The traditional project management approach consists of these basic fivephases which almost every project undergoes; · Project Initiation· Project Planning· Execution· Monitoring and Control of the Project· Project ClosingBut assignment of authority differs in every organization accordingly. Ina functional organization like U microfinance Bank, it’s quite a challenge toimplement the inherit system or tradition. Project Management practices in UBank tails the strict authorized hierarchy. It is hard for employees to assumeand follow new ways of work processes.Major decision creation power lie with top management with no provisionof authority at functional or divisional level. This makes it more stimulating anddifficult for a Project Manager in terms of taking certain decisions andactions.
Due to stubborn hierarchical assembly where reporting dealings are quitestiff, creates delays in problem solving, decision making, creating goodcustomer relationships, and staying competitive within the vibrant and modestmarket. In order to carry out the implementation of the project in U Bank, aProject Implementation Committee will be established. The implementationapproach will undergo certain steps or phases. · Establishmentof Project Implementation Committee: The Project Implementation Committeewill contain of members from IT steering committee and other relateddepartmental Heads. This committee will be accountable for overall successful conclusionof the project· ExecutiveSponsorship: As major decision making authorities lie within top managementand only limited delegation of authority is exercised at functional ordivisional level, it very important to gain senior management support. And inorder to gain the trust of senior management it important to convey them thathow implementation of this project will benefit them and for how long theirsupport is required. And this will not only going to benefit performance of ITapplications and operations but will provide assistance to the entireorganization.
· Role ofPMO: PMO under the direction of Project Execution Committee, will manageand collaborate with execution team, user departments and vendor for aneffective exercise of best practices, direction and good communicationthroughout the project. PMO will play an important role for informationmanagement by mediating with internal and external stakeholders from initiationto the project closing phase. · ProjectImplementation Team: Project implementation team will be allotted by theproject committee which will comprise of technical resources from all thefunctional units. The resources will be assigned to this specific project towork and perform on their designated role.
This phase is vital as datacollected and provided by the departments should be accurate and configurationneeds to satisfy the requirements of the entire organization. Participation andagreement of each department head is an imperative factor in this regard.Principally the deployment of the system will be done in a step by stepapproach, which will also escort employees to gradually get into exercise ofthe new system. · Training:After the successful deployment of system/ solution the next important phaseis how to take advantage out of the system. This will only be possible bytraining the employees and promoting its functional usage.
Essential trainingsession will also help employees to get familiar with the new system in lesstime. Set Goals and KPIs: Oncethe system is deployed and comes into running position, it will be crucial tomeasure how much worth it has added to the organization. Having a strong and distinctset of presentation metrics and directories will not only help to track projectperformance but will help the top management to focus how much the overallworkflows and procedures are improved.