Project Management Essay
HOW PROJECT MANAGEMENT IS USED IN AN INDUSTRY?
WHAT ROLE PROJECT MANAGEMENT PLAYS IN THE INDUSTRY CHOSEN?
IS IT A CORE REQUIREMENT TO KNOW THE SUBJECT?
HOW PERVASIVE IS ITS USAGE?
HAS IT ALWAYS BEEN A TOOL IN THE INDUSTRY?
WHO USES THE TOOL AND FOR WHAT: GIVE EXAMPLES
This research seeks to answer the questions as outlined in the the topic, as they relate to project management in the financial sector and specifically the banking sector.
Research on five of Canada’s top bank was conducted along with examining project management as a whole.
The financial sector was chosen based on the fact that …show more content…
Research to answer the questions ask in this assignment was conducted on four banks in Canada, namely Bank of Montreal (BOM), Bank of Canada ( BOC), Royal Bank of Canada (RBC) Bank of Nova Scotia(SCOTIABANK) and Canadian Imperial Bank of Commerce (CIBC) . It was revealed that all these banks had project managers in senior management positions. While they existed in different departments, it was obvious that the banks considered this profession as an important and effective function of the banks’ overall operations. The overall functions of the project managers included the following:
The project management positions were identified in Customer Service, Information Technology, Online Banking, Real Estate, Operating Models and Design, Human Resources and Administration. The positions included senior managers, managers and project officers. The role and functions of the project managers were as follows: * Managing the effective identification, development, design, and implementation of projects for business initiatives across the banks * The performance and responsibility for managing scope, cost, schedule and contractual deliverables, which includes applying project-management methodologies for planning, tracking, change control and risk management * Overall accountability for improving WM Operations & Technology execution