The traditional project management approach consists of these basic five
phases which almost every project undergoes;

·        
Project Initiation

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·        
Project Planning

·        
Execution

·        
Monitoring and Control of the Project

·        
Project Closing

But assignment of authority differs in every organization accordingly. In
a functional organization like U microfinance Bank, it’s quite a challenge to
implement the inherit system or tradition. Project Management practices in U
Bank tails the strict authorized hierarchy. It is hard for employees to assume
and follow new ways of work processes.

Major decision creation power lie with top management with no provision
of authority at functional or divisional level. This makes it more stimulating and
difficult for a Project Manager in terms of taking certain decisions and
actions.

 

Due to stubborn hierarchical assembly where reporting dealings are quite
stiff, creates delays in problem solving, decision making, creating good
customer relationships, and staying competitive within the vibrant and modest
market.

 

In order to carry out the implementation of the project in U Bank, a
Project Implementation Committee will be established. The implementation
approach will undergo certain steps or phases.

·        
Establishment
of Project Implementation Committee: The Project Implementation Committee
will contain of members from IT steering committee and other related
departmental Heads. This committee will be accountable for overall successful conclusion
of the project

·        
Executive
Sponsorship: As major decision making authorities lie within top management
and only limited delegation of authority is exercised at functional or
divisional level, it very important to gain senior management support. And in
order to gain the trust of senior management it important to convey them that
how implementation of this project will benefit them and for how long their
support is required. And this will not only going to benefit performance of IT
applications and operations but will provide assistance to the entire
organization.

·        
Role of
PMO: PMO under the direction of Project Execution Committee, will manage
and collaborate with execution team, user departments and vendor for an
effective exercise of best practices, direction and good communication
throughout the project. PMO will play an important role for information
management by mediating with internal and external stakeholders from initiation
to the project closing phase.

·        
Project
Implementation Team: Project implementation team will be allotted by the
project committee which will comprise of technical resources from all the
functional units. The resources will be assigned to this specific project to
work and perform on their designated role. This phase is vital as data
collected and provided by the departments should be accurate and configuration
needs to satisfy the requirements of the entire organization. Participation and
agreement of each department head is an imperative factor in this regard.
Principally the deployment of the system will be done in a step by step
approach, which will also escort employees to gradually get into exercise of
the new system. 

·        
Training:
After the successful deployment of system/ solution the next important phase
is how to take advantage out of the system. This will only be possible by
training the employees and promoting its functional usage. Essential training
session will also help employees to get familiar with the new system in less
time. 

Set Goals and KPIs: Once
the system is deployed and comes into running position, it will be crucial to
measure how much worth it has added to the organization. Having a strong and distinct
set of presentation metrics and directories will not only help to track project
performance but will help the top management to focus how much the overall
workflows and procedures are improved.