Reference no: EM131477754

Assignment

As a project manager, the onus of a project's success depends on me hence I have to set proper planning, organization, leadership and control. This will facilitate determination of what and when a task is to be done and also who is responsible to do it. It also sets ideal structures through role identification, setting the plan in motion whilst keeping it on track to ensure objective attainment and a successful closure.

Project Title: The Impact of Technology in Banking Industry

Project Executive Summary

This project involves assessment of impact of technology in the banking industry. The primary aim of the task is to justify the need for the banking industry to embrace technological advancement in order to remain competitive against uprising financial technology companies such as Paypal.

Scope and Objectives of the Project

This project consists of integrating the distribution channels, redesigning the bank networks, upgrading services and operations platforms and fortifying the banks' brands. This will foster the much needed change through promoting transparency, being customer eccentric, swift execution and adapting the right business model commonly referred to as the digital mindset. This impact is expected to transform the banks away from traditional mode of operation by 2020.

Project Deliverables
Scope Statement
Progress Reports
Issues Reports
Periodical Meetings (weekly)
Closure
Project Success

The project will be termed successful if banks achieve bridging the gap between offline and online world, create innovative tools offering convenience to customers, fortify their brands and cement customer loyalty.

Project's WBS

1 The Impact of Technology in Banking Industry

1.1 Initiation

1.1.1 Evaluation & Recommendations
1.1.2 Develop Project Charter
1.1.3 Deliverable: Submit Project Charter
1.1.4 Project Sponsor Reviews Project Charter
1.1.5 Project Charter Signed/Approved

1.2 Planning

1.2.1 Create Preliminary Scope Statement
1.2.2 Determine Project Team
1.2.3 Project Team Kickoff Meeting
1.2.4 Develop Project Plan
1.2.5 Submit Project Plan
1.2.6 Milestone: Project Plan Approval

1.3 Execution

1.3.1 Project Kickoff Meeting
1.3.2 Verify & Validate User Requirements
1.3.3 Design System
1.3.4 Procure of Materials
1.3.5 Installation
1.3.6 Testing Phase
1.3.7 Install Live System
1.3.8 User Training
1.3.9 Go Live

1.4 Control

1.4.1 Project Management
1.4.2 Project Status Meetings
1.4.3 Risk Management
1.4.4 Update Project Management Plan

1.5 Closeout

1.5.1 Audit Procurement
1.5.2 Document Lessons Learned
1.5.3 Update Files/Records
1.5.4 Gain Formal Acceptance
1.5.5 Archive Files/Documents.