EXECUTIVE SUMMARY (ABSTRACT)
In the banking industry, having banks that are well structured and organized is vital and could determine if the institution would eventually be subjected to fines, penalties, legal prosecution of its employees or ultimately losing its license and having to close its doors.
The bank in study is a Commercial bank with an A Class license, which was incorporated in January 2001. It is one of the premier domestic banks recognized especially for its technological innovations.
They offer banking services to the entire population having branches in seven of the nine districts, therefore, the competitive advantages gained are reflected in their size, breadth of product and client base. They have been a part of the banking industry for the past thirteen years.
Recently several banks worldwide have been penalized with very large monetary fines, some had employees that were charged criminally and many have even closed the doors of some of their branches. Many of these banks have existed for over fifty years, some close to a century.
It would be convenient if the documentation existed to evaluate the processes that should be followed by a bank and this would be helpful in explaining the rational and possibly the reason why banks today continue to fall prey to the gavel of the regulators and the law.
All that is known to the public is that million dollar fines are being handed down almost every other day. In order to avoid these recent occurrences and to have documented processes available to the public, the project management plan, processed as outlined and explained in the PMBOK Fifth Edition, will be applied to a bank.
Planning a project is not difficult and should not take too much time, although this is obviously proportional to the complexity of the individual project.
Studies conducted on banks have shown that institutions that stay healthy are those that maintain strong internal policies, systems and controls. The purpose of doing this specific research is to document the information necessary when creating a bank and combine those with PMBOK’s established guidelines in creating a project management plan.
This will document all the requirements needed to establish a bank in the context of a project management plan that should serve as a step by step guide to a well- planned banking institution.
The general objective of the Final Graduation Project (FGP) was to develop a project management plan for the creation of the organization of the Compliance department of a bank. The specific objectives were:
to develop a scope management plan to ensure all required work is completed,
to create a time management plan so that the project is finished on time,
to create a cost management plan to ensure that the project is done within the budget,
to create a quality management plan to ensure sponsor requirements and project deliverables are produced,
to create a human resource management plan so that the team can meet the demands of the project,
to develop a communications management plan to ensure that all stakeholders are provided with information on the project,
to create a risk management plan to ensure that all risks are documented,
to create a procurement management plan to ensure that the make or buy analysis is conducted and procurement needs are identified
to create a stakeholder management plan to ensure that all participants affected by the project are identified.
The methodology used for this research was analytical-synthetic. An analysis of processes relating to a project management plan was performed as outlined in PMBOK Guide and the results were documented.These data were analyzed using tools, assumptions and constraints and deliverables. Interviews with vital employees of the bank in study were conducted and the information provided documented.
The scope was a Compliance department for a comercial bank in Belize. The bank referred to in the FGP had no available information on past projects (similar or not) such as lessons learned or documentation on a project management plan did not exist. Such limitations contributed to the hindrance of a more detailed project management plan and benchmarks. The interviews were informal (and due to confidentiality of the bank), they only yielded public information and/or information that could be divulged to the public, which also presented a limitation or constraint.
Despite the limitations, based on the guidelines of the PMBOK, 5th Edition (PMI, 2013), the available information was applied in sequence to the input, tools & techniques and the outputs of the applicable project management processes. The main objective was achieved with the creation of the project management plan of organizational structure of the Compliance department of a bank It is recommended that the bank create a project management office or project management team and/or employ a qualified project manager. Even if the bank decides not to create a project management office, team or employ a project manager, it is recommended that they at least keep record archives of finished projects and lessons learnt which may prove as a valuable referral guide in their future projects.
Descargar Aquí :
