If your bank is embarking on a critical core system initiative, a project management office can help guide success.
In an environment of unprecedented transformation, many banks will rely on high-profile, high-risk IT projects such as core-system conversions to drive future success. Consider:
- Does your institution have a strong track record for completing projects on time and on budget?
- Do projects typically meet business objectives? If not, do you know why?
- Does your staff have the capacity to complete projects as well as fulfill their day-to-day responsibilities?
- Has your team successfully implemented a core system before?
- How well does your organization manage vendors?
A key to success
In our experience, a project management office (PMO) often is a critical element for delivering successful core system projects—providing the best practices and ongoing oversight to keep complex efforts on track with goals, on schedule, and on budget.
We can help you establish a PMO and project management capabilities that maximize the value of your critical core system projects. With a unique combination of banking industry expertise, extensive experience with major core systems and other industry solutions, and complex project management skills, we have helped many banks implement and utilize PMOs to manage complex initiatives through to successful conclusion.
Tailored to your needs
We work with you to create and operate a PMO that is tailored to your project and business requirements:
- Identify team members, develop objectives, and communicate key PMO activities
- Identify logistical and human resources requirements
- Define the required space, project management tools, and staffing
- Select staff and train them on tools and methodologies
- Launch and operate the PMO; review key projects to be managed
- Monitor and review project status and satisfaction with PMO performance; solicit and implement improvements
Built on best practices
Our approach to establishing a PMO is built on best practices for project planning and execution. This starts with defining specific PMO objectives to ensure proper focus for responsibilities and activities, and it extends through to processes and tools that guide smooth conversion and ongoing optimization. Throughout, we apply principles that guide:
- Stakeholder inclusion
- Risk management
- Quality assurance
That’s business in the right direction.