an Information Technology project and 'getting it right the first time' calls for explicit quality and process planning. There is tremendous cost associated with project rework, not to mention the additional time, resource constraints and push back of alternate projects. Identifying the right questions to ask project stakeholders up-front, and then following through with the correct process methodology greatly enhances the probability of project success. The author documented those best practices in a Conceptual Design Document. That document has been successfully used in some of the more prominent quality oriented Financial Services organizations in existence today - the General Electric Capital Company and Chase Manhattan Bank. 35. Jacobs J. The Old Mutual demutualization case. 1999. Keywords: PMISA Conference; Proceedings; South Africa; Finance; Banking ; Demutualization; Planning. Call Number: CDROM collection Abstract: The author outlines the project undertaken with the demutualization of a financial society.

36. Brown B. How to become a project driven organisation: a case study in a prominent South African financial institution. 1999. Keywords: PMISA Conference; Proceedings; South Africa; Finance; Banking; Project Managed Organisations. Call Number: CDROM collection Notes: Not available full text. 37. Madigan CO. Perfecting project management skills, part one of a series. Business Finance Mag.com: Online Solutions for Finance Executives 1998. Keywords: Career advancement; Finance; Banking; Certification. Call Number: ART 144 Abstract: Using project management as a tool for career advancement can put financial executives on the fast track. But successful project managers require skills beyond the realm of general management, so be careful what you wish for. 38. Pells D. Take the PMBOK to the bank: How project management expertise can help finance projects. Tides of Change '98 PMI. Proceedings of the 29th Annual Project Management Institute 1998 Seminars and Symposiums; AIPM. PMI; 1998. Keywords: Finance; Project Financing; PMBOK; Expertise. 39. Glogovsek J. Global management and strategy changes in financial systems. 14th World Congress on Project Management. June 10-13, 1998 Proceedings, Volume 1; AIPM. Slovenia: International Project Management Association; 1998. Keywords: Conferences; financial systems; banking system; strategy; projects in financial systems; project management. Call Number: CON 1 Abstract: Changes in the economic, marketing, financial, monetary, political and other areas are influencing the development strategy of individual countries' financial systems. For smaller countries, especially those in transition which are also candidates for integration with the EU, creating development strategies for the financial system is problematic since it is necessary to define the national strategy and on that basis the strategies of individual financial entities such as banks insurance companies funds etc. It is necessary to carry out the necessary projects and this requires the organisation of global management and in particular appropriate project management. 40. Bobek S. Business reengineering projects in service organisations: implications for banking. 14th World Congress on Project Management. June 10-13, 1998 Proceedings, Volume 2; AIPM. Slovenia: International Project Management Association; 1998. Keywords: business reengineering; competencies; banking; redesign; information technology. Call Number: CON 2 Abstract: Reengineering in banks and other financial institutions is extremely challenging because financial processes are complex, knowledge intensive and information technology intensive. Because process change in banks is very broad in scope and encompasses change in organisation and managerial system of the organisation, the term business reengineering is more appropriate than process reengineering. 41. Bistricic A. Strategic and project bank management. 14th World Congress on Project Management. June 10-13, 1998 Proceedings, Volume 1; AIPM. Slovenia: International Project Management Association; 1998. Keywords: Conferences; IPMA; Slovenia; Slovenian Project Management Association; Strategy; Banking; Finance. Call Number: CON 1 Abstract: Project management of the bank is a strategic and managing process of determining band strategic development and growth, project strategies, creating the conditions for successful project management and engineering that aims towards the achievement of high competitiveness, most favorable strategic positions, simultaneously attaining profitability of the bank. 42. De Pedro Sanchez L. Phone banking design and implementation: team building and methodology. IPMA 96 World Congress on Project Management; 1996; AIPM. IPMA; 1996. Keywords: finance; phone banking; IT; information technology. Call Number: CP13 Abstract: This paper presents the key issues in the design and development of a banking application. The project involved the design and development of a customer care system in Phone Banking. 43. Syedain H. The right stuff of project management. Human Resources (UK) 1995;5(3):106. Keywords: Project management/Training/Psychometric tests/selection/Banking/Barclays/Reuters/Information Services. Abstract: Advises companies on how to avoid spectacular project management errors, through better selection and training of project managers and demonstrates how UK company SST International, in conjunction with the Association of Project Managers (APM), has launched a specific cognitive test designed to establish the suitability of individuals to project management, through a series of multiple choice questions and a system of weighting. Charts the success of the test at Reuters and at Barclays Bank. Briefly discusses the application of psychometric testing as part of the process for picking project managers and highlights the objectives of the APM's assessment centre. __________________________________________________________________________________________________________

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