MIS Project Management at First National Bank
Lessons Learned Report
Prepared by: Group B
Table of Contents
1. Introduction 3
2. Project Overview 4
3. Contributing Factors to Failure 5
3.1. Project Proposal Lifecycle 5
3.2. Planning and Communications 6
3.3. Risk Management 6
3.4. Stakeholder Involvement 7
4. Recommendations 9
4.1. Inter-Departmental / Stakeholders Conflict Management 9
4.2. Effective Planning and Communications Strategy 11
4.3. Shorter proposal lifecycle 11
4.4. Introduction of Risk Management mechanism 12
5. Conclusion 12
6. Bibliography 13
“Collecting and analyzing ...view middle of the document...
The pre-project corporate banking (raising the majority of the bank’s profits) at First National Bank was absent of a corporate database, which caused the following shortcomings:
* Corporate services were provided by many banking departments and no one individual knew what total banking services a corporate customer was using.
* It was impossible to determine how profitable a corporate customer was to the bank.
* Contact officers did not have regularly scheduled calls to sell likely services to corporations in a professional manner which potentially let to a vast market of untapped corporate customers in Ohio.
* Corporate data was processed manually and by a number of different internal divisions and time-sharing at various vendors as well as digitally in many internal information systems.
The scope of the MIS project was to consolidate information about corporate customers from many areas at the bank into one corporate database. With a successful completion of the project the following goals will be achieved:
* To better serve the corporate customers;
* To contribute heavily to the profit structure of the bank through repricing of services and increased selling of services to corporations.
MIS development project passed the project proposal life cycle and the first sub phase of project life cycle (the elaboration of project plan). However the second sub phase (user requirements) was never completed and the project resulted in being tabled. The project can be defined as unsuccessful because the objective (scope, resources and schedule) was not achieved.
Contributing Factors to Failure
Project Proposal Lifecycle
The Project Proposal Lifecycle for approval involves a long process of 7 main steps. Meetings are held monthly in which prioritisation of proposals are given and either dropped, tabled for further review or assigned a priority relative to on-going projects and available resources.
The process and length of time it takes to have a project approved and initiated adds to ineffective use of time wasted and incurred costs for Systems Research, although the costs are not included as part of the overall project.
Figure 3.2: Project Proposal Lifecycle
Prepare draft statement of problem
President of ISD
Reviews and sends to Systems Research
Prepare an Impact Statement with Approximate Project Fea…….
Review and prioritise Impact Statement
Prepare full-scale Project Proposal
Review of Project Proposal
7.1 User sponsor speaks in favour of proposal
7.2 Evaluated by Priorities committee
7.3 Prioritise list of proposals
7.4 Assign proposal to Systems Group
Systems Group Assigned
Planning and Communications
Jim didn’t have an effective Planning and Communications strategy in place.
And lack of planning documents led to...