EXECUTIVE SUMMARY (ABSTRACT)
COOCIQUE R.L. –located in San Carlos, Costa Rica– is a Savings and Credit Cooperative that was founded in 1965; since then, it has been promoting the economic and social development of the geographical areas where they offer financial services.
Today COOCIQUE R.L. is a sound financial institution regulated by the General Superintendence of Financial Institutions (SUGEF) and it serves more than 100.000 members nationwide. Credit products mainly include commercial loans, credit card loans, mortgage loans and productive loans.
One of the most important services offered by the Cooperative is the credit service for small and midsize producers, including agriculture and milk producers, among others. One of the challenges that COOCIQUE has been facing is to tailor credit services to the cooperative members’ needs. They require guidelines to develop, test and document a credit management model for small and midsize producers, including credit policies, procedures and tools to facilitate producers’ access to credit, digital-based delivery mechanisms, access to markets and credit risk management.
The proposed Project Management Guide was aimed at developing specific credit methodologies to address the small and midsize producers’ needs. The purpose of this Project Management Guide was to offer a step-by-step guide to developing, testing and documenting new models of credit management in the productive loan portfolio. The absence of specific credit methodologies to address the small and midsize producers’ needs and businesses characteristics increased the credit management risk and became a potential risk of non-compliance with SUGEF regulations.
The general objective of this Final Graduation Project was to develop a Project Management Guide, framed within the standards of the Project Management Institute, for developing, testing and documenting a credit management model for small and midsize producers associated to COOCIQUE R.L., a financial institution located in San Carlos, Costa Rica.
The specific objectives were: 1) To develop a Project Management Guide including the creation of a Project Charter that formally authorizes the project and provides the project manager with the authority to apply organizational resources to the project; 2) To develop a Project Management Guide that includes the following subsidiary plans: a) Scope Management Plan, b) Schedule Management Plan, c) Cost Management Plan, d) Quality Management Plan, e) Resource Management Plan, f) Communications Management Plan, g) Risk Management Plan, h) Procurement Management Plan, and i) Stakeholder Management Plan; and 3) To develop an implementation plan with short-, medium- and long-term actions that will help COOCIQUE R.L. to implement activities on a timely manner for developing, testing and documenting new credit management models for small and midsize producers.
For this research, a qualitative methodology was selected, supported by some quantitative analysis, using a combination of primary and secondary sources of information. The planning process was more qualitative than quantitative, but an analytical process of existing information and facts was conducted in order to develop a proper analysis, which would lead to critical conclusions about the credit management model components.
Developing new credit products demands the modification of credit management processes, procedures and organizational process assets in order to tailor credit products to small and midsize producers’ needs. Changes to internal processes and procedures must include regulatory norms from the supervisory body, so before the elaboration of the Business Case or Project Charter some feasibility analyses had to be conducted, especially the legal feasibility analysis.
During this FGP we have identified new processes, activities or tools that need to be considered during the development of the new credit product for small and midsize producers, and we have suggested a limited number of new tools in order to add value to the project management process, but without creating a highly bureaucratic process and excessive paperwork.
Finally, assessing the current project management methodology at COOCIQUE and the PMO organization and operation is out of scope of this FGP. Nevertheless, we suggest that they assign Project Managers from the PMO, and not from functional areas that are also affected by the changes that the new product will generate. The COOCIQUE current project management methodology clearly integrates basic PMI best practices and principles, but that is a general document not fully operational for the development of new credit products. This is something that needs to be reviewed.
The general objective of this Final Graduation Project has been achieved by proposing the Project Management Guide including the subsidiary plans for the developing, testing and documenting a credit management model for small and midsize producers associated to COOCIQUE R.L. The visits to COOCIQUE and field interviews to COOCIQUE staff helped to understand the PMO functions and COOCIQUE project management methodology, which is framed within the standards of the Project Management Institute. The proposed implementation plan highlights the short-, medium- and long-term actions for fully implementing the whole Project for the design of the new credit product.
The suggested components of the Project Management Guide including subsidiary plans for the Project of developing new credit products will benefit COOCIQUE by providing a technical guide for planning this kind of projects in the future, in addition to the suggested tools that can help to improve the current project management methodology.
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