Providian Trust:”Tradition and Technology Essay Example

align="justify">Project Deliverables

To ensure timely completion of Project deliverables or key tasks, management has increased staffing to provide additional support for customization and testing activities. It is crucial to avoid unnecessary implementation that may jeopardize the business, as this could lead to considerable post-implementation cleanup and negative effects on client services.

Resistance to change

To improve profitability and competitive position, it is necessary to provide training for trust officers. The lack of accountability is noticeable due to undefined roles and responsibilities. To tackle this problem, it is crucial to introduce better methods and regular checks that promote visible and responsible accountability. The project team achieved mixed results by converting $2.5 billion of internal corporate assets and proprietary mutual funds successfully; however, the project was deemed incomplete as it solely concentrated on the system's basic functionality without incorporating any client accounts.

The Simulated Work Environment (SEE) was intended to be a reliable testing methodology conducted at 20% capacity at its headquarters, with a few live data feeds. However, it was discovered that the trust officers did not actually participate in the SEE. The implementation committee, also known as 'Access Plus', grew to 20 executives without a clear understanding of their roles and responsibilities. The failure of this project can be attributed to Providing Trust's lack of efficient management practices and leadership qualities, as well as having too many directors, resulting in a lack of clear direction and management reporting hierarchy. Veteran trust advisors also resisted the change, lacking the necessary skills to handle the new technology. Furthermore, the project suffered from a lack of a detailed plan to establish project goals, making it impossible to execute,

monitor, and introduce changes. This failure ultimately led to poor performance. The case discusses the challenges faced in project management for re-engineering a new operating environment at Providing.

The aim of the re-engineering was to decrease costs and enhance the efficiency of the business process. However, several Project Management issues arose during this process. Here is a breakdown of the problems and my analysis of each one: Insufficient Team skills/Competence: Due to the unfamiliarity of trust officers with the new operating systems and cosmologies being implemented, it was difficult to train experienced officers and improve their skill levels.

It is necessary to develop more comprehensive IT and mindset training for officers, including those who are adverse to technology. This training should aim to combine the technical skills of younger officers with the domain expertise of trust officers to improve the reengineering process. Additionally, there was a communication deficit in the plan for implementing 'Access Plus' as it failed to consider the client relationship aspect from a headquarters perspective.

It would have been advantageous for the local trust officers, who have superior customer relationship experience with clients and a better understanding of their requirements, to be involved in creating the implementation plan. This would have made the process more client-oriented. Additionally, there was a lack of accountability in determining who was responsible for achieving the simulated work environment testing methodology among the trust officers. Measures could have been implemented to increase accountability for both users and management in the project risk profile.

The officers should have been more accountable and monitored the usage of SEE better. The key takeaways are clear and constant communication between top-management

and lower management on decision making activities, a clear methodology for measuring IT risk in the business re-engineering process, the understanding that technology alone does not deliver value, and the importance of incorporating IT-Iterate executives for faster and stronger transformation.