Bank Sees Problems as Opportunity to Improve
SMS Ref #: CS00013
A major bank encountered a number of high profile project failures, which led to questions over governance and project delivery systems.
The bank recognised that it had an opportunity to improve project capability and governance across the organisation. The group’s executive committee endorsed the need to lift performance and established a global program to proactively drive the required improvements. The key objectives were to ensure that the bank could:
- identify, prioritise, and govern projects to achieve key business outcomes
- execute projects reliably
SMS was engaged to establish and deliver this business critical, strategic program.
SMS developed and implemented a number of priority workstreams.
SMS defined and established the bank's priority work streams, focussing on:
- improving project governance
- implementing a disciplined but flexible framework
- nurturing project capabilities
- defining key accountabilities
Over the 18 month life of the project, SMS delivered a range of practices and processes that was strongly underpinned by an emphasis on people and culture.
Key outputs included:
- group wide communications and engagement plan
- documented project gating process, with supporting manual and training package
- best practice project management process roadmap
- documented accountabilities and responsibilities for key business and technology project roles
- aligned project sponsor/project manager key responsibility areas (KRAs)
- optimised project management processes
- integrated professional development framework
Success through an enhanced project-centric culture, role clarity and common project framework and language.
SMS played a pivotal role in driving a broad improvement in the bank’s governance and project delivery capability. Key areas included:
- an effective project governance model, with roles and responsibilities clearly understood
- capable and accredited project managers with career paths
- the necessary methods and tools to support best practice project delivery
- enhanced recognition of project management as a core competency for the bank
- accurate and consistent reporting of project status